Oslo, 18 June 2019: Reference is made to the stock exchange announcement by Targovax ASA (OSE: TRVX) (“the Company) on 12 June 2019 regarding the board of director’s resolution to increase the share capital of the Company by issuance of 102,735 new shares, each with a nominal value of NOK 0.10, in order to facilitate the settlement of restricted stock units.
The share capital increase has today been registered with the Register of Business Enterprises (Nw. Foretaksregisteret). The Company’s new registered share capital is NOK 6,338,361.30 divided into 63,383,613 shares, each with a par value of NOK 0.10.
For further information, please contact:
Torbjørn Furuseth, CFO
Phone: +47 932 11 101
Email: torbjorn.furuseth@targovax.com
About Targovax
Activating the patient’s immune system to fight cancer Targovax (OSE:TRVX) is a clinical stage biotechnology company developing immune activators 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 has been shown to activate the immune system to generate tumor-specific immune responses. In phase I trials, ONCOS-102 induced both local and systemic innate and adaptive immune activation, which has been associated with clinical benefit. ONCOS-102’s targeted path-to-market indication is mesothelioma, where the virus is currently being tested in a randomized phase II trial. Another trial, in checkpoint inhibitor refractory advanced melanoma, is expected to produce important proof-of-concept immune activation data in heavily pre-treated patients.
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.