19.12.2024 07:45:00 CET | Thor Medical ASA | Inside information

Oslo/Sydney, 19 December 2024: Thor Medical ASA, a leading emerging supplier of
alpha-emitters for next-generation precision cancer treatment, has signed a
strategic master supply agreement with AdvanCell, an Australian-based
clinical-stage radiopharmaceutical company.

The five-year master supply agreement for deliveries of Thorium-228 to AdvanCell
represents revenues of approximately NOK 100 million for Thor Medical over the
term. It follows successful deliveries and conformation of performance of
Thorium-228 product samples from the Herøya pilot facilities to AdvanCell
earlier this year-notably, the first samples shipped from Thor Medical's newly
commissioned pilot facilities.

"The strategic master supply agreement with AdvanCell demonstrates the
increasing market needs for our products and supports our goal of bringing alpha
emitters to market at scale as quickly as possible. The agreement marks another
milestone towards a final investment decision for our AlphaOne plant in the
first quarter", says Jasper Kurth, CEO of Thor Medical.

AlphaOne is Thor Medical's first commercial-scale plant for high-quality
radioisotopes. The company recently raised NOK 173 million in gross proceeds in
a private placement and retail offering to finance the plant. Combined with
loans and working capital financing, the transaction renders AlphaOne fully
funded through commissioning and ramp-up, which will ensure cash-positive
operations.

"This agreement with Thor Medical is a significant step forward in securing the
reliable supply of Thorium-228, a critical component for our Pb-212-based
therapies. It reflects the strong mutual respect and shared commitment between
our companies to innovation in radiopharmaceuticals. Together, we are advancing
breakthrough treatments, bringing new hope to patients fighting cancer
worldwide.", says Andrew Adamovich, CEO of AdvanCell.

AdvanCell is a leading radiopharmaceutical company developing a pipeline of
innovative cancer therapies based on Pb-212. AdvanCell's proprietary
Th-228-based Pb-212 generator technology supports commercial-scale manufacture
of the company's therapeutic portfolio. AdvanCell's lead candidate, ADVC001, is
currently under investigation in the Phase I/II TheraPb trial (NCT05720130).

The AdvanCell agreement represents Thor Medical's third commercial supply
agreement this year.

CONTACT

Thor Medical Brede Ellingsæter, CFO, +47 472 38 440 
brede.ellingseter@thormedical.com

ABOUT ADVANCELL

AdvanCell is a vertically integrated, clinical stage radiopharmaceutical company
developing novel targeted alpha therapies to improve survival and the quality of
life for patients with cancer.

ABOUT THOR MEDICAL ASA 

Thor Medical is an emerging supplier of alpha emitting radioisotopes enabling
next generation cancer of treatments. Our proprietary production process
requires no irradiation or use of nuclear reactors, and provides reliable,
environmentally friendly, cost-efficient supply of alpha-emitters for the
radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and
listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.

IMPORTANT INFORMATION 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Brede Ellingsæter, CFO, Thor Medical ASA,
at the time and date stated above in this announcement. 

This release contains forward -looking information and statements relating to
the business, performance, and matters that may impact the results of Thor
Medical. Forward-looking statements are statements that are not historical facts
and may be identified by words such as "aims," "anticipates," "believes,"
"estimates," "expects," "foresees," "intends," "plans," "predicts," "projects,"
"targets," "potential," and similar expressions. Such forward-looking statements
are based on current expectations, estimates, and projections, reflect current
views concerning future events, and are subject to risks, uncertainties, and
assumptions, and may be subject to change without notice. Forward-looking
statements are not guarantees of any future performance, and risks,
uncertainties, and other important factors could cause the actual business,
performance, results, or the industry and markets in which Thor Medical operates
to differ materially from the statements expressed or implied in this release by
such forward-looking statements. No representation is made that any of these
forward-looking statements or forecasts will come to pass or that any forecasted
performance, capacities, or results will be achieved, and you are cautioned not
to place any undue reliance on any forward-looking statements.

This release is for information purposes only and is not to be relied upon in
substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848634/18366642/5439/Download%20announce
ment%20as%20PDF.pdf