Nordic Nanovector ASA

Results for the First Quarter 2022

OSLO, Norway, May 13, 2022 /PRNewswire/ -- Nordic Nanovector ASA (OSE: NANOV) announces its results for the first quarter 2022. A presentation by Nordic Nanovector's senior management team will be held in-person today in Oslo and webcast live beginning at 8:30am CET - details below.

Erik Skullerud, CEO of Nordic Nanovector, said: "The impacts from COVID-19 continued to linger during Q1 and meant the pick-up in recruitment into PARADIGME that we expected has not yet materialised. Nonetheless, we remain highly committed to completing patient recruitment for this important trial and expect to meet our timeline for readout of preliminary data in H2'2022. At the same time, our preparations for filing and commercialisation of Betalutin are moving forward in advance of our planned BLA filing. New data presented or published in recent months continue to build and support the breadth and depth of our CD-37 focussed pipeline, from which, together with Betalutin, we believe we can create significant value for shareholders over the longer term."

Operational Highlights

• 108 of a targeted 120 patients have been enrolled into the pivotal PARADIGME Phase 2b trial for Betalutin as of 12 May 2022 (106 patients enrolled as of 28 February 2022)  
• COVID-19 continued to impact recruitment during Q1
• Two further patients enrolled
• Preliminary three-month data readout expected during H2'2022, following timeline revision announced 7 January 2022
• Private placement in January 2022 raised NOK 250 million gross (USD 28.4 million)
• Preclinical data on Alpha37, a novel CD37-targeting alpha-particle emitting radioimmunotherapy, presented at the American Association for Cancer Research (AACR) 2022 Annual Meeting 
• Showing single dose is safe and effective for treatment of CD37-positive chronic lymphocytic leukaemia (CLL) and non-Hodgkin's lymphoma (NHL) in mouse models

Post-period events

• Two new publications highlight approaches to improve the potential therapeutic effect of CD37-targeted radioimmunoconjugate Humalutin in B-cell malignancies, such as NHL
• New publication in PLOS One highlights synergistic potential of Humalutin in combination with the PARP-inhibitor olaparib, an approved treatment for breast and ovarian cancer
• New publication in Scientific Reports reports on CD37-targeting imaging approach to select NHL patients who might respond best to Humalutin treatment
• Board changes
• Former Algeta CEO Thomas Ramdahl joins Board of Directors
• Per Samuelsson and Rainer Boehm M.D. decide not to stand for re-election as Non-executive Directors  

Financial Highlights