Key achievements in fundraising and market strategy

OncoSil Medical (ASX:OSL) has successfully finalized a $7 million placement and announced an additional $1 million Share Purchase Plan (SPP). These funds aim to enhance the commercialization of the OncoSil™ brachytherapy device for pancreatic cancer and bolster market expansion efforts.

Strategic expansion and future outlook

OncoSil Medical has raised $7 million through a new share placement, with plans to further raise $1 million via a Share Purchase Plan (SPP). These funds will support the commercialization of the OncoSil™ device for pancreatic cancer treatment, complete clinical trials, and expand operations into new markets including Switzerland, Chile, South Korea, France, and the LATAM region. The investment in their Sydney manufacturing facility aims to improve margins, while market penetration efforts focus on both existing and new regions. The SPP opens in November 2024, with the company prepared to address any shortfall. OncoSil Medical's strategic moves highlight its commitment to enhancing cancer treatment and expanding its market presence globally.

Executive insights on strategic fundraising and growth

The capital raise will enable us to complete the TRIPP-FFX clinical trial and expand our market presence, particularly in Switzerland, Chile, South Korea, France, and the LATAM region. We are committed to improving treatment outcomes for pancreatic cancer patients and strengthening our position in the global healthcare market.