Targovax ASA: Annual Report 2017

On 14 March 2018, the board of directors of Targovax ASA approved the company's financial statements for 2017, which will be dealt with by the Company's annual general meeting on 11 April 2018. The company's annual accounts for the financial year 2017, including the financial statements and annual report for the financial year 2017, are together with the auditor's report, attached to this notice and is also available at the company's webpage, 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

Simon Conway - FTI Consulting (International)
Phone: +44 20 3727 1000
Email: Targovax@fticonsulting.com   

About Targovax

Arming the patient's immune system to fight cancer

Targovax (OSE:TRVX) is a clinical stage company focused on developing and commercializing novel immuno-oncology therapies to target, primarily, treatment-resistant solid tumors. Immuno-oncology is currently one of the fastest growing therapeutic fields in medicine.

The Company's development pipeline is based on two novel proprietary platforms:

The first platform, ONCOS, uses oncolytic viruses as potential multi-target, neo-antigen, therapeutic cancer vaccines. ONCOS uses an adenovirus that has been engineered to be an immune activator that selectively targets cancer cells. In phase I trials it has demonstrated immune activation at tumor lesional level which was associated with clinical benefit. In an ongoing phase I combination trial in advanced melanoma we are seeking important proof of concept data to confirm that patients who have become refractory to treatment with a checkpoint inhibitor (CPI) can respond to the same checkpoint inhibitor after treatment with ONCOS-102.

The second platform, TG, uses neo-antigen cancer vaccines designed to specifically treat tumors that express mutated forms of RAS. Mutations to the RAS protein are common in many cancers and are known to drive aggressive disease progression and treatment resistance. There is a high unmet medical need for therapies that are effective against tumors that express these mutations. The TG platform's therapeutic potential stems from its ability to enable the patient's immune system to develop a cellular response with the potential to identify and destroy tumors bearing any RAS mutations. In early 2017, key proof of concept data for the TG platform from a clinical trial of TG01 in resected pancreatic cancer patients showed encouraging overall survival.  These results are now providing guidance for the future clinical development of this platform.

Targovax's clinical development pipeline includes three novel therapeutic candidates covering six indications.

Both platforms are protected by an extensive portfolio of Intellectual Property (IP) and know-how and have the potential to yield multiple pipeline candidates in a cost-effective manner. Additionally, Targovax has other product candidates in preclinical development.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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