Oncoinvent Announces Changes to its Board of Directors and Formation of Scientific and Clinical Advisory Board

Oncoinvent AS, a clinical stage company advancing alpha emitter therapy across a variety of solid cancers, today announced the appointment of newly elected members of its Board of Directors (BOD) and the formation of a Scientific and Clinical Advisory Board under the leadership of founding scientists Roy Larsen and Øyvind Bruland, previous board members and leading experts in oncology and pharmaceutical development.

"We are excited to welcome an internationally renowned group of industry leaders as new members of our Board of Directors. The extensive business and industry experience of these newly elected members will provide valuable guidance and leadership in furthering our mission during this pivotal time in Oncoinvent's advancement," said Anders Månsson, Chief Executive Officer of Oncoinvent. "We are also pleased to announce the formation of a Scientific and Clinical Advisory Board, consisting of our highly distinguished founders who are uniquely positioned to support Oncoinvent in our clinical programs. We believe that their breadth of resources and deep scientific knowledge, as well as their continued investment in the company, will provide critical insight as we prepare to move forward with the initiation of a Phase 2b clinical trial for Radspherin^® in ovarian cancer, and seek to rapidly advance Radspherin^® for colorectal cancer to Phase 3 testing following the completion of our Phase 2a study."

The newly appointed members of the Oncoinvent Board of Directors are as follows:

• Gillies O'Bryan-Tear, Chair, has over 30 years of experience in the pharmaceutical industry in clinical development, medical management and commercial roles. He has held senior leadership positions at a range of pharmaceutical and biotech companies in the US and Europe including Sanofi Aventis, Bristol-Myers Squibb, GSK, Takeda Pharmaceuticals, and Algeta ASA, and has been involved in multiple product approvals. Dr. O'Bryan-Tear has been an adviser to several US and European biotech companies and has held board positions at Fusion Pharmaceuticals and Clarity Pharmaceuticals. He holds a B.A. and M.B.B.S. from the University of Cambridge and an M.B.A from the Cranfield School of Management.

• Ingrid Teigland Akay is a founder and managing partner at Hadean Ventures. She also currently serves as a board member for Alex Therapeutics, Neuro Events Labs and Attgeno AB. Dr. Akay has supported start-up companies globally in multiple phases of development, from R&D to commercialization and has had previous medical experience in general medicine, surgery and psychiatry, with exposure to both the public and private sector. She holds a medical degree from Diminished Hochschule Hannover and an M.B.A. in Finance from London Business School.

• Kari Grønås is a managing director at K&K AS and holds board positions at Arxx Therapeutics, Ultimovacs and Spago Nanomedical AB. She has extensive experience in drug development and commercialization in the pharmaceuticals industry and has been involved in product regulatory approvals, including Xofigo and Hexvix. Ms. Grønås has also held previous leadership and management roles at Algeta ASA, PhotoCure and Nycomed Imaging/Amersham Health (Now GE Healthcare). She holds a M. Pharm. degree from the University of Oslo.

• Hilde Steineger, Ph.D., is the Chief Operating Officer and co-founder of NorthSea Therapeutics B.V. and Chief Executive Officer at Staten Biotechnology. She has held former board positions at Strongbridge BioPharma, Nordic Nanovector, PCI Biotech, Weifa AS, Inven2, Algeta ASA and Clavis Pharmas ASA. She has extensive experience in strategy and innovation, business development and investor relations, having held leadership positions at BASF and Pronova BioPharma. Dr. Steineger holds a Ph.D. in Medical Biochemistry and an M.Sc. in Biotechnology from the University of Oslo.

• Orlando Oliveira is Senior Vice President, Head of International at Mirati Therapeutics (acquired by BMS). He has nearly 25 years of experience in the pharmaceutical and biotech industry and has held previous leadership positions at Agios Pharmaceuticals (oncology business acquired by Servier in 2021), TESARO (acquired by GSK in 2019) and Cubist Pharmaceuticals (acquired by Merck/MSD in 2015). He has also held positions in medical, commercial, and general management during his 13 years at Amgen. Mr. Oliveira holds an M.Sc. in Pharmaceutical Sciences and a post-graduate degree in Drug and Pharmacy Law from Universidade de Coimbra.

Anne Cecilie Alvik remains as an employee elected board member.

In addition, Oncoinvent founding scientists Roy Larsen, Ph.D., and Øyvind Bruland, M.D., Ph.D., previously board members, will lead a newly established Scientific and Clinical Advisory Board. Both Dr. Larsen and Dr. Bruland have extensive experience the development of radiopharmaceuticals, as co-founders of several companies including Oncoinvent AS, Algeta AS, Nordic Nanovector AS, and ARTBIO.

About Oncoinvent
Oncoinvent AS is a clinical stage company developing innovative radiopharmaceutical technology that delivers precise, alpha-emitting particles across solid cancers. By leveraging internal manufacturing and supply chain capabilities to enable a clinical supply of radioisotopes, the company is advancing a pipeline of novel products that use alpha particles, a higher Linear Energy Transfer (LET) form of radiation, that can potentially eradicate cancer cells. Oncoinvent's lead candidate, Radspherin^®, is designed for treatment of metastatic cancers in body cavities, and its versatility allows it to be deployed for the treatment of a variety of cancer indications. Radspherin^® is in two ongoing clinical studies to treat peritoneal carcinomatosis from both ovarian cancer and colorectal cancer.

Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are forward-looking statements and are not a representation that Oncoinvent's plans, estimates, or expectations will be achieved. These forward-looking statements represent Oncoinvent's expectations as of the date of this press release, and Oncoinvent disclaims any obligation to update the forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including with respect to whether the results of clinical or other studies will support the use of our product offerings, the impact of results of such studies, our expectations of the reliability, accuracy and performance of our tests, or of the benefits of our tests and product offerings to patients, providers and payers.