Targovax ASA: Fourth quarter and full year 2018 results

Oslo, Norway, 14 February 2019 – Targovax ASA (OSE: TRVX), a clinical stage biotechnology company developing immune activators to target hard-to-treat solid tumors, today announces its fourth quarter and full year 2018 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 2018

  • In October, the Company reported the full data set from the TG01 trial in resected pancreatic cancer. The trial showed six months improvement in median overall survival (mOS) data over comparable historical control trials and RAS-specific immune activation in 94% of patients
  • In October, the Company hosted a Key Opinion Leader Symposium on oncolytic viruses in New York City, with speakers from Memorial Sloan Kettering Cancer Centre presenting an overview of the oncolytic virus space and encouraging interim data from the ONCOS-102 trial in CPI refractory advanced melanoma

POST-PERIOD HIGHLIGHTS

  • In January 2019, Targovax announced that the European Patent Office has granted a European Patent which protects Targovax’ mutant-RAS specific neoantigen peptides, mutant RAS specific T-cells and vaccines TG01 and TG02, for the treatment of cancer in combination with chemotherapies. This extends the IP protection of TG01 and TG02 into 2034
  • In February 2019, Targovax announced that the first patient has been treated in the dose expansion cohort of the ONCOS-102 trial in melanoma

Øystein Soug, CEO commented: “2018 was the year when we really started to see data read-outs from our two immune activator programs. ONCOS showed the first signs of efficacy in combination trials with both check-point inhibitors and chemotherapy. TG became the first therapeutic cancer vaccine to clinically demonstrate T-cell activation towards a driver mutation, mutant RAS, combined with a clear signal of survival benefit in resected pancreatic cancer patients. We now look forward towards 2019 and 2020 as we continue to progress our clinical program and unlock the full potential of both of these platforms

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

TRVX 4Q18 report

TRVX 4Q18 presentation

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. Immuno-oncology is currently one of the fastest growing therapeutic fields in medicine.

Targovax’s lead product candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect and replicate in cancer cells. It activates the immune system to generate tumor-specific immune responses. In a phase I monotherapy trial, ONCOS-102 induced both local and systemic innate and adaptive immune activation, with associated clinical benefit. In an ongoing phase I trial, patients who have progressed on anti-PD1 checkpoint inhibitors and treated with ONCOS-102 in combination with Keytruda, demonstrated responses in three of nine patients (33% ORR) including one complete response. ONCOS-102’s lead indication is mesothelioma, where the virus is currently being tested in a randomized phase I/II trial expected to report around new year 2019-20.