Nordic Nanovector ASA - Results for Fourth Quarter and Full Year 2016

OSLO, Norway, Feb 28, 2017 /PRNewswire/ --

Nordic Nanovector ASA (OSE: NANO) announces its results for the fourth quarter and full year 2016. A presentation of the results by the company's senior management team will take place today at 8:30 a.m. CET in Oslo - details below.

2016 was a very successful year for Nordic Nanovector. We achieved important milestones with regard to the clinical development of Betalutin®, progressed with our preclinical candidates and build the foundation of R&D innovation and expertise for the development of a pipeline of novel targeted therapies for major haematological cancers.

The successful completion of a NOK 499 million private placement in December was a key event that will enable the company to work towards its broader long-term ambition. With its strengthened financial position, Nordic Nanovector aims at maximizing the value of its novel targeted biopharmaceutical candidates (Betalutin®, alone and in combination with rituximab, and the chimeric anti-CD37 ARC) across all stages of follicular lymphoma (FL) and other major haematological cancer indications. The company intends to prepare for the commercialisation of Betalutin®, and to selectively extend its pipeline leveraging internal and external innovation and expertise in ARCs and ADCs.

The company's confidence in Betalutin® in 3rd line FL was confirmed during the fourth quarter 2016. On the basis of recommendations from the trial's Safety Review Committee, a new, higher dosing regimen is being tested in the Lymrit 37-01 trial. Patient recruitment into Arm 4 of the study is on track to enable the selection of an optimal dosing regimen for the pivotal Phase 2 PARADIGME trial, which is planned to start in the second half of 2017. Updated results from the trial presented at ASH 2016 in December continue to support the promising clinical profile of Betalutin® in 3rd line FL.

The synergistic anti-tumour effect of Betalutin® in combination with rituximab in a preclinical in vivo model of NHL, was also presented at ASH. These data support the company's decision to advance this combination into clinical development targeting 2nd line FL. Furthermore, preclinical development with the chimeric anti-CD37 ARC was completed successfully, and the company plans to start first clinical studies during 2017. The potential to access the combined FL market presents a significantly larger market opportunity for Nordic Nanovector's candidates than 3rd line FL alone.