Targovax ASA: Third quarter 2017 results
(Thomson Reuters ONE) -
Oslo, Norway, 2 November 2017 - Targovax ASA (OSE: TRVX), a clinical stage
company focused on developing immuno-oncology therapies to target solid tumors,
today announces its third quarter 2017 results.
A meeting for investors, analysts and press will take place in Oslo today at
10:00 CET (details below).
HIGHLIGHTS FOR THE THIRD QUARTER 2017
Research & Development
* Targovax presented data from three trials at the annual meeting of the
European Society of Molecular Oncology (ESMO) in September in Madrid,
highlighting some of the important clinical progress from both of its two
platforms
* Targovax announced the initiation of the Phase I/II trial in ovarian and
colorectal cancer, where, for the first time, ONCOS-102 will be administered
intra-peritoneally. The trial is in combination with IMFINZI(TM)
(durvalumab), and is a collaboration between Targovax and the Cancer
Research Institute (CRI), and sponsored by Ludwig Cancer Research
* Targovax was granted a US patent for the therapeutic use of the product
candidates in its TG mutant-RAS neo-antigen cancer vaccine platform in
combination with anti-metabolite chemotherapy
* At the Nordic Life Science Days conference in Malmø in September, Targovax
received the 2017 Nordic Stars award for outstanding innovation and
entrepreneurial skills
Finance
* In July, Targovax completed the private placement of NOK 200m (USD 26m)
announced in June, as well as a subsequent offering raising a further NOK
6.5m (USD 0.8m)
POST-PERIOD HIGHLIGHTS
* In October, Targovax reported encouraging one-year survival rate, immune
activation, and safety data for the modified "second" cohort in the TG01
phase I/II trial in resected pancreatic cancer, in line with the first[1]
cohort data published earlier in the year
* In October, Targovax was granted a US patent for its product candidate TG02
and its use to stimulate the immune system of cancer patients, the 2(nd)
generation product from the TG platform, which is currently under testing in
a phase I trial in colorectal cancer
Øystein Soug, CEO said: "The momentum generated in the business this year
continued in the third quarter. During the period, we initiated a very
interesting collaboration trial in colorectal and ovarian cancer, where we will
test intraperitoneal administration of ONCOS-102, and combine it with
AstraZeneca's checkpoint inhibitor IMFINZI. We also got an important patent
granted in the US for the therapeutic use of the TG platform in combination with
chemotherapy. In October, the patent position of the TG platform was
strengthened further by the grant of a US product/composition of matter patent
for TG02. In recent weeks, we were also pleased to see the encouraging one-year
survival rate, immune activation, and safety data from the second cohort in the
TG01 trial in resected pancreatic cancer, which further strengthens the
potential of this program. We now look forward to an exciting period in the end
of 2017 and through 2018, with several important data read-outs from our ongoing
clinical trial programs."
###
Presentation
The presentation will take place at 10:00 CET at:
Hotel Continental
Stortingsgaten 24/26
0117 Oslo
The presentation will also be webcast live and can be accessed through
www.targovax.com.
Reporting material
The quarterly report and presentation are also available at the website
www.targovax.com.
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 (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 lesional level which was
associated with clinical benefit. In an ongoing phase I trial in advanced
melanoma we expect important proof of concept data for checkpoint inhibitor
refractory patients.
The second platform, TG, are 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 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
and will give guidance for the future clinical development of this platform.
Targovax's development pipeline has three novel therapeutic candidates in
clinical development covering six indications.
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. Additionally, Targovax has other products in early stages of
development.
--------------------------------------------------------------------------------
[1] Previously referred to as "main" cohort
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Targovax third quarter 2017 presentation:
http://hugin.info/171039/R/2146618/823102.pdf
Targovax third quarter 2017 report:
http://hugin.info/171039/R/2146618/823101.pdf
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
Unternehmensinformation / Kurzprofil:
Datum: 02.11.2017 - 07:00 Uhr
Sprache: Deutsch
News-ID 566292
Anzahl Zeichen: 7707
contact information:
Town:
Oslo
Kategorie:
Business News
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