Nordic Nanovector Announces Changes to its Executive Management Team

OSLO, Norway, May 4, 2020 /PRNewswire/ -- Nordic Nanovector ASA (OSE: NANO) today announces changes to its Executive Management Team.

As a result of the cost-saving initiatives announced on 2 April 2020, the Board of Directors of Nordic Nanovector has restructured the senior management team. The restructuring has resulted in the number of executives being reduced from nine to seven.

Malene Brondberg, Vice President Investor Relations and Corporation Communications, has been appointed CFO, effective 1 May, reporting to Lars Nieba, interim CEO. Malene Brondberg will in her new role as CFO be responsible for the areas Finance, Human Resources and Investor Relations.

Tone Kvåle and Rita Dege leave from their respective roles as Chief Financial Officer and Chief Human Resources Officer as of 1 May 2020.

Ms. Brondberg joined Nordic Nanovector in February 2018 bringing over 20 years' operational experience in the financial services sector. Her career has included Global Head of Research managing a team of 67 people and member of the Executive Committee of the Nordic investment bank ABG Sundal Collier. Since 2011, Ms. Brondberg has worked as a management consultant within the financial sector, acting as an advisor in relation to investor relations and funding, and has held various interim CEO, COO and Head of Compliance/HR/Finance management positions.

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:

IR enquiries

Jan H. Egberts, Chairman of Nordic Nanovector

Tel: +31-614672518

Email: [email protected]

Media Enquiries

Mark Swallow/Frazer Hall/David Dible (Citigate Dewe Rogerson)

Tel: +44-203-926-8535

Email: [email protected]

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SOURCE Nordic Nanovector