OSLO, Norway, Dec. 18, 2019 /PRNewswire/ -- Nordic Nanovector
ASA (OSE: NANO) announces that its research and development project
Nanoyield has received a non-dilutive funding of NOK 12 million (USD 1.3
million) from the Norwegian Research Council
(Forskningsrådet).
The Nanoyield project is aimed at optimising the production
yield of Nordic Nanovector's CD37-targeting antibody NNV003. The
NNV003 antibody is the antibody component of the
radioimmunoconjugate Alpha37. The project will be conducted in
partnership with SINTEF Biotechnology (Trondheim, Norway), one of Europe's largest independent research
institutes.
Nordic Nanovector recently received grant funding of
EUR 0.6 million from Eurostars, a
Europe-wide R&D funding
programme, to advance the Alpha37 programme.
Alpha37 comprises NNV003 with the alpha-particle generator
lead-212 (212Pb) and is being developed in an R&D
collaboration with Orano Med. Preclinical data presented at
international cancer congresses during the past 12 months have
shown that a single injection of Alpha37 is well-tolerated and
produces a promising anti-cancer effect and subsequent improvement
on survival in preclinical models of CD37-positive chronic
lymphocytic leukaemia (CLL) and non-Hodgkin's lymphoma (NHL).
Jostein Dahle, Chief Scientific
Officer of Nordic Nanovector, said: "We are excited to receive this
new non-dilutive grant funding from Forskningsrådet to advance the
Alpha37 programme. Alpha-emitting radionuclides have demonstrated
good potential for targeted cancer therapies because their high
energy is limited to a few cell widths resulting in localised
cytotoxicity while sparing surrounding healthy tissues. We have
seen very encouraging preclinical evidence demonstrating the
potential of Alpha37 to treat CLL and NHL and with our partners are
advancing this exciting candidate towards clinical trials in these
indications."
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.
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.
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