Oncoinvent Reports updated 18-Month Data from Phase 1 Ovarian Cancer Trial with Radspherin®: No new recurrences Demonstrate Continued Promise of Preventing Disease Progression

Oncoinvent ASA, a clinical-stage radiopharmaceutical company developinginnovative treatments for solid cancers, today announced the 18-monthfollow-upresults from its Phase 1 clinical trial (RAD-18-001) evaluating Radspherin® inpatients with platinum-sensitive recurrent ovarian cancer and peritonealcarcinomatosis. The trial was closed for recruitment at the end of 2023 andpatients are currently in long-term follow-up.

In this trial, 10 patients received a single intraperitoneal dose of 7 MBqRadspherin®. Oncoinvent reported 12-month data in November 2024, where only 1out of the 10 receiving the selected dose had peritoneal recurrence. At the18-month follow-up, no further patient had experienced recurrence. i.e., only10% of patients treated have so far had a recurrence. In similar populations,receiving best standard of care, it is expected that approximately 40% ofpatients would have had disease recurrence at this time point , , .

"Ovarian cancer's characteristic peritoneal metastasis lead to frequentrecurrences despite a comprehensive treatment approach," commented Dr. LuisChiva, Principal Investigator and Director of Department of Obstetrics andGynecology, Clinica Universidad de Navarra, Spain. "I am proud to be part of astudy program exploring whether Radspherin® may become a novel therapy thatcanprevent disease progression, offering hope for a better and longer life for mypatients."

"These compelling results underscore Radspherin®'s potential to significantlyreduce peritoneal recurrence in ovarian cancer patients," said Øystein Soug,CEOof Oncoinvent. "The data not only reinforce our confidence in Radspherin® butalso support its advancement in Phase 2 trials, including the ongoingrandomizedcontrolled Phase 2 trial assessing progression-free survival in patients withperitoneal metastasis from ovarian cancer."

To discuss these promising clinical results, provide an update on operations,and discuss the ongoing Phase 2 trial, Oncoinvent has decided to move up itsQuarterly Update from the previously announced May 27 to April 30 at 11:00CEST.

About OncoinventOncoinvent is a clinical-stage biotechnology company developing novelradiopharmaceutical therapies against cancer. The lead product candidate,Radspherin®, uses the alpha-emitting radionuclide radium-224, directlytargetingmicro-metastases post-surgery, harnessing the benefits of modernradiopharmaceuticals without the complexities of biological targeting.Oncoinvent is investigating the safety and efficacy of Radspherin® in aclinicaldevelopment program in two indications. Currently one Phase 1 trial, one Phase1/2a trial and one randomized Phase 2 trial are ongoing in the US, UK andEurope. Preliminary clinical efficacy data are highly encouraging, and noserious toxicity or safety concerns have been reported to date. The Oncoinventteam consists of approx. 30 employees and runs a state-of-the-artmanufacturingfacility to produce drug products for clinical trials in Nydalen, Oslo.Oncoinvent is listed on the Euronext Growth Oslo.

About Radspherin Radspherin® is an investigational radiopharmaceutical designed for the localtreatment of cancer that has spread to body cavities. It consists of billionsofcalcium carbonate microparticles containing the radioactive materialradium-224.The mode of action is the decay of radium-224 emitting alpha-particles, ahighlypotent form of ionizing radiation. Radspherin® is investigated in ongoingclinical studies to treat peritoneal carcinomatoses from ovarian andcolorectalcancer and it is administered intraperitoneally after surgical resection withremoval of all macroscopic tumors.

Forward-Looking StatementsAll statements other than statements of historical facts contained in thispressrelease are forward-looking statements and are not a representation thatOncoinvent's plans, estimates, or expectations will be achieved. Theseforward-looking statements represent Oncoinvent's expectations as of the dateofthis press release, and Oncoinvent disclaims any obligation to update theforward-looking statements. These forward-looking statements are subject toknown and unknown risks and uncertainties that may cause actual results todiffer materially, including with respect to whether the results of clinicalorother studies will support the use of our product offerings, the impact ofresults of such studies, our expectations of the reliability, accuracy andperformance of our tests, or of the benefits of our tests and productofferingsto patients, providers and payers.

For further information, please contact:Øystein Soug, Chief Executive OfficerEmail: soug@oncoinvent.com

Tore Kvam, Chief Financial Officer Email: kvam@oncoinvent.com

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