OncoSil Medical (ASX: OSL), which is developing an implantable device to treat pancreatic cancer, is poised to carry out a capital raising and has been granted an ASX trading halt.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 16th September 2013.
OncoSil is developing OncoSil™ as an implantable device that emits radiation directly into the pancreatic tumour, and the pain conducting nerves surrounding it.
Radiation therapy, such as that supplied by OncoSil™ is known to kill tumour cells, and OncoSil™ delivers radiation therapy locally for up to three months.
The device is inserted directly into the centre of the tumour using well established technology in a short 15-30 minute procedure.
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