Targovax ASA: Fourth quarter 2019 results

Oslo, Norway, 11 March 2020 – Targovax ASA (OSE: TRVX), a clinical stage biotechnology company developing immune activators to target hard-to-treat solid tumors, today announces its fourth quarter 2019 results.

A meeting for investors, analysts and press will take place in Oslo today at 10:00 CET (details below).

Highlights for the fourth quarter 2019

  • In October, Targovax was selected for oral presentation at Society for Immunotherapy of Cancer (SITC) 2019 Annual Meeting. The presentation was given by Dr. Alexander Shoushtari, Principal Investigator of ONCOS-102 trial in melanoma, Memorial Sloan Kettering Cancer Center, NYC

Post-period highlights

  • In January 2020, Targovax announced it has entered into an option agreement with IOVaxis Therapeutics for an TG mutant RAS vaccine license and clinical development agreement in China
  • In January 2020, Targovax presented encouraging data in the mesothelioma study combining ONCOS-102 and standard of care chemotherapy
  • In January 2020, Targovax successfully completed a private placement, raising gross proceeds of approximately NOK 101 million (USD 11.2 million)
  • In March, Targovax announced completed enrollment in the ONCOS-102 trial in anti-PD1 refractory melanoma

Øystein Soug, CEO commented:

“2019 marked an important milestone for Targovax as we started to see clinical efficacy with ONCOS-102 in combination with checkpoint inhibitors and chemotherapy. With the new data at hand, we have solidified our position as a leader in the oncolytic virus field. While we continue to treat patients and analyze data, we are preparing for the next steps of the ONCOS program beyond the ongoing trials.”

Presentation

The presentation will take place at 10:00 CET at:
Hotel Continental
Stortingsgaten 24/26
0117 Oslo

The presentation will also be webcast live and can be accessed here.

Reporting material

Targvoax 4Q presentation

Targovax 4Q report

The quarterly report and presentation are also available at the website www.targovax.com.

For further information, please contact:

Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@targovax.com

Media and IR enquires:

Andreas Tinglum – Corporate Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no

About Targovax

Activating the patient’s immune system to fight cancer

Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing oncolytic viruses to target hard-to-treat solid tumors. Targovax’s lead product 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.

ONCOS-102 is currently being tested in mesothelioma, melanoma and peritoneal malignancies and has already shown promising clinical results both as monotherapy and in combination with chemotherapy, and a checkpoint inhibitor.