Oslo, Norway, 19 October 2021

Nordic Nanovector ASA (OSE: NANOV) is pleased to announce that it has entered
into a research collaboration with the University of Pennsylvania ("Penn") to
generate a CD37-targeting CAR-T cell approach as a potential treatment for
patients with B-cell malignancies.

The collaboration aims to combine Nordic Nanovector's expertise around CD37, a
protein present on the surface of B-cell tumour cells, with the world-class
expertise in CAR-T cell therapies at Penn. Specifically, researchers at Penn
will look to combine CD37-targeting molecules (antibodies and antibody
fragments) and linkers provided by Nordic Nanovector, with the proprietary CAR-T
technologies developed at Penn, including its proprietary universal immune
receptor developed in the laboratory of Daniel J. Powell Jr., PhD, of the
 Center for Cellular Immunotherapies in Penn's Perelman School of Medicine, that
can direct CAR T cells against multiple tumor associated antigens.

Nordic Nanovector has obtained an option to license exclusive worldwide rights
to any CD37-targeting CAR-T cells that result from this collaboration for
further development.

Jostein Dahle, Nordic Nanovector's Chief Scientific Officer, said: "It is really
exciting to be collaborating with the institute that pioneered CAR-T cell
therapy and to leverage our CD37 biology expertise towards the generation of new
agents with a different mechanism of action to Betalutin® and other molecules in
our pipeline. We believe that CD37 is an important, yet under-exploited target
for new treatments for B-cell malignancies including non-Hodgkin lymphomas. CAR
-T therapies in development for this group of diseases have already demonstrated
they can be highly effective, and we look forward to the outcome of this
collaboration, which has the potential to expand our CD37 franchise in a new
direction."

"We are very pleased to be entering into a collaboration with Nordic Nanovector,
a company that has extensive knowledge of CD37 biology and its utility as a
therapeutic target," said Stephen J. Schuster, MD, the Robert and Margarita
Louis-Dreyfus Professor in Chronic Lymphocytic Leukemia and Lymphoma Clinical
Care and Research at Penn. "Nordic Nanovector has demonstrated the safety and
efficacy of targeting CD37 in clinical trials using radioimmunotherapy, and we
hope to build on this experience with our CAR-T platform to develop therapies
for B-cell malignancies."

For further information, please contact:

IR enquiries

Malene Brondberg, CFO
Cell: +44 7561 431 762
Email: ir@nordicnanovector.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%40medistrav
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2F4IBg8BfYb%2B87dU%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.