Targovax ASA – Exercise of subscription rights in the rights issue by close associate of a primary insider

1 December 2021: Reference is made to the announcements made by Targovax ASA (the "Company") on 30 November 2021, regarding the commencement of the subscription period for the rights issue (the "Rights Issue") and the receipt of subscription rights in the Rights Issue by certain primary insiders and close associates of primary insiders of the Company.

Eva-Lotta Coulter, Board member and primary insider in Targovax, has today, on 1 December 2021, exercised 20,000 subscription rights in the Rights Issue, entitling Eva-Lotta Coulter to be allocated 20,000 offer shares in the Rights Issue at a price per offer share of NOK 1.72, subject to the Rights Issue being completed.

Please see the attached notification of trade for further information.

Notification by Primary Insider_Coulter 011221 exercise.pdf

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.