The Board of Directors in Thor Medical ASA has today entered into an agreement for the transfer of former Nordic Nanovector’s pipeline of patented development stage candidates (“Nanovector Patents”) to the newly established company NucliThera AS.
Reference is made to the stock exchange release on 6 June 2023 and presentation on the company’s AGM in relation to the acquisition of Thor Medical AS, reflecting an agreement between all parties to explore opportunities to finance further development of the Nanovector Patents in a separate company.
Subject to the terms and conditions of the agreement, NucliThera AS will assume full ownership, title, and interest to the Nanovector Patents and lab facilities as Kjelsåsveien in Oslo, with Thor Medical retaining interest through an undisclosed profit-sharing agreement in the event of successful commercialization of the patents.
NucliThera AS is a company founded by Roy Larsen, Morten Lande, and Øyvind Bruland with an ownership share of 80%, 16%, and 4% respectively. The Board of Directors of NucliThera AS consists of Roy Larsen, Morten Lande, and Ludvik Sandnes. Sandnes hence withdrew from participating in the Board of Directors in Thor Medical’s decision due to conflict of interest.
Roy Larsen comments: We will attempt to license out and/or continue clinical trials development related to the Nanovector Patents, for the possibility to develop novel medicine for hematological cancer. The plan is to establish a small, but qualified team and search for international partnerships. I am pleased that Morten Lande has accepted to invest and act on the Board of Directors, he has been following our work at Algeta and Nordic Nanovector. I’m also glad Øyvind Bruland and Ludvik Sandnes will contribute in this project.
This information is required to be disclosed under Section 5-12 of the Securities Trading Act.