Nordic Nanovector and LegoChem collaborate on ADCs targeting leukemias

10 October 2016

Norwegian biotech firm Nordic Nanovector (OSE: NANO) revealed today that it has entered into a collaboration with South Korea’s LegoChem Biosciences (Kosdaq: 141080) to develop novel CD37-targeting antibody-drug conjugates (ADCs) for the treatment of leukemias.

Leukemias are orphan diseases with a significant unmet medical need, representing a growing market estimated to be worth over $5 billion by 2024, the company noted.

This collaboration supports Nordic Nanovector’s strategy to expand its pipeline of targeted therapies to include CD37-targeting antibody products conjugated to anti-cancer compounds that are not radionuclides, which are commonly referred to as antibody-drug conjugates or ADCs. No financial terms were disclosed. Nordic Nanovector shares gained 5.3% to 54.50 Norwegian kroner on the news this morning.

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