Fast growing novel market for cancer treatment
The radiotherapeutics market is expected to grow significantly in the coming years and reach close to USD 20bn by 2030. Radionuclide therapy based on alpha emitters is a promising technology for cancer treatment. However, alpha emitters are in short supply and the current production processes are dependent on irradiation, which is expensive and complex.
Proprietary, clean, reliable, and cost-effective production process
Thor Medical has developed a reliable and environmentally friendly production technology for alpha emitters, independent of nuclear reactors and charged particle accelerators.
Experienced Board and Management
Experienced board, management, and technical advisory team with proven track record of industrializing new technologies.
Going forward, the main business focus will be to refine the production technology, secure customer qualification and commitments, mature the manufacturing concept, and secure regulatory approvals and permits for industrialization. Subject to the outcome of customer qualification processes, Thor Medical is currently targeting to make a final investment decision on an industrial scale manufacturing facility in 2025. Capex for the first manufacturing facility is estimated at NOK 350million, with expected revenues in above NOK 400 million.