Diane Mellett, member of the board of directors (the “Primary Insider”) of Targovax ASA (the “Company”), has settled 17,704 restrictive stock units (“RSUs”), which were granted at the AGM in 2016, giving the Primary Insider the right to subscribe for an equal number of shares in the Company at a price of NOK 0.10 per share. Following the Primary Insider’s subscription of shares and registration of the Company’s new share capital, the Primary Insider and her close associates will hold 17,704 shares and 47,743 RSUs in the Company.
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.