BRIEF—Nordic Nanovector raises $26 million to develop Betalutin

Hematological cancer specialist Nordic Nanovector has raised approximately 222 million Norwegian kroner ($26 million) through a private placement of almost 5 million new shares, at a price of 45 Norwegian kroner per share.

The firm says it will use the money for manufacturing development activities for the antibody Betalutin (177Lu-lilotomab satetraxetan) and scaling up clinical and commercial activities ahead of a possible launch.

In June 2018, Nordic secured fast-track status from the US Food and Drug Administration (FDA) for Betalutin as a treatment for follicular lymphoma, a kind of non-Hodgkin's lymphoma.