On November 10, 2022 Nordic Nanovector ASA (OSE: NANOV) ("Nordic Nanovector" or the "Company") and all shareholders of APIM Therapeutics ("APIM"), a privately held, clinical-stage cancer-focused biotechnology company, reported that they have entered into a definitive merger agreement to combine the companies in an all-stock transaction (the "Agreement") (Press release, Nordic Nanovector, NOV 10, 2022, View Source [SID1234623588]). Subject to completion of the Agreement, Nordic Nanovector will purchase shares in APIM, and become the parent entity of APIM (the "Transaction").

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The Agreement follows the review that Nordic Nanovector conducted, in conjunction with Carnegie Investment Bank, to optimise shareholder value following its decision to discontinue the PARADIGME study for Nordic Nanovector’s lead asset Betalutin.