May 20, 2014
Nordic Nanovector is pleased to announce today that the company’s lead product candidate Betalutin™ has been granted orphan-drug designation for treatment of follicular lymphoma in the USA by FDA’s Office of Orphan Products Development.
Orphan-drug designation for Betalutin™ will provide the company several advantages, including reduced costs related to the clinical development program, as well as commercial exclusivity for seven years once the product reaches the market.
Jan A. Alfheim, Nordic Nanovector CEO stated: “With the orphan-drug designation for Betalutin™ in the USA the company has reached another key milestone in the development and commercialization of a potentially important new form of treatment for patients with follicular lymphoma, a significant sub-group of non-Hodgkin Lymphoma.“
About Nordic Nanovector AS
Nordic Nanovector AS is a privately held company established in 2009. The company is based in Norway and has offices and laboratories in Oslo. The company is developing novel innovative anticancer radioimmunotherapeutics to treat Non-Hodgkin Lymphoma (NHL) and other hematological malignancies.
Betalutin™, is a pharmaceutical product candidate consisting of a radionuclide conjugated to a tumor seeking carrier/antibody, which can be used for irradiation of malignant metastasized tumors with minimal damage to nearby healthy normal tissue. This technology aims to prolong and improve the quality of life of people who suffer from non-Hodgkin Lymphoma (NHL).