OSLO, Norway & SOLNA, Sweden--(BUSINESS WIRE)--Nordic Nanovector ASA and Affibody AB today announced that the companies have entered into a three-year collaborative research agreement to discover and develop new advanced radio-immunotherapies (RIT) for multiple myeloma.
Backed by a Eurostars grant the project will combine Affibody's proprietary platforms with Nordic Nanovector's radioimmunotherapy technology. The project aims to provide documentation necessary to start GMP manufacturing of the Affibody®-based RIT and subsequently start clinical trials. The companies have been awarded approximately €1m in total by Vinnova in Sweden and The Norwegian Research Council in Norway.
Upon a successful conclusion of the collaboration Nordic Nanovector will have the opportunity to license the global rights to the Affibody®- based RIT. The development of an Affibody®-based RIT treatment represents a distinct work stream to be carried out in parallel with Nordic Nanovector's lead product candidate Betalutin™ for non-Hodgkin Lymphoma treatment.
Luigi Costa, Nordic Nanovector CEO commented, "The collaboration with Affibody will allow Nordic Nanovector to expand its product pipeline, while at the same time retaining full focus on the clinical development and commercialization of our lead product candidate, Betalutin™. This collaboration serves as an example of how the company intends to leverage its proprietary targeting technology to treat other hematological cancers in need of novel therapeutic approaches."
David Bejker, Affibody CEO commented, "We are delighted to enter into this agreement with Nordic Nanovector and see RIT's as an area with great potential and a logical continuation of some of our research. The Eurostars platform offers an excellent way for two companies with complementary technologies to collaborate and bring novel therapeutics to market and for Affibody, this comes on top of a year of increased uptake for our platform."
About Nordic Nanovector
Nordic Nanovector ASA is a privately held company established in 2009. The company is developing innovative radioimmunotherapeutics to treat non-Hodgkin Lymphoma (NHL) and other difficult to treat cancers. Nordic Nanovector intends to commercialize its product candidates through strategic alliances and partnerships with experienced oncology businesses and by establishing its own sales and marketing capabilities in selected markets. The company is based and has offices and laboratories in Oslo, Norway.
The company's lead product candidate, Betalutin™, is a radioimmunotherapeutic that aims to prolong and improve the quality of life of people who suffer from NHL.
Further information can be found at: www.nordicnanovector.com.
Affibody is a Swedish biotech company focused on developing next generation biopharmaceuticals based on its unique proprietary technology platforms: Affibody® molecules and Albumod™. Affibody is developing a portfolio of innovative drug projects and, in addition, offers the half-life extension technology, Albumod™, for outlicensing.
Affibody has ongoing commercial relationships with several companies including Algeta, Amylin, Sobi, Daiichi-Sankyo, Daewoong, GE, and Thermo Fisher. Affibody was founded in 1998 by researchers from the Royal Institute of Technology and the Karolinska Institute and is based in Stockholm, Sweden. Major shareholders in the Company include HealthCap and Investor AB.
Further information can be found at: www.affibody.com.
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