Nordic Nanovector ASA (OSE: NANO) is pleased to announce the award of a
up to NOK 15 million grant from the Research Council of Norway’s
User-driven Research-based Innovation programme (in Norwegian;
Brukerstyrt innovasjonsarena, BIA) to support the research and
development of novel targeted therapeutics for leukemia and non-Hodgkin
Lymphoma. The award is based on the promising potential for value
creation, both for patients and the society at large, as well as for
Nordic Nanovector together with the high quality of research and
innovation and the company’s international ambitions.
Nordic Nanovector’s Chief Scientific Officer, Jostein Dahle, commented:
“This grant funding is important as it enables us to advance early stage
research that leverages our expertise in ARC therapies, particularly
around CD37-targeted approaches, as a means of developing a broader
portfolio of products behind Betalutin® for treating malignant
leukaemias and lymphomas.”
The grant will be paid over a three-year period. It is assigned to and
will enable acceleration of the early stage project entitled
“Development of Two New Antibody Radionuclide Conjugates (ARCs) for
Treatment of Malignant Lymphoma and Leukemia”. The project is focused on
development of ARCs consisting of a chimeric anti-CD37 antibody (chHH1)
and a radioactive nuclide as the cytotoxic agent. chHH1 is a humanized
version of the murine HH1 antibody, the tumour-targeting component of
Nordic Nanovector’s lead candidate Betalutin®, which is currently
advancing in a Phase 1/2a clinical trial for the treatment of third line
and second line NHL.
Nordic Nanovector will construct and investigate ARCs with different
payloads. These combinations have the potential to lead to product
candidates with a range of drug profiles that may be applicable across
multiple haematological malignancies. Successful candidates are expected
to be advanced into clinical trials.
Established in 2006, the BIA programme is the largest industry-oriented
programme at the Research Council of Norway (Forskningsrådet). This
broad-based programme supports high-quality R&D projects with good
business and socio-economic potential.
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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
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