NORDIC NANOVECTOR ENTERS COLLABORATION WITH PAUL SCHERRER INSTITUTE TO DEVELOP NEW ANTIBODY RADIONUCLIDE CONJUGATES FOR TREATING LEUKAEMIAS

Oslo, Norway, 11 April 2016

Nordic Nanovector ASA (OSE: NANO), an innovative biotechnology company focusing on the development and commercialisation of novel targeted therapeutics in haematology and oncology, announces it has entered into a research and development collaboration programme with Paul Scherrer Institute (PSI) in Switzerland. The collaboration aims at developing new antibody radionuclide conjugates (ARCs) optimised for the treatment of single cell leukaemias, such as chronic lymphocytic leukaemia (CLL) and acute myeloid leukaemia (AML).  CLL and AML are serious orphan diseases with a survival rate for AML at 5 years of only 26%, and 82% for CLL. It is a significant unmet medical need, which affect more than 50,000 patients per year worldwide. Together these two indications represent a growing market worth over USD 4 billion per year.

The collaboration will explore the use of different radionuclide payloads, provided by PSI, linked to Nordic Nanovector’s chimeric anti-CD37 antibody (NNV003) to combine specific tumour-targeting with tumour-eradicating radiation. Successful candidates are expected to be advanced into preclinical and clinical trials.

The collaboration will benefit from grant funding recently awarded to Nordic Nanovector from the Research Council of Norway’s user-driven research-based innovation program (in Norwegian; Brukerstyrt innovasjonsarena, BIA). (See link: BIA funding)

Nordic Nanovector’s Chief Scientific Officer, Jostein Dahle, commented: “We are delighted that, through this new collaboration, we can benefit from the world-class radionuclide research emanating from PSI to further enhance our own expertise in ARCs. We believe that the potential of our CD37-targeting approaches provides an excellent framework for us to create a pipeline of ARCs with profiles suitable for treating multiple types of leukaemia and lymphoma. This project is a positive step towards Nordic Nanovector’s mission of extending and improving the lives of patients with haematological cancers.”

Nordic Nanovector’s most advanced ARC, Betalutin®, which comprises the murine anti-CD37 antibody (HH1) conjugated to lutetium-177, is currently in a Phase 1/2 clinical trial for the treatment of third and second line non-Hodgkin lymphoma (NHL).  Betalutin® has the potential to be a very valuable treatment alternative for NHL, another very serious and highly prevalent hematological disease, based on the promising efficacy, safety and sustained duration of response data that has been observed in clinical studies to-date.

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For further information, please contact:

IR enquiries:

Luigi Costa, Chief Executive Officer

Cell: +41 79 124 8601

Tone Kvåle, Chief Financial Officer

Cell: +47 91 51 95 76

Email: ir@nordicnanovector.com

Media enquiries:

Mark Swallow/David Dible (Citigate Dewe Rogerson) 

Tel: +44 207 282 2948/+44 207 282 2949

Email: nordicnanovector@citigatedr.co.uk

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 (ARCs) 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 (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 the 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 pipeline of ARCs to treat multiple selected cancer indications.

Further information about the Company can be found at www.nordicnanovector.com

About PSI

The Paul Scherrer Institute (PSI) is the largest research institute for natural and engineering sciences in Switzerland. It conducts cutting-edge research in three main fields: matter and materials, energy and environment and human health. PSI develops, builds and operates complex large research facilities. Every year, more than 2500 scientists from Switzerland and around the world come to PSI to use our unique facilities to carry out experiments that are not possible anywhere else. PSI is committed to the training of future generations. Therefore about one quarter of the staff are apprentices, post-graduates or post-docs.

PSI employs 1900 people, with an annual budget of approximately CHF 380 million, which is primarily financed by the Swiss Confederation.

Further information on PSI can be found at www.psi.ch

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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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