Thor Medical signs agreement to transfer its Nordic Nanovector patents to NucliThera

30 Nov 2023 20:06 CET

30.11.2023 20:06:18 CET | Thor Medical ASA | Additional regulated information
required to be disclosed under the laws of a member state

Oslo, 30 November 2023: The Board of Directors in Thor Medical ASA has today
entered into an agreement for the transfer of former Nordic Nanovector's
pipeline of patented development stage candidates ("Nanovector Patents") to the
newly established company NucliThera AS.

Reference is made to the stock exchange release on 6 June 2023 and presentation
on the company's AGM in relation to the acquisition of Thor Medical AS,
reflecting an agreement between all parties to explore opportunities to finance
further development of the Nanovector Patents in a separate company.

Subject to the terms and conditions of the agreement, NucliThera AS will assume
full ownership, title, and interest to the Nanovector Patents and lab facilities
as Kjelsåsveien in Oslo, with Thor Medical retaining interest through an
undisclosed profit-sharing agreement in the event of successful
commercialization of the patents.

NucliThera AS is a company founded by Roy Larsen, Morten Lande, and Øyvind
Bruland with an ownership share of 80%, 16%, and 4% respectively. The Board of
Directors of NucliThera AS consists of Roy Larsen, Morten Lande, and Ludvik
Sandnes. Sandnes hence withdrew from participating in the Board of Directors in
Thor Medical's decision due to conflict of interest.

Roy Larsen comments: We will attempt to license out and/or continue clinical
trials development related to the Nanovector Patents, for the possibility to
develop novel medicine for hematological cancer. The plan is to establish a
small, but qualified team and search for international partnerships. I am
pleased that Morten Lande has accepted to invest and act on the Board of
Directors, he has been following our work at Algeta and Nordic Nanovector. I'm
also glad Øyvind Bruland and Ludvik Sandnes will contribute in this project.

DISCLOSURE REGULATION

This information is required to be disclosed under Section 5-12 of the
Securities Trading Act.

CONTACTS

* Brede Ellingsæter, CFO, Thor Medical ASA, +47 472 38 440,
brede.ellingseter@thormedical.no

ABOUT THOR MEDICAL ASA

Thor Medical is an emerging supplier of radionuclides, primarily alpha particle
emitters, from naturally occurring thorium. Its proprietary production process
requires no irradiation or use of nuclear reactors, and provides reliable,
environmentally friendly, cost-efficient supply of alpha-emitters for the
radiopharmaceutical industry. Thor Medical is headquartered in Oslo, Norway and
listed on the Oslo Stock Exchange under the ticker symbol 'TRMED'.

To learn more, visitwww.thormedical.no - https://www.thormedical.no.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848634/2787/3896/Download%20announcement
%20as%20PDF.pdf

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