Oslo Cancer Cluster member Nordic Nanovector announce that the company has closed its pre-IPO private placement of NOK 250 million – 100 million more than anticipated.
The private placement, which was directed towards existing shareholders as well as new institutional and professional investors, attracted strong investor interest and was increased from NOK 150 million to NOK 250 million on the basis of strong demand from solid institutional investors.
Further developing Betalutin™
The private placement was managed by ABG Sundal Collier and DNB Markets and was significantly oversubscribed. Nordic Nanovectors largest shareholder, HealthCap V. L.P. participated in the placement and was allocated 1,800,000 shares. Nordic Nanovector intends to use the net proceeds of the private placement to fund further clinical development of Betalutin™ for treatment of non-Hodgkin Lymphoma.
Norwegian paper DN published this article on the news, siting Roy Larsen: “This may be the new Algeta”.
About Nordic Nanovector AS
Nordic Nanovector AS is a privately held company established in 2009. The company is based in Norway and has offices and laboratories in Oslo. The company is developing novel innovative anticancer radioimmunotherapeutics to treat non-Hodgkin Lymphoma (NHL) and other hematological malignancies.
Read more on Nordic Nanovector`s web page.
Betalutin™, is a pharmaceutical product candidate consisting of a radionuclide conjugated to a tumor seeking carrier/antibody, which can be used for irradiation of malignant metastasized tumors with minimal damage to nearby healthy normal tissue. This technology aims to prolong and improve the quality of life of people who suffer from non-Hodgkin Lymphoma (NHL).