(Oslo, June 16th, 2014) Targovax AS is registered on the NOTC-list from June 16th, 2014, with ticker code TRVX. The company has issued 9 429 404 shares, each at par value NOK 0.10. All shares are registered in VPS with ISIN code NO 001 0689326. Based on the most recent capital increase, June 4th, 2014, where the shares were TEGNET for NOK 21.50, the company has a post money price of NOK 202 732 186. The company has entered an agreement wiht NOTC AS and will be able to use the reporting system from June 16th, 2014.
Targovax is a cancer biotech-company started in October 2010 to develop targeted immunotherapy in the form of therapeutic cancer vaccines. Lead candidate TG01 has Orphan Drug status for pancreatic cancer in the EU and US and is currently in Phase II trials in operated pancreatic cancer. The company is located in Lysaker, close to Oslo, Norway.
Jonas Einarsson (Press contact)
Chairman of the Board
Cell phone: +47 48 09 63 55
Hanne Mette D. Kristensen
Cell phone: +47 97 19 74 49
Targovax was established in October in 2010 to develop immunotherapy in the form of therapeutic cancer vaccines based on pioneering research into RAS mutations in the Norwegian Radium Hospital and Norsk Hydro. Mutation of RAS is an early mutation in the transformation of a normal cell into a cancer cell. Lead candidate TG01 has Orphan Drug status for pancreatic cancer in the EU and US and is currently in Phase II trials in operated pancreatic cancer, patients start treatment 1-8 weeks after surgery. The company is located in Lysaker, close to Oslo, Norway.
Immuno- oncology / Cancer vaccines
The Norwegian cancer research community has been in the forefront of understanding the mechanisms for immuno-oncology and cancer vaccines. A cancer vaccine educates the body’s immune system to recognize and kill the cancer cells. The TG01 vaccine is therapeutic and is given as treatment to patients after surgery of cancer patients, to prevent relapse.
Pancreas cancer and other RAS-mutated cancer forms
Pancreatic cancer is a disease affecting 116 000 patients each year in EU and USA, and approximately 690 persons each year in Norway. Approx 15-20% of these are discovered at an early stage and are operable. The mortality is high, and the prognosis for these patients has been more or less unchanged the last 30 years. Approximately 80-90% of patients with pancreatic cancer have RAS mutations in the cancer cells.
RAS mutations occur in approx. 20% of all cancer cases, and are also frequent in colorectal cancer, non-small cell lung cancer and other cancers. Patients with RAS mutations within these indications have proved to be difficult to treat with current treatments, and there is a significant unmet medical need.