Targovax awarded NOK 9.8m research grant by the Research Council of Norway towards the TG mutant RAS program

Oslo, Norway, 15 December 2021 – Targovax ASA (OSE: TRVX) a clinical stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors, today announces that the Research Council of Norway has awarded Targovax a NOK 9.8m research grant towards product and clinical development for the TG mutant KRAS cancer vaccine program.

The Research Council of Norway has awarded the grant within the category “Innovation Project for the Industrial Sector”.

Project title: “Development of targeted therapies for mutant RAS cancers”
Awarded by: The Research Council of Norway
Granted amount: 9.8 MNOK
Time frame: 2022-2025

Dr. Erik Digman Wiklund, CEO of Targovax, commented:  “We are very grateful to be awarded this substantial and prestigious grant by the Research Council of Norway, which is a strong endorsement of the underlying science and broad potential of our mutant RAS program. These funds will enable continued clinical development of our TG vaccine candidates, as well as support important immunological characterization and product development“.


For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@targovax.com

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

Media 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 immune activators to target hard-to-treat solid tumors. Targovax aims to unlock greater clinical benefits in cancer patients by deploying its multifunctional platforms to target key immune regulators and oncogenic drivers. Targovax’s focus is to “activate the patient’s immune system to fight cancer”, thus extending and transforming the lives of cancer patients. Targovax’s pipeline aims at different cancer indications, including melanoma, mesothelioma and colorectal cancer. The company’s product candidates are designed to harness the patient’s own immune system to fight the cancer, whilst also delivering a favorable safety and tolerability profile.

Targovax’s lead clinical 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. On the back of very encouraging clinical data in several indications, both in monotherapy and in multiple combinations, the next development steps for ONCOS-102 will be to further improve responses in melanoma patients resistant to or poorly responsive to current standard of care.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Renate Birkeli, Investor Relations, Targovax ASA, on 15th December, at 17:37 CET.