After a year of control and clinical trials, expansion, and commercialisation in over 38 countries and a capital raise designed to reinforce OncoSil’s market presence, a major insurer in the UK has given its stamp of approval for the ground-breaking cancer treatment. At Imperial College Healthcare NHS Trust, one of the largest private insurance companies has approved reimbursements for the Oncosil Medical Ltd. (ASX: OSL) treatment. 

OncoSil™ was created for the treatment of patients with locally advanced unresectable pancreatic cancer, in combination with gemcitabine-based chemotherapy. OncoSil Medical Ltd (ASX: OSL) has built a medical device that focuses on delivering localised treatment for patients with advanced pancreatic cancer (LAPC). 

Why Does this Matter? 

• Imperial College Healthcare NHS Trust a Trust from the National Health Service in the United Kingdom, lodged at the prestigious Imperial `College London, an academy for healthcare sciences and engineering. Imperial College is one of the most prestigious universities in the World, with world-class health care and engineering faculties, the 
• Imperial College Healthcare NHS Trust is collaborating with OncoSil to enable coverage from the UK’s largest private insurance company, allowing the treatment of LAPC. This means more people will be able to be reimbursed for using OncoSil and equally illustrates that the technology and treatment are viewed as credible by insurers. As important gatekeepers in the healthcare industry, they ensure a mix of balance and access through premiums. As such, this move will improve the quality of pancreatic cancer care, whilst ensuring more people can access the treatment from OncoSil. 
• This will equally encourage more insurers across the UK and Europe to collaborate with OncoSil (ASX: OSL) in order to broaden reimbursement options and enhance patient accessibility for treatments well beyond the facilities of Imperial College Healthcare NHS Trust. This will encourage other treatment centres and hospitals to equally accept OncoSil Ltd. (ASX: OLS) treatment and ensure a greater number of patients are given access to the treatment. 

OncoSil  Medical  CEO  &  Managing  Director  Nigel  Lange said: “With a prominent health insurance  provider now committed to covering  the costs of the OncoSil device, patients dealing with locally advanced pancreatic cancer can now avail themselves of this groundbreaking treatment at Imperial College Healthcare NHS Trust. We eagerly anticipate collaborating with other healthcare facilities across the United Kingdom, as well as further private insurers, to ensure broader accessibility to the OncoSil device for all individuals who could potentially benefit from its innovative approach. This endeavour stands as a pivotal focus for our company, and we are actively pursuing reimbursement initiatives in other regions as well."

Who is OncoSil Anyways? 

OncoSil Medical Limited (ASX: OSL) is an Australian-listed medical device company advancing targeted radiation for cancer patients. OncoSil Medical (ASX: OSL) uses a radioactive isotope  (Phosphorus-32), that is implanted directly into a patient's pancreatic tumour via an endoscopic ultrasound. 

OncoSil is one the most Innovative pancreatic Cancer Treatments

Treatment with OncoSil is expected to deliver more concentrated and localised beta radiation compared to external beam radiation. OncoSil Medical has completed 6 clinical trials that have delivered strong positive results on safety and efficacy. The CE marketing is now approved for one OncoSil device that is marketed across the European Union and the United Kingdom, where it has been classed as a breakthrough device. In the United States, an Investigational Device Exemption (IDE) has been granted to Oncosil Medical Limited (ASX: OSL) by the Food and Drug Administration to support further clinical trials. This means that OncoSil is judged to be a very unique and potentially distinct treatment for pancreatic cancer. 

The U.S. regulators Grant Humanitarian Use

In December 2018, the FDA granted a Humanitarian Use Designation (HUD) for the OncoSil™ device, used in treating bile duct cancer. In March 2020, the FDA granted breakthrough device designation for the OncoSil device used for unresectable pancreatic cancer in conjunction with systemic chemotherapy. 

Pancreatic cancer tends to be diagnosed at a later stage, reducing the chances of survival. The World Cancer Research Fund estimated that in 2012, 338,000 people were diagnosed with pancreatic cancer and the five-year survival rate suggests that the quality of treatments can be improved to benefit patients and prolong their lives. The estimated market for OncoSil is $3bn after Bupa became the first UK insurer to accept Oncosil reimbursements in 2022.