OSLO, Norway, Nov. 5, 2020 /PRNewswire/ -- Targovax ASA
(OSE: TRVX), a clinical stage biotechnology company developing
immune activators to target hard-to-treat solid tumors, today
announces its third quarter 2020 results.
An online presentation by Targovax's management to investors,
analysts and the press will take place at 10:00 CET today (details below).
RECENT HIGHLIGHTS
- Announced that the ONCOS-102 and Imfinzi (durvalumab) trial
successfully completed part 1 in colorectal cancer. The pre-defined
disease control efficacy threshold in the colorectal cancer cohort
was met and the part 2 has opened for recruitment of 14 additional
patients.
- Announced that an abstract on the mesothelioma trial has been
accepted and will be presented at the Society for Immunotherapy of
Cancer (SITC) 35th Anniversary Annual Meeting, 9 -14 November 2020. The abstract presents the
12-month analysis of biomarkers and clinical outcome from the phase
I/II trial in malignant pleural mesothelioma where ONCOS-102 is
added to standard of care chemotherapy (pemetrexed / cisplatin).
This analysis supports the data previously presented in June.
- Completed a private placement, raising gross proceeds of
approximately NOK 75 million
(USD 8 million). The Private
Placement attracted strong interest from existing shareholders and
new institutional investors, both in the Nordics and
internationally, and the transaction was oversubscribed multiple
times.
- Announced grant of European Patent no 3293201 by the European
Patent Office. The patent covers the use of ONCOS-102 in
combination with checkpoint inhibitors until 2036.
- Formed a new Scientific Advisory Board (SAB), consisting of a
group of world-renowned experts in immuno-oncology research and
drug development carefully selected to act as advisors to guide the
Targovax R&D strategy.
Øystein Soug, CEO commented: "As the end of 2020 is
approaching, we are entering a period of intensive data analysis
and reporting from our ongoing ONCOS-102 clinical program.
Important efficacy and immune marker readouts from our two
Targovax-sponsored ONCOS-102 trials in mesothelioma and melanoma
are due late in the year. In October we reported that the
pre-defined threshold for clinical benefit was met in the
colorectal cancer cohort of the ONCOS-102 and Imfinzi collaboration
trial. The second part of this trial has now been opened for
recruitment, and results are expected in about a year's time. As we
wrap up these phase I/II clinical trials, we are in parallel
planning the next steps for ONCOS-102 development and expanding our
pre-clinical pipeline to shape our future R&D programs."
Presentation
As a consequence of the Corona situation, there will not be a
physical presentation of the results. Instead, we invite to a live
webcast today at 10.00 CET. You can join the webcast here. It will
be possible to ask questions during the presentation.
Reporting material
Targovax 3Q 2020 - report
Targovax 3Q 2020 - presentation
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@targovax.com
Media enquires:
Andreas Tinglum - Corporate
Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no
IR enquires:
Kim Sutton Golodetz - LHA Investor
Relations (US)
Email: kgolodetz@lhai.com
Phone: +1 212-838-3777
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/targovax/r/targovax-asa--third-quarter-2020-results,c3231113
The following files are available for download:
https://mb.cision.com/Public/17093/3231113/bb18bc581d3ff8c5.pdf
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Targovax 3Q 2020 â€"
Presentation
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https://mb.cision.com/Public/17093/3231113/a9f6b846190af0f9.pdf
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Targovax 3Q 2020 â€"
Report
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SOURCE Targovax