Pancreatic cancer is notoriously difficult to treat and the total number of cases was estimated at 495,773 in 2020 alone, with over 246840 males and 219163 females impacted by this form of cancer. While traditional chemotherapy has been used for several decades, it causes debilitating pains and increases recovery times. Oncosil is changing this, but providing localised treatment for pancreatic cancer patients. The Australian-based company has created a medical device equipped with radioactive isotopes (Phosphorous-32), which are implanted directly into tumours in a treatment known as brachytherapy. As a result, patients can benefit from concentrated and localised radiation while protecting the surrounding tissue. 

In How Many Countries is the OncoSil Device Available? 

The Oncosil device is being used in over 35 countries. The company is currently raising $7.1 million to expand and accelerate adoption across hospitals and increase doctor training on how to use it to treat patients suffering from pancreatic cancer. The company has equally submitted additional information to the Food and Drug Administrator (FDA) in the United States (U.S.) to ensure it can be used across a range of U.S. hospitals. This will benefit Europe and North America’s ageing population and revolutionise pancreatic cancer treatment worldwide. 

Costs of Clinical Trials and Expansion of the OncoSil Device 

Clinical trials are taking hold in the Netherlands and Austria, which will further legitimise this form of treatment and support revenue growth over the long run. In 2024, over 10 patients have been treated for pancreatic cancer with the Oncosil device, which is an important step in facilitating its commercialization. Meanwhile, the FDA in the United States has granted it an Investigational Device Exemption (IDE), reinforcing clinical trials due to the uniqueness of the Oncosil device. 

Insurers such as Bupa and the Imperial College Healthcare NHS Trust, one of the largest private insurance companies, have approved reimbursements for the Oncosil Medical Ltd. (ASX: OSL) treatment. This further legitimises Oncosil and illustrates that it will become an important player in the treatment of pancreatic cancer space. 

Oncosil is raising $7.1 million to accelerate commercialisation and boost the manufacturing of its device. The company plans to create a manufacturing plant in Macquarie Park, NSW. This will insulate its supply chains and allow the device to be produced in a manner that facilitates scaling across the world. The proprietary nature of the Oncosil device means that this will protect its intellectual property and shareholder value in the process. This will equally confer it a competitive edge as a localised factory can adapt to new orders more easily and adjust production processes as needed to satisfy demand. Working capital and training of doctors will all provide solid foundations for the share price to perform over the medium term. Oncosil’s revenue growth has increased over the last three years and its current efforts will only reinforce positive revenue generation trends, boosting the share price over the long run. 

What is Speeding Up the OncoSil Device’s Expansion? 

In 2023, Oncosil was focused on gaining further regulatory approval and trained doctors in eighteen (18) hospitals across the world. These doctors are now trained to deliver treatment, with over 7 hospitals regularly delivering treatment and a further three trained to begin treatment sometime in 2024. The first ten patients were treated in Spain and commercial agreements have been completed in Catalunya and the Canary Islands. 

OncoSil (ASX: OSL) is well poised to become a major player in the pancreatic cancer market, and treatment is increasingly being rolled out in Europe and Turkey. This represents a good buy opportunity that could reinforce its share price over the medium term.