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