Targovax ASA moves share listing to Oslo Børs
(Thomson Reuters ONE) -
Oslo, Norway, 23 March 2017: Targovax ASA ("Targovax" or "the Company"; OSE:
TRVX), a clinical stage company focused on developing immuno-oncology therapies
to target treatment-resistant solid tumors, today announces that its shares have
been accepted to list on Oslo Børs, the main Oslo Stock Exchange. The Company
was previously listed on Oslo Axess, a regulated and licensed market under the
auspices of the Oslo Stock Exchange.
Since listing the shares of Targovax on Oslo Axess in July 2016, the Company has
achieved several milestones, including:
* Encouraging top line two-year survival data from the TG01 clinical trial in
resected pancreatic cancer patients. Data showed a survival rate of 68% from
the first patient cohort compared to published historical rate of 30-53%,
suggesting a signal of clinical efficacy for the drug candidate
* Granting of European patent for ONCOS-102, protecting Targovax's ONCOS
platform lead product until 2029
* Strengthening the team with the appointment of Øystein Soug as Chief
Executive Officer and the appointment of Erik Digman Wiklund as Chief
Financial Officer
* Presenting at a number of scientific and investor conferences
Øystein Soug, Chief Executive Officer of Targovax, said: "This move marks
another exciting step for Targovax. Being part of the main market is an
important development for the future of the company, giving us access to a
larger investor base and helping enhance our visibility. We are pleased to have
had the support from the Axess market and are delighted to have been accepted on
to the Oslo main market."
For further information, please contact:
Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli(at)targovax.com
Media and IR enquires:
Jan Petter Stiff - Crux Advisers (Norway)
Phone: +47 995 13 891
Email: stiff(at)crux.no
Julia Phillips/Simon Conway - FTI Consulting (International)
Phone: +44 20 3727 1000
Email: Targovax(at)fticonsulting.com
About Targovax
Arming the patient's immune system to fight cancer
Targovax 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, an emerging class of
biological therapy. ONCOS exclusively uses an adenovirus that has been
engineered to be a tumor-targeted immune activator. The platform has the
potential to generate therapies with superior efficacy and safety compared to
the first approved oncolytic virus therapy, Imlygic(®), launched by Amgen. We
continue to expect key proof of concept data for this platform in 2017 from a
clinical study of lead program ONCOS-102 in patients with refractory malignant
melanoma.
The second platform, TG peptides (TG), solely targets tumors that express
mutated forms of the RAS protein. Mutations to this 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 a patient's immune system to identify
and then destroy tumors bearing any RAS mutations. In early 2017, key proof of
concept data for the TG platform from a clinical study of TG01 in resected
pancreatic cancer patients showed encouraging overall survival and will guide
the future plans for the clinical development of TG01.
Targovax's development pipeline has three novel therapeutic candidates in
clinical development covering six indications. Already promising safety and
tolerability data and early signs of clinical response have been demonstrated.
Both platforms are protected by an extensive portfolio of IP and know-how and
have the potential to yield multiple product candidates in a cost-effective
manner. We have a number in early stages of development in addition to the three
outlined above.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Targovax ASA via GlobeNewswire
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