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Job Cuts As Nordic Nanovector Extends Cash Runway

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

 
• By Sten Stovall

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.

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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...

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