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2017-02-02

Nordic Nanovector: Nordic Nanovector: Share options granted, including options to primary insiders

Date: 02.02.2017        Press Release no: 3/2017

Oslo, Norway, 2 February 2017

The Board of Directors of Nordic Nanovector ASA ("Nordic Nanovector"
or the "Company") has on 1th of February 2017 decided to grant
719,500 share options to employees in accordance with the proxy given
by the Annual General Meeting held on 19 May 2016. Each option, when
exercised, will give the right to acquire one share in Nordic
Nanovector. The options are granted without consideration.

The options will expire after 7 years. The vesting schedule means that
25% of each option holder's options will vest 12 months after the day
of grant as long as the option holder is still employed. Thereafter,
1/36 of the remaining options will vest each month as long as the
option holder is still employed, with the first 1/36 vesting 13
months after the day of grant. The exercise price of the options is
NOK 90.37. The exercise price is equal to the volume weighted average
trading price of the shares of the Company quoted on the Oslo Børs
the last five days prior to the date of the grant.

Primary insiders that were granted options have the following holdings
of options and shares in the Company after the new share options were
granted on 1th of February 2017 (new options in parenthesis):

Luigi Costa, CEO holds 1,338,106 options (250,000) and owns 79,115
shares

Tone Kvåle, CFO holds 315,000 options (105,000) and owns 179,608
shares including shares to related party

Marco Renoldi, COO holds 464,137 options (96,000) and owns 74,000
shares

Anniken Hagen, CTOO holds 177,000 options (35,000) and owns 63,858
shares

Lisa Rojkjaer, CMO holds 375,000 options (35,000) and owns 2,186
shares

Rita Dege, CHRO holds 67,000 options (35,000) and owns 4,754 shares

Jostein Dahle, CSO holds 150,000 options (15,000) and owns 204,958
shares including shares to related party

The options allocated to the management of the Company is in
accordance with the Board of Director's Declaration on salaries and
other remuneration to the senior executive management, as approved by
the Company's annual general meeting held 19 May 2016. The total
number of outstanding share options is now 3,509,676 equivalent to
6.7 % of outstanding shares and options on a fully diluted basis.

For further information, please contact:

Tone Kvåle, Chief Financial Officer
Phone: +47 91 51 95 76
E-mail: tkvale@nordicnanovector.com

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, lilotomab
(previously referred to as 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

This information is subject to duty of disclosure pursuant to Section
5-12 and 4-2 of the Norwegian Securities Trading Act.

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