Job Cuts As Nordic Nanovector Extends Cash Runway

Biotech’s Priority Is Pivotal Betalutin Study But COVID-19 Uncertainty Remains

Shrinking cash and COVID-19 uncertainty have prompted Nordic Nanovector to slash costs and focus purely on its lead asset’s pivotal trial in third-line follicular lymphoma.

Runway_24
Nordic Nanovector has extended its cash runway by restructuring, cutting costs. • Source: Shutterstock

Faced with a shortened financial runway and trial recruitment obstacles caused by the COVID-19 crisis, Nordic Nanovector ASA will cut staff by 20% and pause all clinical activities other than its key pivotal PARADIGME study which is evaluating lead asset Betalutin (177Lu lilotomab satetraxetan) in third-line relapsed/refractory follicular lymphoma.

The Norway-based biotech is advancing Betalutin in the global, randomized Phase IIb trial as a first-to-market treatment for in third-line...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Business

Finance Watch: Sarepta’s Debt Woes Grow With Elevidys Shipment Pause

 
• By 

Public Company Edition: Sarepta restructured after stopping shipments of its Elevidys for some patients to ease future debt pressures, but now it has stopped shipments to all patients. Also, Madrigal secured up to $500m in new debt, Cogent closed a $230m offering and other financings.

Avalyn Raises $100m Series D To Advance Inhaled Pulmonary Fibrosis Candidates

 
• By 

Looking to improve on the efficacy and safety of Roche’s Esbriet and BI’s Ofev, Avalyn has inhalable formulations of those drugs in Phase IIb and Phase I, respectively.

AstraZeneca Pledges Big Investment In US Manufacturing Amid Tariff Threats

 

The drugmaker plans to build a large manufacturing center in Virginia as the centerpiece of an effort to invest $50bn in the US by 2030.

Replimune CRL Could Hold Warning For Accelerated Approvals

 

FDA issued a complete response letter to Replimune’s BLA for a novel oncolytic immunotherapy for melanoma in a surprise to management and investors.

More from Scrip

Stock Watch: Q2 Sales Growth Sparks Diverging Reactions To J&J And Novartis

 
• By 

With drug sector indexes underperforming the broad market in the first half of 2025, investors may have been anticipating tariff-related and other headwinds. But impending loss of exclusivity on key products may be provoking more anxiety at this point.

Sanofi Doubles Down On Respiratory Vaccines With Vicebio Buy

 
• By 

The French major is paying $1.15bn For the UK biotech and its bivalent candidate, VXB-241.

Chinese Biotechs Sweep ADC Plus PD-(L)1/VEGF Bispecific Combos Into Phase II

 

Chinese firms Junshi, Minghui and RemeGen rank among the world’s few players progressing antibody-drug conjugates combined with PD-(L)1/VEGF bispecific antibodies in Phase II trials for various cancers.