Thor Medical ASA: AlphaOne Starts Commercial Production

31.7.2026 07:00:05 CEST | Thor Medical ASA | Non-regulatory press releases

Thor Medical, a leading supplier of high-purity isotopes to the
radiopharmaceutical industry, today announced that its industrial-scale AlphaOne
production facility at Herøya Industrial Park has commenced commercial
production.

The AlphaOne facility will produce lead-212 (Pb-212), and its precursors
thorium-228 (Th-228) and radium-224 (Ra-224), supporting the fastest-growing
segment of radiotherapeutics, a market projected to reach USD 15 billion by 2030
and USD 28 billion by 2034.

Thor Medical has signed supply agreements with numerous customers across the
radiopharmaceutical value chain, ranging from early-stage biotech companies to
leading CDMOs and global pharmaceutical companies. The company expects to make
its first customer deliveries from AlphaOne in August 2026. Leveraging the
natural decay of the raw material, thorium-232 (Th-232), the production capacity
of the plant will gradually increase, scaling to 21,000 patient dose equivalents
after three years.

"Thor Medical now takes a leading position in the commercial supply of critical
isotopes to the radiopharmaceutical industry," said Jasper Kurth, Chief
Executive Officer of Thor Medical. "Reliable access to medical isotopes is
fundamental to ensuring that innovative targeted cancer therapies can reach
patients. With AlphaOne, we have established a scalable manufacturing platform
that will help meet growing global demand and support our partners in delivering
these treatments to more patients."

Since 2024, Thor Medical has validated its proprietary production platform
through pilot manufacturing and customer deliveries while developing AlphaOne
into an industrial-scale production facility. Following mechanical completion in
April, commissioning was successfully completed, during which production
systems, equipment and process performance were systematically tested and
verified to ensure safe, reliable and stable operation according to design
specifications. The AlphaOne facility was delivered on time and on budget, with
production now commencing as planned.

"The successful delivery of AlphaOne on time and on budget reflects the
execution capabilities we have built across the company," Kurth added.
"Designing, constructing and commissioning a first-of-its-kind industrial
production facility is a highly complex undertaking. I am incredibly proud of my
colleagues, whose expertise and commitment have made this achievement possible.
Together with our partners and suppliers, we have laid the foundation for Thor
Medical's next phase of growth as we continue to expand capacity and serve
customers worldwide."

Thor Medical's proprietary production process applies advanced separation
technology to naturally occurring thorium and requires neither irradiation nor
nuclear reactors, enabling a sustainable, resilient and cost-efficient supply of
high-purity radioisotopes.

CONTACTS

 * Mathias Nilsen Reierth, Head of Communications and Corporate Affairs, +47 988
   05 724, mathias.reierth@thormedical.com 

ABOUT THOR MEDICAL ASA

ABOUT THOR MEDICAL ASA

Thor Medical is a leading supplier of high-purity isotopes to the
radiopharmaceutical industry. The Company's proprietary production platform
combines advanced separation technology with industrial-scale manufacturing
capacity to deliver a reliable, scalable and cost-efficient supply of
alpha-emitting radioisotopes. Thor Medical supports radiopharmaceutical
companies from early-stage development to commercialization enabling scale-up of
next-generation targeted cancer therapies.

Thor Medical's product portfolio includes lead-212 (Pb-212) and its precursor
isotopes thorium-228 (Th-228) and radium-224 (Ra-224). Based on naturally
occurring thorium, Thor Medical's production process requires neither
irradiation nor nuclear reactors, providing significant cost advantages while
minimizing radioactive waste.

Guided by its vision to become a world-leading enabler for targeted cancer
therapies, Thor Medical is committed to improving millions of lives by powering
the next generation of precision cancer treatment with high-purity isotopes.

Thor Medical is headquartered in Oslo, Norway, and listed on the Oslo Stock
Exchange under the ticker symbol TRMED. For more information, visit 
www.thormedical.com - http://www.thormedical.com.

ATTACHMENTS

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