Nordic Nanovector announces deal to merge with Thor Medical

Shares of Nordic Nanovector (OSE: NANOV) quadruple on high volumes in four days before profit taking took over, after it announced a definitive share exchange agreement to combine with Thor Medical, a fellow Norway-based privately held company focused on the production of alpha-emitting radionuclides for cancer treatment, in an all-share transaction.

The agreed exchange ratio in the Transaction is on a 50-50 basis. Following completion of the transaction, Nordic Nanovector will own at least 98% of the outstanding shares in Thor Medical. Assuming that Nordic Nanovector acquires all of the shares in Thor Medical in the transaction, then the former shareholders of Thor Medical will own 50% of the post-transaction combined entity and existing Nordic Nanovector shareholders will own 50%.

Follows failed deal with APIM Therapeutics