Oslo, Norway, 20 August 2020 – Targovax ASA (OSE: TRVX), a clinical stage biotechnology company developing immune activators to target hard-to-treat solid tumors, today announces its second quarter and first half 2020 results.
An online presentation by Targovax’s management to investors, analysts and the press will take place at 10:00 CET today (details below).
HIGHLIGHTS FOR THE SECOND QUARTER AND FIRST HALF 2020
Data
- Announced encouraging clinical and immune data in mesothelioma combining ONCOS-102 and chemotherapy demonstrating that ONCOS-102 activates patients’ immune system far more extensively than chemotherapy
- Presented interim data from safety lead-in cohort in the ovarian and colorectal (peritoneal metastasis) trial at ASCO
- Presented pre-clinical data from Next Generation ONCOS at AACR
- Completed enrollment in the melanoma trial
Collaborations
- Entered into a collaboration with Merck to test ONCOS-102 in combination with Keytruda and chemotherapy in mesothelioma
- Entered into a collaboration with Leidos to equip ONCOS viruses with genetic elements encoding for small peptides with checkpoint inhibitor functionality
- Entered into an option agreement with IOVaxis Therapeutics for a TG mutant RAS vaccine license agreement in Greater China and Singapore
- Entered into a collaboration to develop mutant RAS neoantigen coating of ONCOS viruses using Valo Therapeutic’s PeptiCRAd technology
- Entered into a collaboration with Oblique Therapeutics to target mutant RAS cancers by combining both companies’ technology platforms
Corporate
- Completed a private placement, raising NOK 101 million (USD 11.2 million)
- Announced election of Damian Marron as Chairman of the Board
- Appointed Dr Victor Levitsky, MD, PhD as CSO
Øystein Soug, CEO commented: “Targovax had a highly productive second quarter this year. Most importantly, we reported 12-month immune and efficacy data for ONCOS-102 in mesothelioma, our lead indication, in combination with standard of care chemotherapy (SoC). Based on the promising findings so far, we have started preparations for a subsequent randomized phase II trial where we will add a checkpoint inhibitor to the ONCOS-102 and chemotherapy combination. We are very pleased to have secured a clinical collaboration agreement with Merck for this trial, who will provide Keytruda® and valuable scientific and clinical support for the trial. Additionally, three new innovative collaborations, of which two of them were RAS collaborations, were signed during the quarter, indicating a high interest in Targovax.”
Presentation
As a consequence of the Corona situation, there will not be a physical presentation of the results. Instead, we invite to a live webcast today at 10.00 CET. You can join the webcast here. It will be possible to ask questions during the presentation.
Reporting material
Targovax 2Q 2020 – Report
Targovax 2Q 2020 – Presentation
The quarterly report and presentation are also available at the website www.circio.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.