Nordic Nanovector ASA: Increase of Share Capital

OSLO, Norway, May 7, 2020 /PRNewswire/ -- Three of the board members of Nordic Nanovector ASA (the "Company"), Gisela Schwab, Joanna Horobin and Jean-Pierre Bizzari have resolved to settle a total number of 9,761 RSUs. The RSU's were issued to them in May 2019 after they had elected to receive all or part of their remuneration for the period from the annual general meeting in 2019 to the annual general meeting in 2020 in RSUs. In addition, board member Hilde Steineger has resolved to settle a total number of 8,818 RSUs previously issued as remuneration under the RSU-program. Each RSU gives the right to subscribe for one share in the Company at a subscription price of NOK 0.20.

The Board of Directors of the Company has, to fulfil the Company's obligations under the RSU agreements, resolved to issue 18,579 new shares at a subscription price of NOK 0.20 per share giving a total subscription amount of NOK 3,715.80. The shares are issued pursuant to the authorisation granted to the Board of Directors at the annual general meeting held on 25 April 2019. Subsequent to the issuance of the new shares, the Company's share capital will be NOK 13,232,388.40 divided into 66,161,942 shares, each with a nominal value of NOK 0.20.

Gisela Schwab, Joanna Horobin and Jean-Pierre Bizzari have subscribed for 2,331 new shares, 4,953 new shares and 2,477 new shares respectively. The three board members will following issuance of the new shares, have the following holding of shares and RSUs in the Company:

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 antibody-radionuclide-conjugate 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 retains global marketing rights to Betalutin® and intends to actively participate in the commercialisation of Betalutin® in the US and other major 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.

For further information, please contact: 
Malene Brondberg, CFO
Cell: +44-7561-431-762
Email: ir@nordicnanovector.com

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SOURCE Nordic Nanovector