Meet Øystein Soug

Øystein is CEO of Oncoinvent, where he is leading development of Radspherin, an alpha-emitting radiopharmaceutical designed to target cancer cells in the peritoneal cavity. He brings more than 15 years of biotech leadership experience, including roles at Arxx Therapeutics and Targovax, as well as time as CFO of Algeta, where he helped advance Xofigo through Phase 3 development and supported the company’s sale to Bayer.

Since joining Oncoinvent, Øystein has overseen important progress for Radspherin, including promising Phase 1 efficacy and safety data and the start of Phase 2 development in ovarian cancer. He is also helping build one of Europe’s few fully integrated alpha-radiopharmaceutical platforms, combining clinical development, manufacturing capability, and operational resilience in a field where isotope access, supply chains, and local production can be as critical as the science itself.

“As a classical economist and development aid nerd, I started in emerging market banking in the 1990s, moving into ex-Soviet Union chocolate production, so I would probably have been surprised to end up spending most of my career working at the forefront of oncology innovation. But what has kept me in biotech is the combination of avant-garde science, entrepreneurship, great colleagues, and the possibility of making a real difference for patients.”

“I think the industry is underestimating how transformative radiopharmaceuticals – particularly alpha therapies – may become for solid tumors. There has been a lot of focus on immunotherapy over the last decade, rightly so, but we are now seeing radiopharma evolve from a modality into a highly precise and programmable platform. The ability to deliver potent radiation locally while limiting systemic toxicity is incredibly powerful.”