Thor Medical ASA
OSE:TRMED
Thor Medical ASA
Nordic Nanovector ASA is a biopharmaceutical company, which engages in the development, marketing, and sale of medical products and equipment for anticancer therapeutics for haematological cancers. The company is headquartered in Oslo, Oslo and currently employs 16 full-time employees. The company went IPO on 2014-07-07. The firm is engaged in the development and commercialization of targeted therapeutics for hematological cancers. Its main product is Betalutin, a CD37-targeting radio-immunoconjugate designed to advance the treatment of non-Hodgkin lymphoma (NHL). Betalutin uses monoclonal antibodies to attack the cancer cells in two ways, first as an immunotherapy and secondly as a targeting agent for a radioactive payload and is a combination of radiation therapy and immunotherapy. The firm is also leveraging its expertise in radionuclides and CD37-targeting antibodies, along with partners, to build a pipeline of biopharmaceuticals for a range of haematological cancers.
Nordic Nanovector ASA is a biopharmaceutical company, which engages in the development, marketing, and sale of medical products and equipment for anticancer therapeutics for haematological cancers. The company is headquartered in Oslo, Oslo and currently employs 16 full-time employees. The company went IPO on 2014-07-07. The firm is engaged in the development and commercialization of targeted therapeutics for hematological cancers. Its main product is Betalutin, a CD37-targeting radio-immunoconjugate designed to advance the treatment of non-Hodgkin lymphoma (NHL). Betalutin uses monoclonal antibodies to attack the cancer cells in two ways, first as an immunotherapy and secondly as a targeting agent for a radioactive payload and is a combination of radiation therapy and immunotherapy. The firm is also leveraging its expertise in radionuclides and CD37-targeting antibodies, along with partners, to build a pipeline of biopharmaceuticals for a range of haematological cancers.
First Revenue: Thor Medical generated its first sales in the first half of the year by supplying isotopes to a major pharmaceutical company, marking a symbolic milestone for the business.
Capacity Expansion: The company increased the planned capacity of its AlphaOne plant by 40% in response to strong market demand, with corresponding increases in customer commitments.
Order Backlog: Thor Medical reported a substantial order backlog of NOK 770 million, highlighting strong commercial traction.
AlphaOne Progress: Construction of the AlphaOne plant is on track for budget and timeline, with production expected to begin in Q3 2026.
Funding Secured: The company is fully funded for current operations and the AlphaOne build-out, following a successful capital raise in June.
Market Opportunity: Management emphasized fast-growing demand for alpha-emitting isotopes, citing blockbuster drug adoption and interest from major pharma.
Profitability Outlook: The company expects to reach profitability around the end of 2027 as AlphaOne ramps up output.
