CardiNor

Executive Summary

CardiNor AS is a Norwegian diagnostics company acquired by IC Targets AS (ICT) to address the heart failure (HF) epidemic through its patented secretoneurin (SN) blood biomarker. SN levels rise early in HF, enabling low-cost, point-of-care screening. The acquisition creates synergies between CardiNor's SN test and ICT's mangafodipir MRI contrast agent: elevated SN can triage patients for confirmatory cardiac MRI, improving diagnostic accuracy and reducing unnecessary procedures. This combined approach targets the growing HF market, where early detection remains a major unmet need. With strong intellectual property and a clear clinical pathway, CardiNor is positioned for regulatory and commercial milestones.

Upcoming Catalysts (preview)

• H2 2026Completion of pivotal clinical validation study for SN test in heart failure70% success
• Q1 2027CE marking or FDA clearance for SN diagnostic test50% success
• 2026Commercial partnership for global distribution of SN test40% success