Targovax positioned for important clinical read outs

Our portfolio company Targovax reports significant progress, both financially and clinically in second quarter first half year of 2017 report. 


 “In the first half of 2017, the Company took significant strides forward, demonstrating important clinical and financial progress, as well as strengthening our team with the hire of Erik Digman Wiklund as CFO. We are especially pleased by the recent data showing a signal of efficacy of TG01 in patients with resected pancreatic cancer, which is an important milestone for the TG program. Combined with the successful fund raising this summer of NOK 206 million (approx. $26 million), we believe we are well positioned to deliver several important clinical read-outs going forward,” says Øystein Soug, CEO Targovax. 






  • In February, Targovax announced encouraging top line two-year survival data from the phase I/II TG01 clinical trial in resected pancreatic cancer patients
    • 68 percent of evaluated patients (13/19) were still alive after two years
  • Further encouraging clinical data from the phase I/II TG01 trial were presented at the 2017 ASCO Annual Meeting in June:
    • TG01 activates mutant RAS specific T cells
    • Median overall survival of 33.1 months was promising in view of previous published reports of 27.6 months for standard of care
    • The regimen was generally well tolerated
  • In April, Targovax initiated the first clinical trial with TG02, the second product from its RAS-peptide immunotherapy platform, in patients with locally recurrent RAS-mutated colorectal cancer
  • In May, Targovax recruited the first patient in its ONCOS-102 study in advanced or unresectable melanoma patients with progression following checkpoint inhibitor treatment



  • Targovax moved its share listing from Oslo Axess to the main board on the Oslo Stock Exchange in March
  • Targovax successfully completed a private placement, raising gross proceeds of NOK 200m (USD 25m)
  • Erik Digman Wiklund was appointed CFO of Targovax, succeeding Øystein Soug, who was promoted to CEO in November 2016. Erik took on the role in April 2017



  • In July, Targovax raised NOK 6.4m (USD 0.8m) in a subsequent repair offering following the private placement in June


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 as potential multi-target, neo-antigen therapeutic cancer vaccines. ONCOS exclusively uses an adenovirus that has been engineered to be an immune activator that selectively targets cancer cells. In phase I studies 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, TG, is a target specific, neo-antigen therapeutic cancer vaccine platform that 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 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.

In July 2016, the Company listed its shares on Oslo Axess. In March 2017, the shares moved to Oslo Børs, the main Oslo Stock Exchange.


Source: Targovax