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Beskrivning

LandNorge
ListaOB Match
SektorHälsovård
IndustriLäkemedel & Handel
Thor Medical är ett läkemedelsbolag. Bolaget specialiserar sig inom utveckling av antikroppsläkemedel för behandling utav hematologisk cancer. Störst specialisering återfinns inom precisionsterapi som används i den kliniska fasen. Övriga sjukdomar som behandlas är non-hodgkins lymfom (NHL). Bolaget grundades under 2009 och har sitt huvudkontor i Oslo, Norge.
2019-05-23 07:00:19
Oslo, Norway, 23 May 2019

Nordic Nanovector ASA (OSE: NANO) announces its results for the first quarter
2019. A presentation by the company's senior management team will take place
today in Oslo at 08:30 CEST, see details below.

Eduardo Bravo, CEO, commented:

"As we advance the clinical development programmes with Betalutin®, including
PARADIGME, we are also beginning to initiate some of the other pre
-commercialisation activities, such as manufacturing, that are crucial to ensure
that we can submit our regulatory filing in a timely and efficient manner. The
recent fundraising is key to this and we expect to intensify these activities as
we get closer to the initial data read-out from PARADIGME."

Q1'19 Highlights

  · Approximately NOK 225 million (USD 26.4m) (gross) raised in a private
placement and subsequent repair offering to support manufacturing and other
activities in preparation for the commercialisation of Betalutin®.

  · Pivotal Phase 2b PARADIGME trial of Betalutin® in advanced recurrent
follicular lymphoma (FL) progressing with 74 (of 80-85) sites in 23 countries
open for enrolment, as of 22 May 2019.

  · Jan H. Egberts, M.D. elected new Chairman of the Board of Directors.

  · Dr Mark Wright appointed as Head of Manufacturing to lead production of
Betalutin® for clinical trials and future commercialisation, and of CD37
-targeting candidates emerging from the company's pipeline.

Events after Q1'19

  · Phase 1b Archer-1 trial of Betalutin® plus rituximab (RTX) in patients with
relapsed/refractory 2L FL advanced into second safety cohort.

  · Phase 1 LYMRIT 37-05 trial of Betalutin® in relapsed/refractory diffuse
large B-cell lymphoma (DLBCL) advanced to the final dosing cohort - preliminary
results from the dose-escalation expected in 2H 2019.

  · Promising preclinical results from R&D collaboration to develop a novel CD37
-targeting alpha therapy for B-cell tumours were presented at the 11th
International Symposium on Targeted-Alpha-Therapy.

  · Fredrik Haavind appointed Head of Legal and Compliance bringing significant
experience in domestic and international corporate law.

Financial Highlights Q1'19

(Figures in brackets = same period 2018 unless otherwise stated)

  · Revenues for the first quarter amounted to NOK 0.0 million (NOK 0.0
million).

  · Total operating expenses for the first quarter were NOK 90.0 million (NOK
82.3 million).

  · Comprehensive loss for the first quarter amounted to NOK 91.6 million (loss
of NOK 90.7 million).

  · Cash and cash equivalents amounted to NOK 538.5 million as at 31 March 2019
(NOK 440.1 million as 31 December 2018).

Outlook

Nordic Nanovector aspires to become a leader in the field of targeted therapies
for haematological cancers by developing, manufacturing and commercialising
innovative therapies to address major unmet medical needs and advance cancer
care.

Betalutin®, the company's most advanced product candidate, has a highly
differentiated, competitive, clinical profile for recurrent FL, based on the
promising results from the LYMRIT 37-01 Phase 1/2 clinical study. The company's
pivotal Phase 2b PARADIGME trial with a once-only administration of Betalutin®
in 3L R/R FL is underway with the initial clinical data read-out targeted for 1H
2020 and subsequent filing in 2020 for marketing approval.

Current cash resources are expected to be sufficient to reach data read-out from
PARADIGME in the first half of 2020.

Nordic Nanovector intends to maximize the value of Betalutin® across the major
types of NHL (FL and DLBCL) and in earlier treatment lines in combination with
standard treatments. The company is also evaluating opportunities with other
CD37-targeting radioimmunotherapies and antibody drug conjugates across NHL and
other haematological cancer indications.

The company is confident that Betalutin® could become an attractive and
convenient therapeutic option, which, based on detailed market research, has the
potential to be commercially successful.

Presentation and Webcast

A presentation by Nordic Nanovector's senior management team will take place at
8:30am CEST at:

Thon Hotel Vika Atrium, Munkedamsveien 45, 0250 Oslo

Meeting Room: NYLAND

The presentation will be recorded as a webcast and will be available at
www.nordicnanovector.com in the section: Investors & Media

The results report and the presentation will be available at
www.nordicnanovector.com in the section: Investors & Media/Reports and
Presentation/Interim Reports/2019 from 7:00am CEST the same day.

For further information, please contact:

IR enquiries

Malene Brondberg, VP Investor Relations and Corporate Communications

Cell: +44 7561 431 762

Email: ir@nordicnanovector.com

Media Enquiries

Mark Swallow/David Dible (Citigate Dewe Rogerson)

Tel: +44 207 638 9571

Email: nordicnanovector@citigatedewerogerson.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 radioimmunotherapy 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 29 billion by
2026. Nordic Nanovector intends to retain marketing rights and to actively
participate in the commercialisation of Betalutin® in core markets. Further
information can be found at www.nordicnanovector.com.

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