OncoSil Medical Limited (ASX:OSL) Announces $8.7M Capital Raise to Drive Commercialisation
Capital Raise Details
OncoSil Medical Limited (ASX:OSL) has secured $8.7 million in a combined placement and Share Purchase Plan (SPP). The capital raise, supported by existing and new shareholders including prominent Australian institutional investors, aims to fund the commercialisation of the OncoSil™ device for pancreatic cancer treatment. Post-transaction, the company expects a pro-forma cash balance of $14.1 million, sufficient to support operations through the second half of calendar year 2026.
Clinical Trials Update
The PANCOSIL study is approximately 95% recruited, and the TRIPP-FFX study has reached 99% recruitment. Successful completion of these trials will allow OncoSil to seek label expansions for the OncoSil™ device in existing jurisdictions, broadening its application in interventional radiology and chemotherapy regimens. Additionally, 120 hospitals in Germany are eligible to seek reimbursement for the device under a G-BA approved trial.
Future Outlook
Proceeds from the capital raise will primarily support the commercialisation efforts in Europe and other existing markets. OncoSil aims to achieve cashflow breakeven by the second half of 2026, driven by the expanded market access and ongoing clinical trials.
Executive Comments
Nigel Lange, CEO & Managing Director of OncoSil Medical Ltd, stated, “We are thrilled by the strong investor support afforded in our capital raise from new and existing investors. I want to personally welcome the new investors joining our share register by virtue of the Placement. A significant portion of the new equity received through the raise will fund ongoing commercialisation which is forecast to take OncoSil to cashflow breakeven by H2 CY26.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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