OncoSil Medical (ASX:OSL) said the German Institute for the Hospital Remuneration System authorized 120 German hospitals to negotiate fees for the OncoSil device classification under the NUB innovation funding program with statutory health insurance companies as part of annual budget negotiations, according to a Tuesday filing with the Australian bourse.
OncoSil received a "Positive Status 1" classification under the innovation funding program in 2021, the filing said.
In October 2024, the German Federal Joint Committee approved a directive for testing a new treatment method for pancreatic cancer, and in January, approval from the Ministry of Health was received, per the filing.
The Oncosil device is a targetted treatment directly to locally advanced pancreatic cancer delivered via injection and is used in combination with chemotherapy.
Shares surged 40% in recent trade.
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