"Nomination of lead compound is an important step marking that we now hold a material that fulfills our strict requirements on pharmacokinetic and chemical properties for selective accumulation in solid tumors, as well as clinical use", says Spago Nanomedical CSO Oskar Axelsson.

The immediate aim is to initiate preclinical proof of concept studies in suitable tumor models.

The design of the lead compound particle also opens further possibilities to increase the patent protection for Tumorad®. As of before, Spago Nanomedical holds approved patents comprising product protection for Tumorad® in strategically important markets for radionuclide therapies until at least 2035.

Tumorad® is a new type of radionuclide therapy based on Spago Nanomedical"s proprietary material and a therapeutically relevant radioisotope for tumor selective radiation therapy of cancer. Access to new therapies is essential for effective treatment of many forms of cancer. Tumorad® holds potential for treatment of aggressive and metastatic tumors, as monotherpay or in synergy with other treatment types.

The term "lead compound" refer to a material that meet the requirements in the desired product profile for continued development in an expanded test program with the aim to declare it candidate drug.

For further information, please contact Mats Hansen, CEO Spago Nanomedical AB, +46 46 81188, mats.hansen@spagonanomedical.se.

Spago Nanomedical AB is a Swedish nanomedicines company in clinical development phase. The company"s development projects are based on a platform of polymeric materials with unique properties for more precise diagnosis and treatment of solid tumors. Spago Nanomedical"s share is listed on Spotlight Stock Market in Stockholm (ticker: SPAG).

For further information, see www.spagonanomedical.se.

The information in this press release is such that Spago Nanomedical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU, 596/2014). The information was submitted for publication, through the agency of the contact person set out above, on January 9, 2020.