Oslo, Norway, 10 October 2016
Nordic Nanovector ASA (OSE: NANO), is pleased to announce it has entered into a collaboration with LegoChem Biosciences, Inc. (“LegoChem”; KOSDAQ: 141080), a South Korea-based biopharmaceutical company, to develop novel CD37-targeting antibody-drug conjugates (ADCs) for the treatment of leukaemias. Leukemias are orphan diseases with a significant unmet medical need, representing a growing market estimated to be worth over USD 5 billion by 2024.
This collaboration supports Nordic Nanovector’s strategy to expand its pipeline of targeted therapies to include CD37-targeting antibody products conjugated to anti-cancer compounds that are not radionuclides. Such conjugates are commonly referred to as antibody-drug conjugates or ADCs.
Jostein Dahle, Nordic Nanovector’s Chief Scientific Officer, commented: “We are delighted to expand our R&D activities into the ADC area, a strategic and natural progression for us given our expertise in antibodies and the prevalence of the CD37 antigen on many tumour cell types. We believe that anti-CD37 ADCs will have clinical characteristics that are beneficial for treating a range of haematological malignancies. Our strategy to build a pipeline of innovative antibody-radionuclide conjugates (ARCs) and ADCs based on our expertise and platform, and in collaboration with expert partners such as LegoChem, is aimed at creating multiple new product opportunities bringing new targeted treatments to patients.”
“We are very excited to enter into this collaboration agreement to develop CD37-targeting ADCs with Nordic Nanovector, which has expertise with anti-CD37 antibodies and experience of advancing candidates into clinical research,” said Jeiwook Chae, Chief Business Development Officer of LegoChem. “We strongly believe that our proprietary conjugation platform addresses significant unmet needs of current ADC technologies. With Nordic Nanovector’s deep expertise in antibodies and commitment to develop novel therapeutics, we are confident that we will further enrich the pipeline of next-generation ADCs and achieve our goals of advancing the landscape of cancer treatment and providing new clinical options for cancer patients.”
For further information, please contact:
For Nordic Nanovector
IR enquiries:
Luigi Costa, Chief Executive Officer
Cell: +41 79 124 8601
Tone Kvåle, Chief Financial Officer
Cell: +47 91 51 95 76
Email: ir@nordicnanovector.com
Media enquiries:
Mark Swallow/David Dible (Citigate Dewe Rogerson)
Tel: +44 207 282 2948/+44 207 282 2949
Email: nordicnanovector@citigatedr.co.uk
For LegoChem Biosciences
BD enquiries
Jeiwook Chae, Chief Business Development Officer
Tel: +82 42 861 0688
Email: bd@legochembio.com
IR enquiries
Wooshik Kim, Investor Relations Manager
Tel: +82 70 4811 3260
Email: ir@legochembio.com
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, lilotomab (previously referred to as 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
This information is subject to the disclose requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About LegoChem Biosciences, Inc.
LegoChem Biosciences is a biopharmaceutical company focusing on the development of next generation cancer therapeutics utilizing its proprietary ADC platform technology ‘ConjuAll™’.
ConjuAll™ is a 2nd generation ADC platform technology utilizing novel linker chemistry combined with site-specific enzymatic conjugation. Our platform provides solutions for Site-specific conjugation, Linker stability and Efficient payload release, which are three major unmet needs in ADC development.
LegoChem has been successfully building ADC pipelines through rigorous partnership activities. In August 2015, LegoChem Biosciences signed a license and commercialization agreement with Fosun Pharma regarding Her2 targeting ADC for the Greater China market and in 2012, LegoChem licensed out its ADC platform technology to Green Cross, one of the leading biopharmaceutical companies in Korea for a Mesothelin-targeted ADC.
