Oslo, Norway, 14 September 2021

Nordic Nanovector ASA (OSE: NANOV) announces the appointment of Erik Skullerud as Chief Executive Officer (CEO). He will take up the position on 20 September 2021 and will be based in the company's office in Zug, Switzerland, splitting his time between Zug and Nordic Nanovector's head office in Oslo.

Mr Skullerud joins the Company from Element Consulting GmbH, a globally focused boutique advisory and consultancy specializing in the life science industry where he was co-founder and managing partner.

Prior to establishing Element Consulting, Mr Skullerud spent 25 years in the biopharma industry with increasing responsibility in global sales and marketing management roles. This included more than 15 years at Amgen, where his most recent role was as Marketing Director Europe Oncology/ Hematology. Prior to that, he worked for Bayer Pharma for seven years, most recently as Product Group Manager for Cardiovascular/ Diabetes Scandinavia.

Mr Skullerud has launched numerous highly innovative products in therapeutic areas such as oncology, haematology, cardiology, and nephrology and he has significant business management exposure to EU, Asian and US markets. As a consultant he has worked with some of the world's top pharma and biotech companies as well as small, highly specialised start-ups on projects ranging from corporate strategy, through early to mid-stage launch and commercialization to late-stage life cycle projects.

Mr Skullerud is a Norwegian national and a Swiss resident. He has a BSc, Marketing, Finance and Management from Gothenburg Business School, University of Gothenburg and has been a Guest Lecturer, INSEAD MBA Program, Paris, France.

Jan H. Egberts, Chairman of Nordic Nanovector's Board of Directors, said: "I am very pleased that Erik has agreed to join Nordic Nanovector. His commercial leadership experience combined with his knowledge of the oncology/haematology space will be vital as we evolve into a larger and more valuable business based on maximising the commercial potential of Betalutin®. I would like to thank Malene Brondberg for stepping up to the role of Interim CEO over the last few months, a period when the company has made good progress in delivering on its key objectives. Malene will continue in her role as CFO."

Mr Skullerud added: "I am very much looking forward to this new role at Nordic Nanovector. I believe my experience from around the world in strategy, commercialisation, and sales and marketing can help the company achieve the next important stage of its development as we work to bring Betalutin® to patients for the first time, a key step in realising the wider value of the business."

When joining Nordic Nanovector, Mr Skullerud will be granted 350,000 PSUs (performance share units).

For further information about the PSUs and the related warrants, see page 28 in the company's annual report for 2020.

For further information, please contact:

IR enquiries

Jan H. Egberts, Chairman of Nordic Nanovector
Tel: +31 614672518
Email: janegberts@aol.com

Media Enquiries

Mark Swallow/Frazer Hall/David Dible (MEDiSTRAVA Consulting)
Tel: +44 203 926 8535
Email: nordicnanovector@medistrava.com

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 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-conjugate 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 26 billion by 2028. Nordic Nanovector retains global marketing rights to Betalutin® and intends to actively participate in the commercialisation of Betalutin® in the US and other major markets.

Further information can be found at www.nordicnanovector.com (https://nam10.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.nordicnanovector.com%2F&data=04%7C01%7CMark.Swallow%40medistrava.com%7Ca91a12b7fd1942b911c508d9639fcaf4%7C5c24475f929349d0b4e1ba6d190e92f9%7C0%7C0%7C637650361008661079%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&sdata=YpIUKimx78JX14KG4Tcg6D3vx2RnTkqhO2n06S0%2B8ag%3D&reserved=0).

Forward-looking statements

This press release contains certain forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on Nordic Nanovector's business, financial condition and results of operations. The terms "anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "targets", "will", "would" or, in each case, their negative, or other variations or comparable terminology are used to identify forward-looking statements. These forward-looking statements are not historic facts. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied in the forward-looking statements. Factors that could cause these differences include, but are not limited to, risks associated with implementation of Nordic Nanovector's strategy, risks and uncertainties associated with the development and/or approval of Nordic Nanovector's product candidates, ongoing and future clinical trials and expected trial results, the ability to commercialise Betalutin®, technology changes and new products in Nordic Nanovector's potential market and industry, Nordic Nanovector's freedom to operate (competitors patents) in respect of the products it develops, the ability to develop new products and enhance existing products, the impact of competition, changes in general economy and industry conditions, and legislative, regulatory and political factors. No assurance can be given that such expectations will prove to have been correct. Nordic Nanovector disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This information is subject to a duty of disclosure pursuant to Sections 4-2 and 5-12 of the Securities Trading Act.