Thor Medical ASA

Regulatory Filings • Nov 6, 2025

Thor Medical and Telix Pharmaceuticals sign strategic supply agreement for thorium-228

Thor Medical and Telix Pharmaceuticals sign strategic supply agreement for thorium-228

6.11.2025 07:30:12 CET | Thor Medical ASA | Inside information

Oslo/Melbourne, 6 November 2025: Thor Medical ASA, a leading emerging supplier

of alpha-emitters for next-generation precision cancer treatment, has signed a

strategic master supply agreement with Telix Pharmaceuticals, a global

radiopharmaceutical company headquartered in Australia.

The five-year agreement is for Thor Medical to supply Telix with thorium-228,

which Telix will use as precursor for production of lead-212 for its

next-generation therapeutics pipeline.

"Partnering with Telix, a global leader in radiopharmaceuticals, is a strong

validation of Thor Medical's ability to deliver high purity alpha isotopes at

scale. Together, our aim is to broaden access to next-generation targeted alpha

therapies, with the potential to offer new hope to patients with hard-to-treat

cancers," says Jasper Kurth, CEO of Thor Medical.

The thorium-228 will be supplied from Thor Medical's AlphaOne site, the

company's first commercial-scale plant for radioisotopes currently under

construction with planned production start in Q3 2026.

"Lead-212 is regarded as one of the most promising alpha isotopes, and targeted

alpha therapy is a priority focus in Telix's next-generation therapeutics

pipeline. The partnership with Thor Medical supports our goal to make lead-212

available at commercial scale using our proprietary generator technology and

radiopharmacy network" says Chad Watkins, General Manager Isotope Strategy at

Telix.

Telix is a commercial-stage and rapidly growing radiopharmaceutical company

focusing on advanced precision cancer care with a global network of

manufacturing facilities designed to deliver patient doses worldwide. In March

2025, Telix announced the rollout of its own generator technology for production

of lead-212 using thorium-228 as precursor. The alpha-emitting profile and

relatively short half-life of lead-212 (10.6 hours, compared with 9.9 days for

actinium-225, 225Ac) also offers practical synergies with Telix's engineered

antibody discovery platform, acquired from ImaginAb, Inc. in January 2025.

CONTACT

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

brede.ellingseter@thormedical.com

ABOUT THOR MEDICAL ASA

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'.

ABOUT TELIX PHARMACEUTICALS

Telix is a biopharmaceutical company focused on the development and

commercialization of therapeutic and diagnostic radiopharmaceuticals and

associated medical technologies. Telix is headquartered in Melbourne, Australia,

with international operations in the United States, United Kingdom, Brazil,

Canada, Europe (Belgium and Switzerland), and Japan. Telix is developing a

portfolio of clinical and commercial stage products that aims to address

significant unmet medical needs in oncology and rare diseases. Telix is listed

on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select

Market (NASDAQ: TLX). For further information visit: www.telixpharma.com -

http://www.telixpharma.com

IMPORTANT INFORMATION

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation (MAR) and is subject to the disclosure requirements

pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock

exchange announcement was published by Brede Ellingsæter, CFO & COO, Thor

Medical ASA, at the time and date stated above in this announcement. This

release contains forward -looking information and statements relating to the

business, performance, and matters that may impact the results of Thor Medical.

Forward-looking statements are statements that are not historical facts and may

be identified by words such as "aims," "anticipates," "believes," "estimates,"

"expects," "foresees," "intends," "plans," "predicts," "projects," "targets,"

"potential," and similar expressions. Such forward-looking statements are based

on current expectations, estimates, and projections, reflect current views

concerning future events, and are subject to risks, uncertainties, and

assumptions, and may be subject to change without notice. Forward-looking

statements are not guarantees of any future performance, and risks,

uncertainties, and other important factors could cause the actual business,

performance, results, or the industry and markets in which Thor Medical operates

to differ materially from the statements expressed or implied in this release by

such forward-looking statements. No representation is made that any of these

forward-looking statements or forecasts will come to pass or that any forecasted

performance, capacities, or results will be achieved, and you are cautioned not

to place any undue reliance on any forward-looking statements. This release is

for information purposes only and is not to be relied upon in substitution for

the exercise of independent judgment. It is not intended as investment advice

and under no circumstances is it to be used or considered as an offer to sell,

or a solicitation of an offer to buy any securities or a recommendation to buy

or sell any securities of the Company.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17848634/18692566/6546/Download%20announce

ment%20as%20PDF.pdf