OncoSil Medical (ASX: OSL) has received a notice of initial substantial shareholder from WebInvest as trustee for OLSB Unit Trust, which acquired 12,432,673 shares or a 5.14% stake.
The holder had acquired the shares over a period from 1 March 2013 to 15 August 2013 for a total of $464,758.70.
OncoSil has recently taken a step towards commercialising its pancreatic cancer treatment medical device OncoSil™ with the initiating of a gap analysis assessment that will define the pathway to a pre Investigation Device Exemption (IDE) meeting with the U.S. Food and Drug Administration (FDA).
OncoSil is developing OncoSil™ as an implantable device that emits radiation directly into the pancreatic tumour, and the pain conducting nerves surrounding it.
Notably, the company is seeking to register OncoSil™ as a medical device in all major markets as they have a fraction of the development cost compared to drugs and are faster to register, making for a better return on investment.
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