BRIEF—Nordic Nanovector rises as shareholders vote down planned merger

Shares of Norway-based Nordic Nanovector were up 4.3% at 0.085 euros this morning, after the company revealed that its shareholders had voted against the planned reverse merger with privately-held clinical-stage cancer-focused biotech company APIM Therapeutics announced earlier this month.

Under the proposed terms that were agreed by both companies’ board of directors, Nordic Nanovector said the merger is structured as a purchase of APIM shares that values the Trondheim-based company at 439 million Norwegian kroner (around $42 million) plus cash on hand.