Nordic Nanovector awarded NOK 12 million in funding from the Norwegian Research Council to advance Alpha37, a targeted alpha therapy for B-cell cancers

On December 18, 2019 Nordic Nanovector ASA (OSE: NANO) reported that its research and development project Nanoyield has received a non-dilutive funding of NOK 12 million (USD 1.3 million) from the Norwegian Research Council (Forskningsrådet) (Press release, Nordic Nanovector, DEC 18, 2019, View Source [SID1234553441]).

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The Nanoyield project is aimed at optimising the production yield of Nordic Nanovector’s CD37-targeting antibody NNV003. The NNV003 antibody is the antibody component of the radioimmunoconjugate Alpha37. The project will be conducted in partnership with SINTEF Biotechnology (Trondheim, Norway), one of Europe’s largest independent research institutes.

Nordic Nanovector recently received grant funding of EUR 0.6 million from Eurostars, a Europe-wide R&D funding programme, to advance the Alpha37 programme.

Alpha37 comprises NNV003 with the alpha-particle generator lead-212 (212Pb) and is being developed in an R&D collaboration with Orano Med. Preclinical data presented at international cancer congresses during the past 12 months have shown that a single injection of Alpha37 is well-tolerated and produces a promising anti-cancer effect and subsequent improvement on survival in preclinical models of CD37-positive chronic lymphocytic leukaemia (CLL) and non-Hodgkin’s lymphoma (NHL).

Jostein Dahle, Chief Scientific Officer of Nordic Nanovector, said: "We are excited to receive this new non-dilutive grant funding from Forskningsrådet to advance the Alpha37 programme. Alpha-emitting radionuclides have demonstrated good potential for targeted cancer therapies because their high energy is limited to a few cell widths resulting in localised cytotoxicity while sparing surrounding healthy tissues. We have seen very encouraging preclinical evidence demonstrating the potential of Alpha37 to treat CLL and NHL and with our partners are advancing this exciting candidate towards clinical trials in these indications."