27 August 2025

Oncoinvent ASA half-yearly report: Strong focus on financial discipline and advancing Phase 2 program in ovarian cancer

Oncoinvent reports continued progress in the ongoing Phase 2 trial in ovarian cancer with a strong focus on advancing the program and maximizing recruitment.

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Highlights for the first half of 2025:

Radspherin®

  • Positive final data from Phase1/2a trial in colorectal cancer patients
  • Positive interim 18-months data from Phase1 trial in ovarian cancer patients
  • Positive read-out of safety lead-in cohort and opening of randomized part of Phase 2 trial in ovarian cancer patients
  • Regulatory approvals for additional sites for the randomized Phase 2 trial in ovarian cancer, with expected onboarding before end of 2025

Corporate

  • Operating expenses reduced by 28% versus last year
  • Merger with BerGenBio
  • Fully guaranteed rights issue of NOKm 130

 

CEO Øystein Soug and CFO Tore Kvam will present the results for the first half of 2025 at a webcast available at https://channel.royalcast.com/landingpage/hegnarmedia/20250827_3/, Wednesday 27 August at 08:00 CEST. The presentation and Q&A will be held in English. A recording of the webcast will be made available on our website shortly after the presentation.

 

About Oncoinvent

Oncoinvent is a clinical-stage biotechnology company developing novel radiopharmaceutical therapies against cancer. The lead product candidate, Radspherin®, uses the alpha-emitting radionuclide radium-224, directly targeting micro-metastases post-surgery, harnessing the benefits of modern radiopharmaceuticals without the complexities of biological targeting. Oncoinvent is investigating the safety and efficacy of Radspherin® in a clinical development program in two indications. In addition to a recently finalized phase 1/2a trial in colorectal cancer, Oncoinvent is running two trials in ovarian cancer: one phase 1 trial and one randomized phase 2 trial in the US, UK and Europe. Preliminary clinical efficacy data are highly encouraging, and no serious toxicity or safety concerns have been reported to date. The Oncoinvent team runs a state-of-the-art manufacturing facility to produce drug products for clinical trials in Nydalen, Oslo. Oncoinvent is listed on the Euronext Growth Oslo.

About Radspherin

Radspherin® is an investigational radiopharmaceutical designed for the local treatment of cancer that has spread to body cavities. It consists of calcium carbonate microparticles containing the radioactive material radium-224. The mode of action is the decay of radium-224 emitting alpha-particles, a highly potent form of ionizing radiation. Radspherin® is investigated in ongoing clinical studies to treat peritoneal carcinomatoses from ovarian and colorectal cancer and it is administered intraperitoneally after surgical resection with removal of all macroscopic tumors.

Forward-Looking Statements

All statements other than statements of historical facts contained in this press release are forward-looking statements and are not a representation that Oncoinvent’s plans, estimates, or expectations will be achieved. These forward-looking statements represent Oncoinvent’s expectations as of the date of this press release, and Oncoinvent disclaims any obligation to update the forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including with respect to whether the results of clinical or other studies will support the use of our product offerings, the impact of results of such studies, our expectations of the reliability, accuracy and performance of our tests, or of the benefits of our tests and product offerings to patients, providers and payers.

For further information, please contact:

Øystein Soug, Chief Executive Officer
Email: soug@oncoinvent.com

Tore Kvam, Chief Financial Officer
Email: kvam@oncoinvent.com

 

 

Øystein Soug

Chief Executive Officer

soug@oncoinvent.com

Oystein Soug has over 15 years of experience in biotechnology, holding several management positions. Most recently, Mr. Soug was CEO of Arxx Therapeutics, where he led the company to initiate the clinical programme and was responsible for the merger with Dutch pharma company Oxitope Pharma to create Calluna Pharma. Prior to Arxx, he served as CFO and then CEO of Targovax, an Oslo listed biotechnology company, which went public during Mr. Soug’s tenure. Mr. Soug started his career in biotech as CFO of Oslo-listed radiopharmaceutical company Algeta. During this period, the company conducted a successful phase 3 trial, launched its radium-223 based prostate cancer drug Xofigo® and out-licensed the drug. Mr. Soug co-led the sale of the company to Bayer in 2014.  

Mr. Soug holds an MSc in Economics and Financial Markets from Universität St. Gallen in Switzerland in 1997

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Anders Månsson

Chief Executive Officer

mansson@oncoinvent.com

Anders Månsson is a business executive with over 25 years of experience from management roles in the pharmaceutical industry, focusing on commercialisation and M&A + licensing. Mr. Månsson has held leading roles in the industry both in his native Sweden and in other European countries, and he has worked extensively with the USA and Asia as focus markets in global roles.

Mr. Månsson holds a B.Sc. degree in Business & Economics from Lund’s University in Sweden as well as an MBA from Business School Lausanne in Switzerland. He has a broad-based industrial experience, featuring both large multinational companies such as Meda, Ferring & LEO Pharma, and including leading roles in start-ups and smaller biotech companies. On top of his executive role in Oncoinvent, Mr. Månsson holds two non-executive director positions serving on the board of EQL Pharma AB as well Immetric AB, the latter being an investment company focusing on life science.

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