Nordic Nanovector ASA (OSE: NANO), a company focusing on the development
and commercialisation of novel targeted therapeutics in haematology and
oncology, announces that the Board of Directors of Nordic Nanovector ASA
("Nordic Nanovector" or the "Company") has decided to grant 510,000
share options in accordance with the proxy given by the Annual General
Meeting held on 9 March 2015. Each option, when exercised, can 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 14,24. The
exercise price is equal to the volume weighted average trading price of
the shares of the Company quoted on the Oslo Stock Exchange 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 3 March 2016 (new options in parenthesis):
Luigi Costa, CEO holds 1,088,106 options (220,000) and owns 73,186 shares
Jostein Dahle, CSO holds 155,000 options (30,000) and owns 254,958
shares including shares to related party
Anniken Hagen, CQO holds 155,333 options (30,000) and owns 48,771 shares
Tone Kvåle, CFO holds 240,000 options (35,000) and owns 139,854 shares
including shares to related party
Marco Renoldi, CBO holds 368,137 options (90,000) and owns 70,000 shares
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 9 March 2015. The total number of
outstanding share options is now 2,681,576, equivalent to 5.7% of
outstanding shares and options on a fully diluted basis.
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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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