Thor Medical ASA

Regulatory Filings • Dec 23, 2025

Thor Medical reaches key construction milestones at AlphaOne plant

Thor Medical reaches key construction milestones at AlphaOne plant

23.12.2025 08:00:00 CET | Thor Medical ASA | Non-regulatory press releases

Oslo, 23 December 2025 - Thor Medical, a leading emerging supplier of

alpha-emitters for next-generation precision cancer treatment, has now started

equipment installation at the AlphaOne plant, its first commercial-scale isotope

production facility under construction at Herøya Industrial Park, Norway.

Thor Medical has officially taken over the new laboratory and associated

infrastructure at Herøya and completed the first equipment installations

starting with large tanks for the storage of thorium raw material.

This represents a key milestone in the build-out of the plant's core production

infrastructure.

"This milestone at our AlphaOne project reflects the exceptional dedication of

our team and marks an important step toward enabling global radiopharmaceutical

pipelines. By building reliable industrial scale production of alpha emitters,

we are laying the foundation for pharmaceutical partners worldwide to advance

their clinical programs and bring transformative cancer therapies to patients

world-wide." says Jasper C. Kurth, CEO of Thor Medical.

Work on the building infrastructure will continue during the first half of

2026, in parallel with the instalment of processing equipment, electrical

equipment and instrumentation, and hot cells for handling and processing high

activity radioactive material.

"We are on track with our roadmap towards mechanical completion of the plant in

the second quarter 2026 and production start in the third quarter. The progress

demonstrates strong collaboration with our partners, who delivered safely, on

time and on budget," says Brede Ellingsæter, CFO and COO of Thor Medical.

AlphaOne has a planned capacity of 21,000 patient doses in the first phase,

increasing to around 60,000 doses after ten years of operation. The facility is

fully funded, with profitable operations expected toward the end of 2027.

A timelapse video of the installation of thorium storage tanks is available

here: Thorium Tank Installation - Timelapse on Vimeo -

https://vimeo.com/1147996206?share=copy&fl=sv&fe=ci

CONTACTS

Brede Ellingsæter, CFO and COO, Thor Medical ASA, +47 472 38 440,

brede.ellingseter@thormedical.com

About Thor Medical

Thor Medical is an emerging supplier of alpha particle emitters produced from

naturally occurring thorium. Its proprietary production process requires no

irradiation or use of nuclear reactors, and provides reliable, environmentally

friendly, cost-efficient supply of alpha-emitters for the radiopharmaceutical

industry. Thor Medical is headquartered in Oslo, Norway and listed on the Oslo

Stock Exchange under the ticker symbol 'TRMED'.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17848634/18761624/6664/Download%20announce

ment%20as%20PDF.pdf