November 22, 2017 / 1:08 PM / a year ago

Nordic Nanovector says on track for milestones, funds sufficient

OSLO, Nov 22 (Reuters) - Norwegian biotech Nordic Nanovector is on track to reach anticipated key milestones in the development of its cancer drugs, Chief Executive Luigi Costa told investors during a strategy update on Wednesday:

** “We have never been stronger than today...the data we have are really very promising and we remain very positive on the Betalutin study Paradigme, which is about to start”

** Paradigme study to start in 2017, currently waiting for regulatory approval in several countries

** Says company is in a better-than-expected financial position

** Says current cash resources are expected to be sufficient until first regulatory filing of Betalutin and to advance other key programmes

** No big changes to timeline for anticipated key milestones

** All clinical development programmes have progressed significantly in the last 12 months and are in line with expectations; ARCHER-1 will start as planned within 2017

** The board says to hold extraordinary general meeting to propose long-term incentive program for employees (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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