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2016-05-09

Nordic Nanovector: Nordic Nanovector announces an open Investigational New Drug application for new clinical study of Betalutin® in diffuse large B-cell lympho

Date: 09.05.2016        Press Release no: 22/2016

Clinical development programme expected to start in 2H 2016

Oslo, Norway, 9 May 2016

Nordic Nanovector ASA (OSE: NANO), a biotechnology company focusing on
the development of novel targeted therapeutics in haematology and
oncology, announces that its Investigational New Drug (IND)
application for a new Phase 1 clinical study of Betalutin® in a
second non-Hodgkin lymphoma (NHL) indication is now open with the US
Food & Drug Administration (FDA).

The Company plans to investigate Betalutin® in relapsed diffuse large
B-cell lymphoma (DLBCL) patients who are ineligible for stem cell
transplant. This represents the most prevalent relapsed DLBCL patient
population and the one with the greatest unmet medical need.

The Phase 1 dose-finding study (Lymrit 37-05) has a classical 3+3
dose-escalation design and is expected to enrol up to 24 patients in
the US and Europe. The study is designed to identify an optimal dose
regimen of Betalutin® in patients pre-dosed with unconjugated "cold"
HH1 anti-CD37 antibody to take into Phase 2.

In approving the IND, FDA requested that an additional 3+3 cohort be
included at the start of the study to investigate a regimen involving
an intermediate pre-dose of cold HH1 prior to Betalutin® injection in
the DLBCL population.

The study protocol without the latest adjustments made to meet FDA's
requests has already been approved by the appropriate EU regulatory
authorities, via the Voluntary Harmonisation Procedure.

Nordic Nanovector intends to adopt the FDA requested amendment also in
Europe and plans to initiate the application process for the amended
design with the relevant EU regulators as soon as possible. Pending
approval of the amended design, the Company now expects the first
DLBCL patient to be enrolled and treated in 2H 2016 compared to 1H
2016 as previously communicated.

Luigi Costa, Nordic Nanovector CEO, commented: "We are encouraged by
FDA's response to our IND, and intend to make the recommended
amendment that will allow us to conduct our first study in DLBCL
patients in both the US and Europe. We will work with EU regulators
to expedite approval of the revised study design in Europe so that we
can prepare and start patient recruitment in the second half of 2016.
This is an important further step forward in the development of
Betalutin®, data for which continue to highlight its potential to
become a relevant new treatment of B-cell malignancies."

About DLBCL

DLBCL is an aggressive form of NHL that accounts for 36-43% of all NHL
cases, making it the most common form of the disease (ref.1). It
occurs most frequently in a population aged >50 years (average age 62
years). Immediate combination chemotherapy treatment is essential and
the tumour is potentially curable.

The value of the DLBCL market (across all lines of therapy) in the
seven major markets (US, EU-5 and Japan), exceeds USD 1.8 billion
(mostly driven by sales of rituximab and chemotherapy drugs). The
market is estimated to grow to USD 4.7 billion by 2024 as a result
of novel immuno-oncology treatments and combination approaches in
development in the relapsed setting (ref. 1).

Approximately 40% of DLBCL patients relapse following treatment with
rituximab-chemotherapy (R-CHOP) in first line. In the seven key
markets this equates to 21,200 patients. Only 30-40% of relapsed
patients respond with subsequent high-dose chemotherapy followed by
stem cell transplant (SCT) (ref. 2). Patients ineligible for SCT
(12,720-14,840) have a very short life expectancy as available
therapeutic options are limited and ineffective. This is one of the
highest unmet medical need in Non-Hodgkin's Lymphoma.

References

1. Non-Hodgkin's Lymphoma (2015) Decision Resources

2. L.S. Raut and P. P. Chakrabarti: Management of relapsed-refractory
diffuse large B cell lymphoma (2014) South Asian J. Cancer 3(1):
66-70

For further information, please contact:

IR enquiries:

Luigi Costa, Chief Executive Officer

Cell: +41 79 124 8601

Tone Kvåle, Chief Financial Officer

Cell: +47 91 51 95 76

Email: ir@nordicnanovector.com

Media enquiries:

Mark Swallow/David Dible (Citigate Dewe Rogerson)

Tel: +44 207 282 2948/+44 207 282 2949

Email: nordicnanovector@citigatedr.co.uk

About Nordic Nanovector

Nordic Nanovector is a biotech company focusing on the development and
commercialisation of novel targeted therapeutics in haematology and
oncology. The Company's lead clinical-stage product opportunity is
Betalutin®, the first in a new class of
Antibody-Radionuclide-Conjugates (ARC) designed to improve upon and
complement current options for the treatment of non-Hodgkin Lymphoma
(NHL). NHL is an indication with substantial unmet medical need and
orphan drug opportunities, representing a growing market worth over
$12 billion by 2018.

Betalutin® comprises a tumour-seeking anti-CD37 antibody (HH1)
conjugated to a low intensity radionuclide (lutetium-177). The
preliminary data has shown promising efficacy and safety profile in
an ongoing Phase 1/2 study in a difficult-to-treat NHL patient
population. The Company is aiming at developing Betalutin® for the
treatment of major types of NHL with first regulatory submission
anticipated in 1H 2019.

Nordic Nanovector intends to retain marketing rights and to actively
participate in the commercialisation of Betalutin® in core markets,
while exploring potential distribution agreements in selected
geographies. The Company is committed to developing its ARC pipeline
to treat multiple selected cancer indications.

Further information about the Company can be found at
www.nordicnanovector.com

Forward-looking statements

This announcement may contain certain forward-looking statements and
forecasts based on uncertainty, 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", "will", "would" or, in each case, their negative, or
other variations or comparable terminology are used to identify
forward-looking statement. There are a number of factors that could
cause actual results and developments to differ materially from those
expressed or implied in a forward-looking statement or affect the
extent to which a particular projection is realised. Factors that
could cause these differences include, but are not limited to,
implementation of Nordic Nanovector's strategy and its ability to
further grow, risks associated with the development and/or approval
of Nordic Nanovector's products candidates, ongoing clinical trials
and expected trial results, the ability to commercialise Betalutin®,
technology changes and new products in Nordic Nanovector's potential
market and industry, 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
Section 5-12 of the Securities Trading Act.

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