Australian Lifesciences company OncoSil Medical (ASX:OSL) has a new substantial shareholder with the Fremantle-based JK Nominees Pty Ltd.
JK Nominees now holds 20 million shares for a 5.56% stake.
Recently OncoSil was granted a Fast Track review by the European regulator to assess its CE Mark application for OncoSil™ in pancreatic and primary liver cancer (HCC).
A CE Mark is the mandatory regulatory designation required to commercially market and sell OncoSil™ in the European Union, and would also facilitate regulatory approvals, commercialisation and sales of OncoSil™ in other major markets, including Australia, Canada, and Singapore.
The company said it was pleased with the Fast Track review meeting and now anticipates that the Notified Body will make a decision in respect of the CE Mark for OncoSil™ by end of year.
How OncoSil™ works
OncoSil™ is an implantable nuclear medicine (radiotherapy) device that has been successfully piloted in pancreatic and liver cancer.
The device is inserted directly into the centre of the tumour using well established technology.
OncoSil™ has clinically demonstrated target tumour regression (tumour shrinkage) in both solid tumour indications of pancreatic and liver cancer.
Broker valuation
Wilson HTM recently initiated coverage on OncoSil with a Speculative Buy rating and a price target of A$0.35.
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