Norway-based Oncoinvent ASA has completed the bookbuilding and allocation for a private placement and retail offering expected to raise NOK 148.5 million (USD 16.2 million) in gross proceeds, with settlement of the private placement scheduled for on or about September 25, 2026. The financing is intended to extend the company's cash runway and fund progression of Radspherin, a receptor-independent alpha-emitting radiopharmaceutical, in a Phase II ovarian cancer trial, with interim readout planned for March or April 2027.
The private placement raised NOK 137.8 million (USD 14.6 million) through 1,531,000 shares at NOK 90 per share, while a concurrent retail offering directed at Norwegian investors raised NOK 10.7 million through 119,000 shares at the same price. Settlement of the private placement is expected on or about September 25, 2026. Major shareholders Linc AB and Hadean Ventures participated through pre-committed pro-rata allocations.
Radspherin is Oncoinvent’s lead clinical-stage asset, consisting of radium-224-loaded calcium carbonate microparticles administered intraperitoneally after cytoreductive surgery to target residual peritoneal disease. The ongoing randomized Phase II ovarian cancer trial has enrolled 69 of 108 planned patients, with recruitment expected to complete around April 2027. Oncoinvent now plans a more mature interim analysis in March or April 2027, when close to all patients are expected to be enrolled and around 40–45 will have at least nine months of follow-up. The financing is expected to extend cash runway into H2 2027 and support Phase III preparation and regulatory discussions with the FDA and EMA.