Oncoinvent Asa · OSL:ONCIN
Oncoinvent Asa — Investor Presentation (May 2026)
27 slides from Oncoinvent Asa's investor presentation, May 2026
Slide 1: Oncoinvent
Oncoinvent Transforming cancer care through direct alpha therapy May 2026
Slide 2: Radspherin®: A Breakthrough in Post-Surgical Cancer Therapy
SUMMARY Radspherin®: A Breakthrough in Post-Surgical Cancer Therapy 1 Non-biological, receptor independent mode of action with alpha emitter 2 Harnessing the advantages of radiopharmaceuticals with lower complexity and risk 2 3 Signals of efficacy: potential game changer in ovarian and colorectal ca
Slide 3: Radiopharmaceutical excellence: expertise across the spectrum
Radiopharmaceutical excellence: expertise across the spectrum Scientific founders Roy Larsen Øyvind Bruland Management Oystein Soug Gro Hjellum Anne-Kirsti Aksnes Kari Myren Ramzi Amri Kristine Lofthus Stian Brekke Chief Executive Officer Chief Operations Officer Chief Clinical Officer Chief Medical
Slide 4: Peritoneal metastases - urgent need for novel treatments
UNMET MEDICAL NEED Peritoneal metastases - urgent need for novel treatments • Peritoneal metastases arise from many different primary cancers • The only treatment option with curative intent is surgery, effect of systemic therapy limited • Surgery leaves behind micro-metastases giving rise to new me
Slide 5: The main cause of death in ovarian cancer
UNMET MEDICAL NEED The main cause of death in ovarian cancer • Despite a comprehensive treatment approach, the majority of patients experience disease recurrence • Ovarian cancer rarely metastasize hematogenously, recurrences almost exclusively confined to the peritoneum • Need for improved first-li
Slide 6: Radspherin® - alpha therapy targeted to and retained in the peritoneum
TREATMENT CONCEPT Radspherin® - alpha therapy targeted to and retained in the peritoneum Radspherin® • Combining alpha-emitting 224Ra with CaCO3 microparticles • Half-life 3.6 days • Therapy with depot effect - 75% of radiation dose delivered the first week • Shelf life 8 days allowing for centraliz
Slide 7: Radspherin® - alpha therapy targeted to and retained in the peritoneum
TREATMENT CONCEPT Radspherin® - alpha therapy targeted to and retained in the peritoneum Radspherin® How does it work? • Combining alpha-emitting 224Ra with • Delivering a high dose of alpha-radiation CaCO3 microparticles directly to the peritoneum through an in- dwelling catheter • Half-life 3.6 da
Slide 8: Ongoing clinical development
Ongoing clinical development 1H25 2H25 1H26 2H26 1H27 2H27 1H28 2H28 Ovarian Ph 1/2a Final Colorectal Final Ph 2 Ovarian N = ~110 Interim Interim Interim Final Completed Upcoming milestones 8
Slide 9: Ongoing clinical development
Ongoing clinical development 1H25 2H25 1H26 2H26 1H27 2H27 1H28 2H28 Ovarian Ph 1/2a Final Colorectal Final Ph 2 Ovarian N = ~110 Interim Interim Interim Final Completed Upcoming milestones 9
Slide 10: Radspherin® - phase 1 study in ovarian cancer
Radspherin® - phase 1 study in ovarian cancer RAD-18-001: in patients after secondary debulking 4 clinical sites: surgery of platinum-sensitive recurrent ovarian cancer • Oslo, Norway(PI: Yun Wang) • single-arm open label study • Leuven, Belgium (PI: Els van Nieuwenhuysen) • 3 + 3 dose-escalation (1
Slide 11: Ovarian cancer: Preventing disease progression
PHASE 1 RESULTS Ovarian cancer: Preventing disease progression 24 months data from 10 patients receiving 7 MBq dose vs historical recurrence rates Recurrence rate Historical controls “These final results are truly encouraging, suggesting that Radspherin® could help delay disease progression and offe
Slide 12: Ovarian cancer: Preventing disease progression
PHASE 1 RESULTS Ovarian cancer: Preventing disease progression 24 months data from 10 patients receiving 7 MBq dose vs historical recurrence rates Recurrence rate Historical controls “These final results are truly encouraging, suggesting that 30 % Radspherin® could help delay disease progression and
Slide 13: Ovarian cancer: Preventing disease progression
PHASE 1 RESULTS Ovarian cancer: Preventing disease progression 24 months data from 10 patients receiving 7 MBq dose vs historical recurrence rates Recurrence rate Historical controls “These final results are truly encouraging, suggesting that 10 % 30 % Radspherin® could help delay disease progressio
Slide 14: Ongoing clinical development
Ongoing clinical development 1H25 2H25 1H26 2H26 1H27 2H27 1H28 2H28 Ovarian Ph 1/2a Final Colorectal Final Ph 2 Ovarian N = ~110 Interim Interim Interim Final Completed Upcoming milestones 14
Slide 15: Design: Phase 1/2a in colorectal cancer
