OncoSil Medical (ASX:OSL) has completed a capital-raising initiative to fund clinical development, manufacturing expansion, and commercial activities as the company continues to advance its targeted pancreatic cancer treatment technology.
The Sydney-based medical device company announced that its non-renounceable entitlement offer had raised about $2 million and was fully subscribed, including the underwriting commitment from Bell Potter Securities.
In its announcement to the market, the company stated it “is pleased to provide the results of the Company’s non-renounceable entitlement offer as announced to ASX on 3 February 2026.”
The offer attracted participation from a portion of existing shareholders, with around six per cent of eligible investors taking up their entitlements. The remaining allocation was placed with the underwriter under the terms outlined in the prospectus.
Through the entitlement offer, investors were invited to subscribe for one new share for every 6.4 shares held at an issue price of 68 cents per share, with each new share accompanied by one new option. The company received valid applications for more than two million new shares, generating proceeds of about 1.4 million dollars through shareholder participation, including applications submitted under the top-up facility.
Under the top-up facility, eligible shareholders were able to apply for additional shares beyond their entitlement. Applications through this facility formed part of the total valid applications received under the offer.
The remaining shortfall of more than 900,000 shares will be issued to the underwriter, bringing the total number of securities issued under the offer to almost three million shares and options and lifting the gross proceeds to just over two million dollars.
The new shares and accompanying options are scheduled to be issued on 17 March 2026 and will rank equally with existing ordinary shares already on issue. The options carry an exercise price of 90 cents and are set to expire on 30 June 2027.
Funds raised through the entitlement offer, together with a previously announced placement, will be directed toward advancing clinical trials, supporting manufacturing capability, strengthening sales and marketing activities, expanding market access initiatives and providing general working capital for the company’s operations.
OncoSil Medical is focused on interventional oncology and is developing the OncoSil device, a treatment designed for patients with unresectable locally advanced pancreatic cancer. The technology delivers targeted radiation directly into tumours using phosphorus-32 microparticles, in combination with chemotherapy, to improve outcomes while minimising damage to surrounding organs.
Pancreatic cancer remains one of the most challenging cancers to treat worldwide, with around half a million new cases diagnosed each year and survival rates remaining low due to late-stage detection in many patients.
The OncoSil device has received regulatory approval in multiple jurisdictions, including the European Union and the United Kingdom, and is already approved for sale in more than 30 countries, with commercial treatments undertaken across Europe, the Middle East and the UK.