Targovax granted European Patent for ONCOS platform lead product, ONCOS-102

Extends protection following grant of ONCOS-102 US patent in May

Oslo, Norway, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Targovax ASA ("Targovax" or "the Company"; OSE: TRVX), a clinical stage company focused on developing immuno-oncology therapies to target, primarily, treatment-resistant solid tumors, today announces the grant of European Patent no 2,379,586. This composition of matter patent protects Targovax's lead product from its ONCOS platform, the oncolytic viral product ONCOS-102 and expires in 2029. A US patent covering ONCOS-102 was granted in May 2016.

Targovax's proprietary ONCOS platform generates novel oncolytic viruses, an emerging class of biological therapy. ONCOS exclusively uses adenoviruses, which are engineered to be tumor targeted immune activators. The platform has the potential to generate therapies with superior efficacy and safety compared to the first approved oncolytic virus therapy, Imlygic, recently launched by Amgen.

In a previously reported Phase I trial ONCOS-102 treatment induced tumor-specific immune activation both at a systemic and lesional level in tumors of late stage cancer patients. The immune activation was associated with signals of clinical benefit. Targovax is currently initiating a number of Phase I/II clinical trials that are expected to readout in the next two years for the treatment of solid tumors such as melanoma, malignant pleural mesothelioma, ovarian cancer and prostate cancer.  

ONCOS-102 has Orphan drug designation with the FDA and EMA in mesothelioma, ovarian cancer and soft tissue sarcoma.

Jon Amund Eriksen, Chief Technology Innovation Officer and Co-founder of Targovax said, "This European patent is an important addition to Targovax's intellectual property portfolio covering our ONCOS platform and the engineered oncolytic viruses that arise from it. The patent further extends the protection of the lead product candidate from the platform, ONCOS-102, following the grant of a US patent for ONCOS-102 in May this year, both of which expire in 2029. The US and Europe are expected to be the largest markets for immuno-oncology products, the most rapidly growing segment for the development of innovative cancer treatments."

The main characteristics of ONCOS-102 include:

• The adenovirus knob 5 domain is replaced by a protein from a different adenovirus (serotype 3) to facilitate the specific entrance of ONCOS-102 into tumor cells
• One of the genes affecting virus replication in the host cells is inactivated (D24 deletion). As a result, the virus cannot replicate in normal cells, but can do so in tumor cells
• A gene coding for GM-CSF, a drug stimulating the immune response, inserted into the virus genome and expressed during the virus replication in the tumor cells

For further information, please contact:
Øystein Soug, CEO
Phone: +47 90 6565 25
Email: oystein.soug@targovax.com

Media and IR enquires:
Jan Petter Stiff - Crux Advisers (Norway)
Phone: +47 995 13 891
Email: stiff@crux.no

Julia Phillips/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 novel immuno-oncology therapies to target, primarily, treatment-resistant solid tumors. The Company's pipeline is created from two novel proprietary platforms, with three therapeutic candidates in clinical development covering six indications including melanoma, mesothelioma, ovarian cancer and resected pancreatic cancer. Targovax's strategy is to bring products to market directly in those indications where it already has Orphan drug status and to partner with pharmaceutical companies in larger disease areas with significant commercial potential.

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