OncoSil Medical Secures A$5.6m in Funding to Launch Cancer Treatment Device
Australian medical technology company OncoSil Medical has secured A$5.6 million ($4.03 million) in new capital from institutional shareholders, including Australian Ethical Investments and Pengana High Conviction Equities Fund. The funding will support the commercial rollout of its single-use brachytherapy device for treating difficult-to-treat cancers. The company plans to use A$4 million through a share placement priced at $1 per share and an additional A$1.6 million from early option exercises. This brings OncoSil’s pro forma cash reserves to approximately A$12.1 million, strengthening its balance sheet as it prepares for market expansion in Australia and the US. The device has already received regulatory approvals in multiple countries including the US FDA clearance under a Humanitarian Device Exemption pathway. The company also expects key developments such as G-BA funded studies and European regulatory filings by mid-FY27.
