Targovax granted US Patent for mutant-RAS neoantig

Extends IP protection of TG01 and TG02 until 06.05.2034 Oslo, 25 September 2017: Targovax ASA ("Targovax" or "the Company"; OSE: TRVX), a clinical stage company focused on developing immuno-oncology therapies to target solid tumors, announces that the US Patent and Trademark Office has granted US Patent no 9,757,439. The patent protects Targovax' mutant-RAS specific neoantigen vaccines, TG01 and TG02, for the treatment of cancer in combination with anti-metabolite chemotherapy.

Jon Amund Eriksen, Chief Technology Innovation Officer, and Co-founder of Targovax, said: "We are delighted that this US patent has been granted, further strengthening Targovax' intellectual property portfolio covering the very important mutant-RAS neoantigen. The oncology market is ever expanding, with the immuno-oncology segment expected to see the largest growth in the coming years. Securing this patent protects our innovative mutant-RAS specific cancer immunotherapy platform and strengthens our market position for treatment of RAS-mutated cancers."

Targovax' proprietary mutant-RAS neoantigen vaccine platform is designed to treat patients with tumors harboring RAS mutations. Mutations in the RAS genes are a driving cause of cancer development and progression, and is linked to poor prognosis. By inducing an anti-mutant-RAS specific immune response, TG01 and TG02 have the potential to delay disease progression and increase survival, with a favorable safety profile compared to chemotherapy and many other treatment options.

In the recently completed main cohort of a Phase I/II clinical trial in resected pancreatic cancer with TG01 treatment in combination with the chemotherapeutic agent gemcitabine, immune response was seen in 95% (18/19) of patients. The median survival was 33.1 months, which is encouraging compared to the recently reported 27.6 months median survival for patients treated with gemcitabine alone. The second cohort of this trial, consisting of 13 patients on a dosing regimen with fewer TG01 injections, will read out in 2018.

For further information, please contact: Renate Birkeli, Investor Relations Phone: +47 922 61 624 Email: renate.birkeli@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 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.

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