Oncoinvent Awarded 4,6 MNOK in Innovation Funding

STOCKHOLM, Feb. 26, 2019 /PRNewswire/ -- Oncoinvent is pleased to announce that the Oslo University Hospital and Oncoinvent have each been awarded Innovation Funding to develop Radspherin® as a treatment for colorectal cancer patients suffering from peritoneal carcinomatosis. The two awards make for a combined total of 7,9 million NOK where Oncoinvent will receive 4,6 MNOK and Oslo University Hospital 3,3 MNOK. The Innovation Norway grants will allow Oncoinvent to expand the clinical use of Radspherin®  from the current planned study in ovarian cancer patients and enables the company to carry out phase 1 clinical trials to assess the clinical safety of Radspherin® in colorectal cancer patients as well.

Jan A. Alfheim, Oncoinvent CEO commented, "We are very grateful for this support from Innovation Norway.  The Innovation funding will allow Oncoinvent to expand Radspherin® 's potential indications for use and to reach many more patients suffering from peritoneal carcinomatosis more quickly than would have otherwise been possible. We now plan to initiate two phase I trials, one in ovarian cancer patients, and a second in colorectal cancer patients."

For further information, please contact:

Jan A. Alfheim
Chief Executive Officer
Cell: +47-46-44-00-45
Email: alfheim@oncoinvent.com

IR enquiries:

Tore Kvam
Chief Financial Officer 
Cell: +47-95-93-41-99 
Email: kvam@oncoinvent.com 

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