NORDIC NANOVECTOR ASA: NEW BOARD MEMBERS ELECTED BRINGING FURTHER EXPERTISE IN THE DEVELOPMENT AND COMMERCIALIZATION OF INNOVATIVE CANCER THERAPIES

Oslo, Norway, 23 May 2016

The annual general meeting of Nordic Nanovector ASA on 19 May elected two new board members, further strengthening the base of international experience as well as oncology/haematology, life science and commercialization expertise of the company’s board.  Dr Renee P Tannenbaum, Pharm. D and Jean-Pierre Bizzari, MD, were elected as new board members. Founder Dr Roy Hartvig Larsen steps down from the board to focus on new research projects.

Dr Renee P Tannenbaum has more than 30 years of experience in leading global biopharmaceutical companies. Most recently, Dr Tannenbaum served as Head of Global Customer Excellence at AbbVie Inc., responsible for building global commercial capabilities for the organization. Dr Tannenbaum also has extensive life sciences consulting and advisory experience as well as leadership experience from companies such as Novartis, Bristol Myers Squibb and Merck. She holds a Bachelor of Science degree in Pharmacy from the University of Connecticut, a Doctor of Pharmacy degree from the Philadelphia College of Pharmacy and Sciences and an MBA from Temple University. She currently serves on the Board of Directors of Zogenix, Inc. and Cipher Pharmaceuticals, Inc. Dr Tannenbaum resides in the US.

“I am honoured to be joining the Board and looking forward to contributing to Nordic Nanovector’s future prospects. My experience in product development and commercialization at a number of pharmaceutical companies will bring valuable perspectives to the planned regulatory pathway and commercialization of Betalutin® and the company’s broader portfolio,” Dr Tannenbaum commented.

Jean-Pierre Bizzari, MD has significant industry experience from leadership positions in oncology with highly reputable companies as Celgene, Rhône-Poulenc and Sanofi-Aventis, where he was involved in the clinical development of several anticancer products, including Taxotere®, Eloxatin®, Revlimid®, Vidaza®, Abraxane® and Irinotecan®. He is a world-renowned oncology expert, member of the Scientific Advisory Board of the French National Cancer Institute and European Organization of Research and Treatment of Cancer and Chairman of the New Drug Advisory Committee. He is also an active board member in various biotech companies in France and the USA. Dr Bizzari holds a medical degree with specialization in oncology from the University of Nice (France) completed with training at the Pitié-Salpêtrière hospital in Paris, the Ontario Cancer Institute and at the Montreal Mac Gill Cancer Center in Canada. Jean-Pierre Bizzari, MD resides in the US.

“Nordic Nanovector has a promising product candidate in Betalutin®. The company is well positioned with its clinical trial program. I am eager to contribute to the further value creation bringing the company into its next phase of development,” said Dr Bizzari.

“We are very pleased to welcome Renee and Jean-Pierre to the Nordic Nanovector Board. Between them, they have a wealth of experience in the global pharma industry and particularly in the clinical and commercial development of innovative cancer therapies. We look forward to the valuable contributions they will make to the company’s further growth and development. We would also like to thank Roy, who stepped down from the Board at the AGM, for his efforts and input since he founded the company and we wish him well with his future endeavours” said Ludvik Sandnes, Chairman of the board in Nordic Nanovector.

Chairman Ludvik Sandnes and board members Per Samuelsson, Hilde Hermansen Steineger and Gisela Schwab were re-elected for one year. After the election, the number of board members has increased from five to six.

For further information, please contact: 

Luigi Costa, Chief Executive Officer

Cell: +41 79 124 8601

Tone Kvåle, Chief Financial Officer

Phone: +47 91 51 95 76

E-mail: ir@nordicnanovector.com

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-Radionclide-Conjugates (ARC) designed to improve upon a 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 USD 12 billion by 2018. Betalutin® comprises a tumour-seeking anti-CD37 antibody (HH1) conjugated to a low intensity radionclide (lutetium-177). The preliminary data has shown promising efficacy and safety profile in an ongoing Phase1/2 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 regulator submission anticipated in 1H 2019. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation to 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 the disclose requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

  

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About Us

About Nordic Nanovector ASA Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The company aspires to become a leader in the development of targeted therapies for haematological cancers.Nordic Nanovector’s lead clinical-stage candidate is Betalutin®, a novel CD37-targeting Antibody-Radionuclide-Conjugates (ARC) designed to advance the treatment of non-Hodgkin’s Lymphoma (NHL). NHL is an indication with substantial unmet medical need, representing a growing market forecast to be worth nearly USD 20 billion by 2024.The Company aims to rapidly develop Betalutin®, alone and in combination with other therapies, for the treatment of major types of NHL, targeting first regulatory submission in relapsed/refractory follicular lymphoma in 1H 2019. Nordic Nanovector intends to retain marketing rights and to actively participate in the commercialisation of Betalutin® in core markets.The Company is also advancing a pipeline of ARCs and other immunotherapies for multiple cancer indications.Further information about the Company can be found at www.nordicnanovector.com

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