Key Findings
- OncoSil Medical signs an exclusive 3-year distribution agreement with Saudi Arabia-based Abdulla Fouad for Medical Supplies and Services (AFMS).
- Agreement allows AFMS to market OncoSil's pancreatic cancer treatment device in the Kingdom of Saudi Arabia.
- Saudi Arabia has a large and growing healthcare sector with first-class infrastructure.
- OncoSil expects to launch the device in Saudi Arabia once the local registration process is completed.
What is OncoSil Medical?
OncoSil Medical Limited (ASX: OSL) is a company that has developed a cancer treatment device called the OncoSil™ brachytherapy device. This device is a critical component of a revolutionary brachytherapy treatment for locally advanced unresectable pancreatic cancer.
Pancreatic cancer is the 12th most common cancer in men and the 11th most common cancer in women globally, with around 500,000 new cases detected every year. Due to typically late-stage diagnosis, pancreatic cancer has a poor prognosis for long-term survival.
The OncoSil™ device delivers a targeted intratumoral placement of Phosphorus-32 (32P) in the treatment of locally advanced unresectable pancreatic cancer. This occurs via injection directly into a patient's pancreatic tumours under endoscopic ultrasound guidance and takes place in combination with gemcitabine-based chemotherapy.
The OncoSil™ device has already received breakthrough device designation in the European Union, United Kingdom and United States for the treatment of locally advanced unresectable pancreatic cancer in combination with chemotherapy. CE Marking has additionally been granted for the OncoSil™ device, which can be marketed in the European Union and United Kingdom.
Who is Abdulla Fouad for Medical Supplies & Services (AFMS)?
AFMS is a medical/healthcare company that is part of the dynamic Saudi Arabia-based conglomerate, the Abdulla Fouad Group (AFG) of companies. Since its establishment in 1983, AFMS has been at the forefront of Saudi Arabia's healthcare vendors, assisting the Kingdom in providing the best healthcare solutions to its citizens.
The company's team of high-calibre professionals, together with its wide-ranging operations infrastructure, has enabled it to gain exclusive regional representation for a wide range of international manufacturers and suppliers.
What is the significance of this distribution agreement?
OncoSil has signed an exclusive 3-year distribution agreement with AFMS to market the OncoSil™ device in the Kingdom of Saudi Arabia, the largest country in the Middle East region.
This highly significant agreement is a critical step in OncoSil's plans to penetrate the Saudi Arabian healthcare sector, which is growing and has excellent infrastructure. OncoSil expects to launch the OncoSil™ device in the Kingdom of Saudi Arabia once the required local registration process is completed.
Why is Saudi Arabia an important market for OncoSil?
Saudi Arabia possesses a large and growing healthcare sector with first-class infrastructure. The Kingdom is the largest country in the Middle East, making it a significant target market for OncoSil's pancreatic cancer treatment device.
By partnering with a leading Saudi healthcare company like AFMS, OncoSil is well-positioned to introduce its innovative technology to the Saudi market and potentially improve outcomes for pancreatic cancer patients in the region.
OncoSil's exclusive distribution agreement with AFMS represents a key milestone in the company's plans to expand into the Middle East market. By gaining access to Saudi Arabia's large and advanced healthcare system, OncoSil can potentially make its life-saving pancreatic cancer treatment available to more patients in need.
The partnership with AFMS, a highly regarded medical supplier with extensive local knowledge and infrastructure, further strengthens OncoSil's chances of success in this important new market. As OncoSil continues to commercialise its innovative technology globally, agreements like this one with AFMS will be crucial in driving the company's growth and impact on patient care.
