Targovax: Completion of drop-down demerger
Oslo, 4 July 2022: Targovax ASA (the "Company") is pleased to announce that the drop-down demerger approved by the general meeting of the Company on 20 April 2022 has been completed.
The drop-down demerger included a demerger of operations and assets from Targovax ASA to Athomstart Invest 586 AS and a merger between Athomstart Invest 586 AS and the Company's wholly-owned subsidiary Targovax Solutions AS, as well as a reduction and increase of the Company's share capital. The completion of the drop-down demerger did not result in a change of the Company's share capital and number of shares issued compared to the Company's share capital and number of shares issued immediately prior to the completion of the drop-down demerger.
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’s focus is to activate the patient’s immune system to fight cancer, and thereby bring benefit to cancer patients with few available treatment alternatives. Targovax is assessing its product candidates in different cancer indications, including melanoma, mesothelioma, multiple myeloma and colorectal cancer, and has demonstrated 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 as monotherapy and in combinations, ONCOS-102 will progress into a phase 2 trial in multiple combinations in melanoma patients resistant to PD1 checkpoint blockade.
Building on successful studies demonstrating clinical efficacy and providing deep mechanistic insights, the ONCOS platform is being expanded into delivery of circular RNA (circRNA). In addition, Targovax has a KRAS immunotherapy program, with lead cancer vaccine candidate, TG01, due to enter the clinic in the second half of 2022. This provides Targovax with a rich pipeline of innovative future immunotherapy product candidates to follow ONCOS-102.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.