- Business
- Thor Medical ASA, a Norway-based biotechnology company founded in 2017 and headquartered in Oslo, produces and supplies alpha-particle emitters for targeted cancer therapies using a proprietary process that separates naturally occurring radioactive decay products from thorium-232 (Th-232); its core products include thorium-228 (Th-228) as a precursor for lead-212 (Pb-212), radium-224 (Ra-224), and related alpha-emitting isotopes that enable radionuclide therapy (RNT) and radioligand therapy (RLT) with high energy deposition, short range, and minimal damage to healthy tissue. The company targets radiopharmaceutical developers and suppliers addressing unmet needs in oncology, including hard-to-treat solid tumors and hematological cancers such as lymphoma, leukemia, and metastasized prostate cancer; it operates primarily from Norway with its AlphaOne commercial-scale production facility under construction at Herøya Industripark, slated to commence thorium-based isotope output in the third quarter of 2026. Formerly known as Nordic Nanovector ASA, Thor Medical has pursued strategic growth through recent five-year supply agreements for Th-228, including partnerships with global radiopharmaceutical leader Telix Pharmaceuticals Limited in November 2025 to support Pb-212-based next-generation therapies and with NucliThera AS in November 2025 for hematological cancer programs led by veterans of FDA-approved alpha-emitter Xofigo; these deals expand its customer portfolio alongside prior commitments from Oncoinvent, AdvanCell, ARTBIO, and others, while pilot facilities established at Herøya in 2024 enable customer sample qualification and conversion of letters of intent into binding contracts.