Oslo biotech finds another merger partner after shareholders rejected November offer

Share­hold­ers of Nordic Nanovec­tor did not like the first merg­er part­ner the Nor­we­gian biotech chose last fall. So the com­pa­ny went back to the draw­ing board and has found a new one: Thor Med­ical.

Nordic Nanovec­tor had orig­i­nal­ly planned to com­bine with APIM Ther­a­peu­tics, but a few weeks af­ter the No­vem­ber dis­clo­sure, share­hold­ers de­cid­ed it was a no-go.

This time around, Nordic Nanovec­tor hopes to com­bine with the small, pri­vate Thor Med­ical, which is work­ing on pro­pri­etary tech to make ra­dionu­clides, in­clud­ing al­pha-par­ti­cle emit­ters that it plans to sup­ply to ra­dio­phar­ma com­pa­nies for can­cer ther­a­peu­tics. By its count, more than 50 such star­tups and bio­phar­ma com­pa­nies are work­ing on can­cer ra­dio­ther­a­py, and it ex­pects to make a fi­nal de­ci­sion on an in­dus­tri­al-scale man­u­fac­tur­ing fa­cil­i­ty in 2025.

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