Nordic Nanovector Appoints Experienced Pharmaceutical Company Leader Peter L. Braun as Chief Executive Officer

OSLO, Norway, March 17, 2021 /PRNewswire/ -- Nordic Nanovector ASA (OSE: NANOV) announces the appointment of Peter L. Braun as Chief Executive Officer (CEO). He will take up the position on 6 April 2021 and will be based in the company's office in Zug, Switzerland.

Mr Braun is an experienced and entrepreneurial pharmaceutical leader, with extensive commercialisation experience with innovative oncology products and deep knowledge of pharmaceutical markets worldwide from a career spanning nearly 30 years at Hoffmann-La-Roche ("Roche").

During his career at Roche, Mr Braun led the Lifecycle Management teams for the successful targeted cancer therapies Herceptin® (trastuzumab) and Tarceva® (erlotinib).

Mr Braun has also held various operational leadership positions including being country general manager and multiple commercial roles in Europe, US and Latin America. He has developed expertise across multiple strategic and operational roles including development, manufacturing, business development and market access for innovative therapeutic products in several geographies and other therapeutic areas, including rare diseases and infectious diseases.

In addition to his experience at Roche, Mr Braun has also held roles at an artificial intelligence (AI)-driven life sciences start-up and as strategy consultant to emerging healthcare companies.

Jan H. Egberts, Chairman of Nordic Nanovector's Board of Directors, said: "I am delighted that Peter has agreed to join us at this important time for Nordic Nanovector. Our aim was to leverage on our important recent progress by recruiting a strong commercial CEO who can refine and drive the company's plans towards the regulatory filing and commercialisation of Betalutin®. We are confident that, with Peter's track record in and enthusiasm for the development and commercialisation of innovative targeted oncology products, we can build on the top-line data from the PARADIGME trial expected later in the year by clearly defining our plans for Betalutin®'s commercialisation. These are key steps on our path to becoming a leader in targeted radiopharmaceuticals."

"I would like to take this opportunity to thank Lars Nieba for his leadership of the company during the last 12 months as Interim CEO. His dedication and efforts have contributed to the considerable progress Nordic Nanovector has made in this time."

Mr Braun added: "I am looking forward to this exciting new role as the CEO of Nordic Nanovector. It is clear that targeted cancer therapeutics represent an important treatment modality and well tolerated, targeted radiopharmaceuticals, such as Betalutin®, can make a real difference to patients. I look forward to working closely with the Board and the leadership team to bring this innovative drug to NHL patients worldwide."

When joining Nordic Nanovector, Mr Braun will be granted 350,000 PSUs (performance share units) as part of the company's annual grant of PSUs in the first quarter of 2021.

For further information about the PSUs and the related warrants, see page 28 in the company's annual report for 2019.

For further information, please contact:                            

IR enquiries

Malene Brondberg, CFO
Cell: +44 7561 431 762
Email: [email protected]

Media Enquiries

Mark Swallow/Frazer Hall/David Dible (Citigate Dewe Rogerson)
Tel: +44 203 926 8535
Email: [email protected]

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 26 billion by 2028. 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.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Malene Brondberg, Chief Financial Officer at Nordic Nanovector ASA, on 17 March 2021 at 2355 CET.

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SOURCE Nordic Nanovector