Oslo, Norway, 20 October 2021 – Targovax ASA (OSE: TRVX), a clinical stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors, today announces the appointment of Dr. Erik Digman Wiklund as Chief Executive Officer (CEO). Dr. Wiklund has intimate knowledge of the company and its technology having served as Chief Business Officer (CBO) and Chief Financial Officer (CFO) of Targovax since 2017.
Dr. Erik Digman Wiklund said: “I am very excited to be entrusted with the opportunity to lead Targovax into the next stage of development. The ONCOS-102 program has set us up with a unique, clinically validated platform system, and I believe we are in a great position to expand beyond ONCOS-102 to build a pipeline of novel, cutting edge product candidates. I am especially excited to explore the potential for utilizing ONCOS as a delivery tool for novel RNA concepts, where we intend to move into the emerging space of circular RNA that has recently attracted significant interest from both industry and investors. In parallel, we continue planning for the ONCOS-102 platform trial in anti-PD1refractory melanoma, and we are in active discussions with prospective collaboration partners who have complementary therapeutics that may act synergistically with ONCOS-102”.
Targovax’s current CEO, Øystein Soug, will remain with the company following the appointment of Dr. Wiklund. Mr. Soug will act as a special advisor and also serve as interim CFO providing important strategic and management continuum for the company.
Damian Marron, Chairman of the Board, commented the transition: “Øystein Soug has effectively led the company through an important period executing the phase 1/2 development program of ONCOS-102, and we would like to place on record our profound thanks for Øystein´s leadership and contribution to Targovax. Øystein´s tenure has culminated in a strong data package for the lead asset ONCOS-102 demonstrating promising clinical efficacy and powerful immune activation in several cancer forms and treatment combinations. We believe that these data confirm the tremendous potential of ONCOS as a versatile delivery vector for targeted anti-cancer payloads, and we wish to pursue this opportunity by expanding our pipeline repertoire. With his deep scientific expertise and intimate knowledge of Targovax and our technology, Erik is the ideal CEO to capture this opportunity and lead the company into the future”.
The Board of Directors of Targovax has initiated a search process for a new CFO, a position Øystein Soug will fill in the interim period. Mr. Soug was the CFO of Targovax in 2015-2016, before he was appointed CEO, and has previously held the position as CFO of Algeta ASA.
Øystein Soug commented: “It has been a privilege to lead Targovax through an exciting and rewarding period. I fully support the Board’s decision to increase the scientific focus and expand our pipeline to fully exploit the potential in the ONCOS platform, and I am delighted that Erik has accepted to take over as CEO to execute this vision. In my view, Erik, with his blend of deep scientific competence and commercial experience, is the best candidate to lead Targovax into the future.”
For further information, please contact:
Damian Marron, Chairman of the Board
Phone: +44 (0)7402 281573
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Oystein Soug, Special Advisor and interim CFO
Phone: +47 906 56 525
Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Andreas Tinglum – Corporate Communications (Norway)
Phone: +47 9300 1773
Activating the patient's immune system to fight cancer
Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors. Targovax aims to unlock greater clinical benefits in cancer patients by deploying its multifunctional platforms to target key immune regulators and oncogenic drivers. Targovax’s focus is to “activate the patient’s immune system to fight cancer”, thus extending and transforming the lives of cancer patients. Targovax’s pipeline aims at different cancer indications, including melanoma, mesothelioma and colorectal cancer. The company’s product candidates are designed to harness the patient’s own immune system to fight the cancer, whilst also delivering a favorable safety and tolerability profile.
Targovax’s lead clinical candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect cancer cells and activate the immune system to fight the cancer. On the back of very encouraging clinical data in several indications, both in monotherapy and in multiple combinations, the next development steps for ONCOS-102 will be to further improve responses in melanoma patients resistant to or poorly responsive to current standard of care.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Renate Birkeli, Investor Relations, Targovax ASA.