Nordic Nanovector (No_rec, TP: NOK) - Proposed merger with APIM Therapeutics
Nordic Nanovector has concluded its strategic review, and the outcome is a proposed merger with the unlisted Norwegian company APIM Therapeutics. Under the proposed terms of the merger, the owners of APIM Therapeutics are set to have c76% of the combined entity, while Nordic Nanovector’s owners would have c24%. An EGM has been scheduled for 1 December or thereabouts and, if approved, the transaction should close in late Q4. We have removed our recommendation and target price following the strategic announcement.Nordic Nanovector is committed to develop and deliver innovative therapies to patients to address major unmet medical needs and advance cancer care. Co. is engaged in the development of targeted therapies for haematological cancers. Co.'s clinical-stage candidate is Betalutin®, a novel CD37-targeting Antibody Radionuclide Conjugates (ARC) designed to improve upon and complement options for the treatment of non-Hodgkin Lymphoma (NHL). NHL is an indication with substantial unmet medical need and orphan drug opportunities. Co. aims to rapidly develop Betalutin®, alone and in combination with other cancer therapies, for the treatment of major types of NHL.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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