Highlights

• OncoSil Medical shares rose 0.66% to AUD 0.76 on 2 July 2026 after a favourable European clinical research update.

• The company’s European subsidiary was selected to participate in PALACROS, a major academic consortium focused on locally advanced pancreatic cancer.

• OncoSil will participate through the PULSE Phase II trial, a multicentre randomised study involving 120 patients across five European centres.

• The trial will evaluate single versus repeat OncoSil device implantation in unresectable, non-progressive LAPC after induction chemotherapy.

• OncoSil devices will be provided in-kind, with the company estimating around AUD 9 million in cost savings versus a company-sponsored study.

Shares of OncoSil Medical Ltd (ASX:OSL) edged up 0.66% to AUD 0.76 during the morning session on 2 July 2026, after the company announced its selection to participate in PALACROS, a major European academic research consortium focused on improving treatment outcomes for patients with unresectable locally advanced pancreatic cancer. While the share price reaction was modest, the update was favourable as it gives OncoSil access to a European multicentre clinical study pathway without taking on the full cost burden of a company-sponsored trial. Despite today’s gain, the stock remains down 36.13% over the past year, keeping investor focus on clinical progress, adoption potential and commercial execution.

About OncoSil Medical

OncoSil Medical is a global medical device company focused on interventional oncology. The company has developed the OncoSil device for the treatment of unresectable locally advanced pancreatic cancer, also known as LAPC. The device is designed to deliver targeted intratumoural placement of Phosphorous-32 microparticles in addition to chemotherapy.

The company’s approach allows healthcare professionals to deliver a higher radiation dose directly into the tumour compared with external beam radiotherapy, while limiting exposure to surrounding critical organs. OncoSil has received CE Marking approval, providing marketing authorisation in both the European Union and the United Kingdom. The device has also been designated as a breakthrough device in both Europe and the United States.

OncoSil is approved for sale in more than 30 countries, including the European Union, the United Kingdom, Australia, Türkiye and Israel. Commercial treatments using the device have already been undertaken in Spain, Italy, Austria, Germany, Greece, Türkiye, Portugal, Israel and the UK.

European Consortium Selection Puts OncoSil in Focus

The latest announcement confirms that OncoSil Medical Europe GmbH, the company’s wholly owned European subsidiary, has been selected to participate in PALACROS, formally known as Prioritising Multimodal Surgical Care for Patients with Locally Advanced Pancreatic Cancer Across Europe.

PALACROS is a European research and innovation consortium focused on improving outcomes for patients with LAPC. It brings together academic institutions, clinicians, researchers, patient organisations, imaging and artificial intelligence experts, and selected industry partners across Europe.

The consortium is funded by the European Union under the Horizon Europe research and innovation program. Its broader objective is to establish evidence-based multimodal treatment strategies, improve patient selection, support clinical trials, expand specialist training and promote more consistent access to high-quality pancreatic cancer care across Europe.

PULSE Trial to Evaluate Repeat OncoSil Treatment

OncoSil Medical will participate in PALACROS through a dedicated clinical study known as the PULSE Trial. This trial will run alongside the consortium’s flagship randomised clinical trial, but as a separate clinical investigation focused on OncoSil’s technology.

The planned PULSE Trial is a prospective, multicentre, Phase II randomised study. It is designed to evaluate whether repeat intratumoural brachytherapy using the OncoSil device can improve outcomes in patients with unresectable, non-progressive LAPC after induction chemotherapy.

The study will include 120 patients across five European centres. Participants must have unresectable, non-progressive LAPC following at least four months of induction chemotherapy.

Trial Design Targets Local Disease Control

The PULSE Trial will randomise patients on a 1:1 basis into two treatment arms. One group will receive a single OncoSil device implantation, while the other group will receive repeat OncoSil device implantation every three months until disease progression.

The primary endpoint of the study is nine-month local progression-free survival. Secondary endpoints include overall progression-free survival, overall survival, safety and tolerability, quality of life, pain, opioid use, conversion to surgical resection and biomarker assessment.

The study will also include a health economic assessment to evaluate the cost-effectiveness and budget impact of repeat versus single OncoSil device implantation.

Cost-Saving Structure Supports Clinical Evidence Expansion

A key feature of the announcement is the study structure. Under the contract, OncoSil devices will be provided in-kind, while no other study-related costs will apply to OncoSil Medical.

This arrangement allows the company to access a clinical dataset in LAPC without bearing site, monitoring, regulatory, data-management and other operating costs usually associated with a company-sponsored trial of similar size and duration.

OncoSil estimates that the structure could deliver approximately AUD 9 million in cost savings compared with an equivalent OncoSil-sponsored study. The company said the arrangement provides a capital-efficient way to expand the evidence base supporting the OncoSil device in LAPC, with related study costs met by the trial sponsor rather than by OncoSil.

Clinical Data Could Support Regulatory and Commercial Work

Beyond cost savings, the PALACROS participation provides OncoSil Medical with access to resulting clinical data for both regulatory and commercial purposes.

If the data are positive, they may strengthen the evidence supporting the OncoSil device across relevant markets. The company also expects the data could assist engagement with clinicians, payers and regulators as it progresses its commercialisation strategy.

OncoSil noted that if successful trial outcomes support adoption of the OncoSil device as a standard treatment for LAPC, the company would expect higher device utilisation over time. This could create a revenue multiplier effect on a per-patient basis as treated patient volumes increase.

PALACROS Highlights Role of Local Therapies

PALACROS identifies innovative local therapies, including the OncoSil device, as part of its strategy to improve outcomes for patients who remain unresectable after chemotherapy.

The programme aims to generate prospective evidence on therapies that may improve local disease control and potentially increase conversion to surgical candidates. This is relevant because many pancreatic cancer patients are diagnosed at a later stage, which often limits treatment options and contributes to poor long-term survival outcomes.

The PULSE Trial builds on earlier prospective clinical studies, including TRIPP-FFX, PANCOSIL and PANCO, and aims to provide multicentre evidence on whether repeat OncoSil treatment can improve local tumour control and increase the number of patients eligible for curative surgery.

Management Sees Independent Clinical Interest

Chief Executive Officer and Managing Director Nigel Lange described the company’s selection for PALACROS as an important validation for OncoSil. He noted that the consortium is academically driven, funded through a European Union grant and includes leading pancreatic cancer centres.

Management said the inclusion of OncoSil in the initiative reflects growing independent clinical interest in the device and its potential role within future multimodal treatment strategies for locally advanced pancreatic cancer.

The company also highlighted that the dedicated PULSE study creates an opportunity to evaluate repeat OncoSil treatment in a multicentre academic setting while contributing to a broader European pancreatic cancer research programme.

Why the Update Matters for Investors

For investors, the update matters because it combines clinical evidence development, cost efficiency and commercial relevance.

OncoSil is not simply supplying devices into a small observational setting. Instead, the company is participating in a structured Phase II randomised trial across five European centres, with endpoints that include survival measures, safety, quality of life, conversion to surgery and health economics.

The in-kind model also limits the company’s financial exposure while still allowing it to benefit from the resulting data. This is particularly important for a medical device company working to expand evidence and support broader clinical adoption.

What This Means for Investors

OncoSil Medical’s participation in PALACROS represents a favourable clinical development milestone. The company gains access to a European academic research pathway through the PULSE Phase II trial, while avoiding around AUD 9 million in estimated costs compared with sponsoring a similar study itself. The trial could generate useful regulatory and commercial evidence for the OncoSil device in LAPC. Investors are likely to monitor trial execution, patient enrolment, data outcomes and whether successful results can support broader clinical adoption and device utilisation over time.