Second publication reports on CD37-targeting imaging approach to select NHL
patients who might respond best to Humalutin® treatment

Oslo, Norway, 3 May 2022

Nordic Nanovector ASA (OSE: NANOV), a clinical-stage biotech company focused on
CD37-targeted therapies for haematological cancers and immune diseases,
announces the publication of two new research papers highlighting approaches to
improve the potential therapeutic effect of its novel CD37-targeting
radioimmunoconjugate Humalutin® ([177]Lu-DOTA-NNV003) in B-cell malignancies,
such as Non-Hodgkin Lymphoma (NHL).

The first publication by the Company's scientists and its collaborators,
published in PLOS One (Ref. 1), reports on the combined effect of Humalutin®
with olaparib, a member of the class of anticancer therapies known as PARP
inhibitors, on NHL cell lines.

In the studies, the combination of Humalutin® and olaparib was found to be
synergistic or conditionally synergistic leading to cell death in 6 of 7 NHL
cell lines (diffuse large B cell lymphoma and mantle cell lymphoma). Where the
combination was conditionally synergistic (i.e. both synergistic and
antagonistic), the effect was dependent on the concentration of each drug,
showing the importance of optimising the parameters for further studies.

Humalutin® acts by inducing potentially cytotoxic DNA breaks in the NHL cells,
sensitising these cells to olaparib, which prevents the repair of DNA breaks by
blocking the activity of DNA repair enzymes poly (ADP ribose) polymerase 1 and 2
(PARP1 and PARP2). Olaparib is approved in the US and most markets globally for
BRCA mutated ovarian and breast cancer.

The authors concluded that further in vivo studies evaluating the anti-tumour
effect of the combination of radioimmunotherapies, including Humalutin®, and
PARP inhibition are warranted.

Separately, Nordic Nanovector reports the publication of a paper in the high
-impact open access journal Scientific Reports (Ref. 2) on the potential of a
non-invasive diagnostic imaging approach to select NHL patients who are more
likely to respond to or are at risk for developing CD37-induced haematological
toxicities from CD37-targeted radioimmunotherapy.

The imaging approach used a radioimmunoconjugate ([[89]Zr]Zr-N-sucDf-NNV003)
comprising the Company's proprietary anti-CD37 antibody NNV003 (a component of
Humalutin®), and zirconium-89, a radioisotope that is well-suited to commonly
used positron emission tomography (PET) imaging, to assess CD37-expression,
biodistribution and tumour-uptake levels in mice bearing human B cell lymphomas
and to predict the possible therapeutic effects of Humalutin® in NHL patients.

A good manufacturing practice (GMP)-compliant production process has also been
established to enable administration to patients in future studies.

Jostein Dahle, Nordic Nanovector's Chief Scientific Officer, said: "These two
publications add to the growing scientific evidence supporting CD37 as a
valuable tumour target both for therapeutic and diagnostic applications in NHL.
This evidence provides important validation of our pipeline approach, building
on the significant data we have collected from our preclinical and clinical
studies with Betalutin® and now expanding to our next-generation CD37-targeting
radioimmunoconjugate Humalutin®. We look forward to continuing to grow our
understanding around CD37 and the potential of our emerging pipeline."

References

1. Malenge, M.M. et al. Anti-CD37 radioimmunotherapy with [177]Lu-NNV003
synergizes with the PARP inhibitor olaparib in treatment of non-Hodgkin's
lymphoma in vitro. PLOS One (2022): 17(4): e0267543

2. Giesen, D. et al. [89]Zr-PET imaging to predict tumor uptake of [177]Lu
-NNV003 anti-CD37 radioimmunotherapy in mouse models of B cell lymphoma. Sci Rep
12, 6286 (2022). https://doi.org/10.1038/s41598-022-10139-6

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 (MEDiSTRAVA Consulting)
Tel: +44 203 928 6900
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. The Company aspires to become a
leader in the development of CD37-targeted therapies for haematological cancers
and immune diseases. 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.

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.