Nordic Nanovector ASA Announces Proposed Board Changes – Former Algeta CEO Thomas Ramdahl nominated to Join Board of Directors

Oslo, Norway, 6 April 2022

Nordic Nanovector ASA (OSE: NANOV) announces that its Nomination Committee has nominated Dr Thomas Ramdahl for election as a Non-executive Director at the Company's Annual General Meeting (AGM) on 28 April 2022.

Dr Ramdahl is a pharmaceutical executive with more than 20 years of clinical and development experience. In 2001, he became President and first CEO of Algeta ASA, a Norwegian biotech company that successfully developed and launched a radiopharmaceutical for prostate cancer.

During his time at Algeta, the company successfully completed Phase 1 and 2 clinical trials, as well as a pivotal Phase 3 multicentre, multi-country, double blinded clinical trial that led to FDA approval and marketing approval of Algeta's lead product, Xofigo®.

In addition to playing a key role in Algeta’s 2007 IPO and in multiple fundraisings, he was instrumental in the acquisition of the company by Bayer AG for USD 2.9 billion in 2014. After the acquisition by Bayer, Dr Ramdahl held the position of Managing Director of Bayer in Norway, remaining in this role until October 2018.

Dr Ramdahl is currently Chairman at Precririx and a Board Director at Clarity Pharmaceuticals, both in the targeted radiopharmaceutical area, and Chairman at medical device company Appsens. He has authored more than 40 publications and is a co-inventor of several patents. He gained his PhD in environmental chemistry from the University of Oslo in 1984 and an MSc in organic chemistry from the Norwegian Institute of Technology in 1979.

Dr Ramdahl is a Norwegian citizen and resides in Norway.

The company also notes that Per Samuelsson and Rainer Boehm M.D., who have served as Non-executive Directors on the Board of Nordic Nanovector since November 2014 and May 2018, respectively, have, due to increased workload and other responsibilities and priorities, decided not to stand for re-election at the upcoming AGM.

Dr Thomas Ramdahl, commented: “Nordic Nanovector is entering an exciting and important phase of its development, and I hope that the experience I gained with Algeta and in other roles will help the company achieve its ambitions for Betalutin® and its broader pipeline of novel CD37-targeted therapeutic candidates.”

Jan H. Egberts, M.D., Chairman of Nordic Nanovector's Board of Directors, said: “We are delighted to have Dr Ramdahl join our Board. Thomas has proven experience of managing and growing a radiopharmaceutical company from start-up through to marketing approval of its lead product. This expertise and experience will be invaluable to Nordic Nanovector as it advances Betalutin® though the final stages of PARADIGME and prepares for regulatory filing and commercialisation. I would also like to express my sincere gratitude to Per Samuelsson and Rainer Boehm, who have made important contributions to Nordic Nanovector during their time on the Board.”

Per Samuelsson, added: “I have thoroughly enjoyed my time on the board of Nordic Nanovector. The company has come far since I first joined the board in 2014 and is now on the verge of completing PARADIGME and delivering the preliminary three-month data read out in H2’2022. It is very encouraging to see the company’s strong focus on this important initial indication for Betalutin® while also looking beyond Betalutin® to other opportunities where its expertise around the B-cell target CD37 could be applied. While HealthCap remains a highly supportive investor in Nordic Nanovector, I believe it is time for me to step down from the Board and I am delighted that Dr Thomas Ramdahl has accepted to be nominated to join as a Director. I know Thomas well from his time with Algeta and I am confident that he will be an important contributor to Nordic Nanovector’s future development.”