Oslo, Norway, 3 November 2022

Nordic Nanovector ASA (OSE: NANOV) ("Nordic Nanovector" or the "Company") announces the progress it has made in designing and developing a portfolio of novel and potent humanized anti-CD37 monoclonal antibodies with potential for treating B-cell malignancies or B-cell-driven autoimmune disorders.

Details of the Company's progress in engineering this portfolio are included in two abstracts published today for presentation as posters at the 64[th] American Society of Hematology (ASH) Annual Meeting & Exposition (10-13 December 2022 in New Orleans, LA, USA). The abstracts will also be published online in a November supplemental issue of Blood, published by The American Society of Hematology.

The abstracts describe how, through antibody engineering, Nordic Nanovector has developed several humanized anti-CD37 monoclonal antibodies and demonstrated in preclinical studies their enhanced effector mechanisms, such as antibody-dependent cellular cytotoxicity (ADCC), antibody-dependent cellular phagocytosis (ADCP) and longer half-life in the blood.

CD37 is a protein abundant on the surface of B cells but absent in haematopoietic stem cells and plasma cells. Its expression pattern makes it attractive as a therapeutic target for B-cell malignancies, including non-Hodgkin lymphomas and chronic lymphocytic Leukemia and for B-cell-driven autoimmune disorders, especially where an alternative to standard anti-CD20 immunotherapy is sought.

Jostein Dahle, Co-founder and CSO of Nordic Nanovector, commented: "We are pleased to present at ASH the initial findings from our preclinical studies with our novel humanized anti-CD37 antibody portfolio. These antibodies have been designed to be highly selective for CD37 on B cells and shown to be potent at depleting these cells as well as enduring in the circulation. There is a significant unmet clinical need for new therapeutic approaches for patients with B-cell-driven diseases who do not respond to anti-CD20 therapies. The encouraging preclinical results we will present at ASH support the further development of these candidates for B-cell malignancies or B-cell-driven autoimmune disorders."

Details of the abstracts to be presented at ASH are as follows:

Abstract 1351

Abstract title:                 NNV024, a Humanized Anti-CD37 Antibody with Enhanced ADCC and Extended Plasma Half-Life for the Treatment of B-Cell Malignancies

Authors:                        R. Generalov et al.

Session Name:              605. Molecular Pharmacology and Drug Resistance: Lymphoid Neoplasms: Poster I

Date:                            Saturday, December 10

Presentation Time:        5:30 PM - 7:30 PM Eastern time

Location:                       Ernest N. Morial Convention Center, Hall D

Abstract 2679

Abstract title:                 B-Cell Targeting Anti-CD37 Humanized Antibodies Engineered for Potent Effector Functions and Extended Plasma Half-Life

Authors:                        E. Fiorito et al.

Session Name:              605. Molecular Pharmacology and Drug Resistance: Lymphoid Neoplasms: Poster II

Session Date:               Sunday, 11 December

Presentation Time:        6:00 PM - 8:00 PM Eastern time

Location:                      Ernest N. Morial Convention Center, Hall D

IR enquiries

Malene Brondberg, interim CEO & CFO
Cell: +44 7561 431 762
Email: ir@nordicnanovector.com

Media Enquiries

Frazer Hall / Mark Swallow (MEDiSTRAVA Consulting)
Tel: +44 203 928 6900
Email: nordicnanovector@medistrava.com

About Nordic Nanovector:

• Betalutin® and Humalutin®, both CD37-targeting radioimmunotherapies incorporating the beta emitter lutetium-177 to treat non-Hodgkin's lymphoma (NHL);
• Alpha37, a CD37-targeting radioimmunotherapy candidate incorporating the alpha-emitting radionuclide lead-212, currently being explored with partner Oranomed for chronic lymphocytic leukaemia;
• Multiple fully humanized anti-CD37 antibodies with potential in haematological cancers and autoimmune diseases; and
• A CD37 DOTA CAR-T cell opportunity in haematological cancers, which is being advanced via a research collaboration with the University of Pennsylvania.

Further information can be found at www.nordicnanovector.com (https://nam10.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.nordicnanovector.com%2F&data=05%7C01%7Cmark.swallow%40medistrava.com%7C6e166f0d8ab045baa74c08da813d9127%7C5c24475f929349d0b4e1ba6d190e92f9%7C0%7C0%7C637964398695667184%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=CtQu5sHd4a%2Bio0LyYmQHR0ptgoTKcIhc5hpqa4eLFZk%3D&reserved=0).

Forward-looking statements

This press release contains certain forward-looking statements relating to inter alia to the business and strategies, financial performance and results of the Company. Forward-looking statements concern future circumstances and results and other statements that are not historical facts. These statements are based on Nordic Nanovector's current expectations and are subject to uncertainty and changes in circumstances. Any forward-looking statements contained in this release, including assumptions, opinions and views of Nordic Nanovector or cited from third party sources, are subject to risks, uncertainties and other factors that may cause actual results and events to be materially different from those expected or implied by the forward-looking statements. Nordic Nanovector cannot provide any assurance that the assumptions underlying such forward-looking statements are free from errors nor accept any responsibility for the future accuracy of opinions expressed in this release or the actual occurrence of any forecasted developments. Nordic Nanovector disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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. 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 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.