Nordic Nanovector ASA: Exercise of employee share options and increase of share capital
Oslo, Norway, 24 January 2017.
Participants in Nordic Nanovector ASA's (the "Company") (OSE: NANO) employee share option program, not being primary insiders, have exercised a total number of 56,525 options out of which 600 options have a strike price of NOK 25, 49,675 options have a strike price of NOK 28 and 6,250 options have a strike price of NOK 35. Each option gives the right to receive one share in the Company.
The Board of Directors of the Company has, to fulfil the Company's obligations under the option agreements, resolved to increase the Company's share capital by NOK 11,305 through the issuance of 56,525 new shares, each with a nominal value of NOK 0.20, against payment of a total subscription price of NOK 1,624,650. Subsequent to the issuance of the new shares, the Company's share capital will be NOK 9,806,228.60 divided into 49,031,143 shares, each with a nominal value of NOK 0.20.
For further information, please contact:
Tone Kvåle, Chief Financial Officer
Phone: +47 91 51 95 76
About Nordic Nanovector:
Nordic Nanovector is a biotech company focusing on the development and commercialisation of novel targeted therapeutics in haematology and oncology. The Company’s lead clinical-stage product opportunity is Betalutin®, the first in a new class of Antibody-Radionuclide-Conjugates (ARC) designed to improve upon and complement current options for the treatment of non-Hodgkin Lymphoma (NHL). NHL is an indication with substantial unmet medical need and orphan drug opportunities, representing a growing market worth over $12 billion by 2018.
Betalutin® comprises a tumour-seeking anti-CD37 antibody, lilotomab (previously referred to as HH1), conjugated to a low intensity radionuclide (lutetium-177). The preliminary data has shown promising efficacy and safety profile in an ongoing Phase 1/2 study in a difficult-to-treat NHL patient population. The Company is aiming at developing Betalutin® for the treatment of major types of NHL with first regulatory submission anticipated in 1H 2019.
Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets, while exploring potential distribution agreements in selected geographies. The Company is committed to developing its ARC pipeline to treat multiple selected cancer indications.
Further information about the Company can be found at www.nordicnanovector.com
This information is subject to duty of disclosure pursuant to Section 3.2 of the Continuing obligations for listed companies.