Nordic Nanovector update following shareholder vote against proposed merger with APIM Therapeutics
Oslo, Norway, 9 December 2022
Nordic Nanovector ASA (OSE: NANOV) ("Nordic Nanovector" or the "Company") today announces an update following the Extraordinary General Meeting held on 1 December at which the proposed merger transaction with APIM Therapeutics AS (“APIM”) did not obtain a sufficient majority of votes and was therefore voted down.
A new Extraordinary General Meeting ("EGM") will be convened by the Board of Directors with an agenda proposed by North Energy. North Energy is currently the largest shareholder of Nordic Nanovector.
The current Board of Directors of Nordic Nanovector has decided to resign at the upcoming EGM and not to stand for re-election at that meeting.
An invitation to this new EGM to elect both members of the Nomination Committee and a new Board of Directors will be sent out at the start of next week.
Hans Peter Bøhn, as the only remaining member of the Nomination Committee, may be contacted to propose new members of the Nomination Committee and new members of the Board of Directors.
The Board and the company continue to further preserve cash resources and as a result, Malene Brondberg, current interim Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) will transition out of the Company. A search for a new CEO is expected to commence immediately after a new Board of Directors of Nordic Nanovector has been elected.
Chairman, Jan H. Egberts commented: "While the Board believed that the proposed merger with APIM was in the best interests of all shareholders, we did not receive the required level of shareholder support for this transaction. Following this result, Malene Brondberg will end her role as interim CEO and CFO and the current Board will not stand for re-election. I would like to extend the Board’s thanks to Malene for her support of the Company, particularly during the recent and very difficult circumstances we have faced following the disappointing results from the PARADIGME study for Betalutin® in third-line Follicular Lymphoma”.
Contacts
Malene Brondberg, Interim CEO and CFO of Nordic Nanovector
+ 44 7561 431 762
ir@nordicnanovector.com
International Media: Frazer Hall / Mark Swallow (MEDiSTRAVA Consulting)
+44 203 928 6900
nordicnanovector@medistrava.com
Media in Norway – Jan Lilleby / Stein Jacob Frisch (Lilleby Frisch)
+47 916 10 911
About Nordic Nanovector:
Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. The Company's pipeline includes:
- Betalutin® and Humalutin®, both CD37-targeting radioimmunotherapies incorporating the beta emitter lutetium-177 to treat non-Hodgkin's lymphoma (NHL);
- Alpha37, a CD37-targeting radioimmunotherapy candidate incorporating the alpha-emitting radionuclide lead-212, currently being explored with partner Oranomed for chronic lymphocytic leukaemia;
- Multiple fully humanized anti-CD37 antibodies with potential in haematological cancers and autoimmune diseases; and
- A CD37 DOTA CAR-T cell opportunity in haematological cancers, which is being advanced via a research collaboration with the University of Pennsylvania.
Further information can be found at www.nordicnanovector.com.
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