Nordic Nanovector ASA (OSE: NANO) is pleased to announce that Lisa Rojkjaer, MD has joined the company today as Chief Medical Officer (CMO) and as a member of the Executive Management Team. Dr Rojkjaer will lead all clinical development strategy and execution and support the company’s efforts to identify opportunities to expand its pipeline of innovative targeted therapies for haematological cancers.
Dr Rojkjaer is a board-certified haematologist with more than 15 years of global and regional clinical development and medical affairs expertise in the biotech and pharma industries, and has extensive experience in the development of both biologics and small molecules in haematology and immunology. She joins Nordic Nanovector from Novartis Pharmaceuticals where she held the position of Global Clinical Program Head, Oncology Global Development. Her previous roles also include CMO at Molecular Partners (Switzerland), Vice President, Head of Clinical Development at Morphosys AG (Germany), and Head of Global Medical Affairs, Biopharmaceuticals and Director of Clinical Development, Hematology in the US for Novo Nordisk.
Dr Rojkjaer holds a medical degree from the University of Toronto and received board certification in both internal medicine and hematology.
Dr Rojkjaer commented: “I am delighted to join Nordic Nanovector at this exciting time in its development. The company’s lead candidate Betalutin® is demonstrating in clinical studies its potential to become an important new therapy for the treatment of NHL patients. Its technology is also providing multiple exciting new pipeline opportunities. I look forward to working with the management team and contributing to the future growth of the company.”
Luigi Costa, Chief Executive Officer, added: “I am very pleased to welcome Lisa to the team. She brings on board strong expertise in clinical development of novel cancer treatments, particularly in the field of haematology. Lisa’s knowledge and leadership will be key to the development of Betalutin® as well as to support the growth of Nordic Nanovector’s promising pipeline.”
“As in the previous two quarters, Photocure continued to grow sales revenues in third quarter. The Hexvix/Cysview sales revenue increase for the quarter and first nine months was double digit. It is encouraging to see the positive momentum of volume growth and increased adoption of Cysview in the US, both in the quarter and year to date,” says Kjetil Hestdal, president and CEO.
Photocure reported total revenues of NOK 35.2 million in the third quarter of 2016 (35.9), with an EBITDA of NOK -1.6 million (-1.6). Net profit was NOK 0.1 million (-5.0), while the cash position ended at NOK 93.9 million. The underlying sales revenue growth of 17 % for the Hexvix/Cysview franchise was driven by increased demand in the US, price increases and foreign exchange rates. Total Hexvix/Cysview global in-market sales increased 12% to NOK 181 million year to date with a year to date in-market unit sales growth of 5%
In the US, third quarter revenue increased 46% and year to date revenue increased 43% compared to same periods the prior year. The increase was driven by volume growth, positive foreign exchange rates and price increase. In constant currency, year to date revenue grew 35% compared to the same period in 2015.
“The US growth was driven both by the number of permanent blue light cystoscopes (BLCs) installed at leading US hospitals/urology centers and by increased average usage per center. In addition, several new and key medical publications on the medical benefits of Blue Light Cystoscopy with Hexvix/Cysview were announced in the third quarter, including studies published in Bladder Cancer, World Journal of Urology and The Journal of Urology, documenting clinical benefits for bladder cancer patients by using Hexvix/Cysview,” says Hestdal.
Photocure expects to increase unit sales for Hexvix/Cysview through continued positive sales development of Cysview in the US, launch in new markets as well as growth in key mature markets. The company will continue to expand its commercial presence in urology by furthering the Hexvix/Cysview opportunity in the bladder cancer surveillance market with finalization of the new phase 3 clinical trial.
The company expects this trial to cost USD 7.5 million in total, down from originally planned USD 8.5 million. Photocure is entitled to receive EUR 4 million from Galderma in the fourth quarter of 2016, as the final payment related to the 2009 Metvix asset purchase agreement.
“The patient enrollment in the phase 3 clinical study of Blue Light Flexible Cystoscopy with Cysview is progressing according to plan and expected to be fully recruited by the end of 2016. Our cash position is expected to remain solid throughout 2016 including committed deferred payments and milestones. We are also working closely with our advisor and remain fully committed to establish strategic partnerships for our non-urology pipeline products, Visonac and Cevira”, says Hestdal.
Photocure ASA will present its interim report today at Hotel Continental, Oslo, Norway. Continental, Oslo, Norway. The presentation will begin at 08.30 (CET) and representatives from the company will be Kjetil Hestdal, President & CEO, Erik Dahl, CFO. The presentation will be publicly available at www.photocure.com. It will be possible to follow the presentation through a live webcast.
Photocure will additionally host an audio webcast and conference call today in English at 17:00 CET / 16:00 GMT / 12:00 EST.
Please join the event conference 5-10 minutes prior to the start time using the number and confirmation code below:
NORWAY: +47 2350 0296
UK: +44(0)20 7026 5967
USA: +1 719 325 2213
Confirmation code: 9330000
It is possible to listen to a replay of the conference call on the following numbers:
NORWAY +47 2350 0077
UK +44 (0)207 984 7568
USA +1 719 457 0820
Confirmation code: 9330000
The Norwegian Research Council granted Oslo Cancer Cluster member companies Oncoimmunity, Vaccibody, Nextera and Nordic Nanovector funding through the Programme for User-Driven Research Based Innovation (BIA).
In total, the Norwegian Research Council will grant 532 MNOK to 50 Norwegian companies, of which 10 are within biomedicine.
Oncoimmunity, Vaccibody, Nextera and Nordic Nanovector will receive between 15-20 million NOK each over 4 years, depending on the outcome of the contract negotiations between the council and the companies. Funding from the BIA programme is a quality stamp since the companies compete in “open class” where all sectors are represented.
Titles for the granted innovation projects:
- Vaccibody: Targeted Personalized Therapeutic Cancer Vaccines
Press release from Vaccibody
- Nordic Nanovector: Development of Two New Antibody Radionuclide Conjugates for Treatment of Malignant Lymphoma and Leukemia
- Oncoimmunity: Software for profiling tumor neo-antigens to empower cancer immunotherapy
- Nextera: Novel targeted therapy for treating Leukemia