Cardinor is acquired by IC Targets AS

We see strong synergies between the two companies' diagnostic solutions for heart failure: CardiNor's low-cost SN blood test and the proprietary MRI contrast agent mangafodipir from ICT. Elevated SN levels are a strong indicator that cardiac MRI should be performed to assess for structural or functional heart disease.

Both the SN blood biomarker and the mangafodipir MRI contrast agent are offering unique properties within cardiovascular disease diagnostics. The SN biomarker has the potential to serve as a companion diagnostic for mangafodipir-enhanced MRI helping to identify patients who are most likely to benefit from treatment and to monitor therapy response. Together, the SN blood test and mangafodipir-enhanced MRI combination is a powerful tool for personalized medicine - ensuring that the right treatment is administrated to the right patient at the right time.

Because of the exciting potential synergy IC Targets AS plans to include SN (blood samples) in the future clinical trials of mangafodipir for cardiac disease. A primary task post-acquisition is to ensure that CardiNor's SN products are available for the planned Phase IIb clinical trial in 2026. Furthermore, the SN biomarkers from CardiNor also makes a stand-alone business opportunity for ICT, both as a research use only product and a CE-marked IVD. IC Targets will carefully consider the best plan to exploit the commercial potential for the SN products, most probably in a cost-efficient cooperation with IVD partners, service laboratories and distributors. An update on the future plans for CardiNor could be expected within the next three months.