Design: Phase 1/2a in colorectal cancer The trial: (RAD-18-002) Radspherin after Two clinical sites: cytoreductive surgery and HIPEC in patients with peritoneal metastasis from colorectal cancer • Oslo, Norway (PI: Stein Larsen) • Uppsala, Sweden (PI: Wilhelm Graf) • Single-arm open label study • 3
Slide 16: Colorectal cancer: final phase 1/2a data confirm peritoneal control
PHASE 1 RESULTS Colorectal cancer: final phase 1/2a data confirm peritoneal control Topline 18-months data of 36 patients receiving 7 MBq dose vs historical recurrence rates Peritoneal recurrence rate "It’s highly encouraging to see Radspherin® Historical control patients treated with Radspherin ach
Slide 17: Controlling peritoneal disease may significantly improve survival in colorectal cancer
Controlling peritoneal disease may significantly improve survival in colorectal cancer First disease recurrence after treatment 1 Impact of site of first site of recurrence 1 1/3 peritoneal only Median overall survival - from the time of recurrence: 1/3 combined • After distant metastasis only: 44 m
Slide 18: Strong safety profile demonstrated in the completed phase 1/2a studies
PHASE 1/2A RESULTS Strong safety profile demonstrated in the completed phase 1/2a studies in ovarian and colorectal cancer Well tolerated and safe • No dose limiting toxicity to use • Only three SAEs possibly related to Radspherin* No evidence of systemic • Radiation dose retained in the peritoneal
Slide 19: Microparticle retention limits off-target organ exposure
PHASE 1/2A RESULTS Microparticle retention limits off-target organ exposure • Absorbed doses below 1 Gy* for all organs measured • Highest absorbed doses to organs at risk for endosteal bone surface cells, followed by kidney, liver, and red bone marrow • No signs of hematological, kidney or liver to
Slide 20: Ongoing clinical development
Ongoing clinical development 1H25 2H25 1H26 2H26 1H27 2H27 1H28 2H28 Ovarian Ph 1/2a Final Colorectal Final Ph 2 Ovarian N = ~110 Interim Interim Interim Final Completed Upcoming milestones 20
Slide 21: Randomized Phase 2 study in first-line treatment of ovarian cancer
PHASE 2 PROGRAM – OVARIAN CANCER Randomized Phase 2 study in first-line treatment of ovarian cancer Patient population • primary advanced ovarian cancer Randomised SoC+ Radspherin Primary • undergoing neoadjuvant Safety Imaging every cohort endpoint: chemotherapy and interval run-in 2:1 3 months up
Slide 22: Peritoneal metastases represent a significant market opportunity
MARKET OPPORTUNITY Peritoneal metastases represent a significant market opportunity High addressable patient number Limited competition Adds perfectly to existing patient flow • ~24 000 addressable patients in ovarian • Distinguished by its unique mechanism of • Surgery is and will remain the corner
Slide 23: Pipeline in one product - broad clinical application
MARKET OPPORTUNITY Pipeline in one product - broad clinical application • Peritoneal metastases arise from many Extraperitoneal Intraperitoneal different cancers origin origin Lung cancer Cholangiocarcinoma • Radspherin® is a receptor-independent Breast cancer Gastric cancer treatment: Malignant mel
Slide 24: Oncoinvent pursues peritoneal metastases within the radiopharma landscape
MARKET OPPORTUNITY While the radiopharma sector is largely concentrated in two indications, Oncoinvent pursues peritoneal metastases Snapshot of the Radiopharma Landscape 224Ra 212Pb 225Ac 177Lu Other Commentary metastases Peritoneal • Harnessing the advantages of radiopharmaceuticals with reduced c
Slide 25: In-house GMP pilot plant with attractive capabilities
MANUFACTURING AND SUPPLY In-house GMP pilot plant with attractive capabilities Oncoinvent has in-house GMP 224Ra produced from 228Th, which Microparticles and finished goods production capability has multiple sources produced in-house • Capacity of ~200 doses Radspherin annually, outsourcing and sca
Slide 26: Radspherin® - solid multilayer intellectual property protection
INTELLECTUAL PROPERTY Radspherin® - solid multilayer intellectual property protection Radspherin® composition of matter & use • Granted in US, EU, China, Japan and additional countries • Patent expiry 2035 (2036 in some countries) with an option for 5 years extension Radspherin® formulation • Filed
Slide 27: A unique radiopharmaceutical opportunity
SUMMARY A unique radiopharmaceutical opportunity 1 Experienced team with track record from radiopharmaceutical developments and exits 1 2 Targeted, non-biological, receptor independent lower risk mode of action 2 3 Compatible 3 with established treatment regimes - adds well to existing patient flow