Targovax ASA: ASCO abstract released

Oslo, Norway, 18 May 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 the abstract "A Phase I/II trial of TG01/GM-CSF and gemcitabine as adjuvant therapy for treating patients with resected RAS-mutant adenocarcinoma of the pancreas" will be presented at the American Society of Clinical Oncology Annual Meeting 2017 (ASCO). The abstract includes clinical data from the phase I/II clinical trial evaluating TG01 in resected pancreatic cancer and the data will be presented at ASCO at McCormick Place in Chicago, Illinois, on 3 June 2017.

Poster Session: Gastrointestinal (Noncolorectal) Cancer: 8:00 AM-11:30 AM CDT.
Abstract Number: 4119

The abstract can be found on http://abstracts.asco.org/.

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For further information, please contact:
Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: [email protected]

Media and IR enquires:
Jan Petter Stiff - Crux Advisers (Norway)
Phone: +47 995 13 891
Email: [email protected]

Julia Phillips/Simon Conway - FTI Consulting (International)
Phone: +44 20 3727 1000
Email: [email protected]

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 an immune activator that selectively target cancer cells. In phase I it has shown to immune activate at lesional level which was associated with clinical benefit. We expect proof of concept data for this platform in 2017 from a clinical trial of lead product 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 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, we have other products in early stages of development.

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

About ASCO Annual Meeting 2017

The 2017 ASCO Annual Meeting is organized by American Society Of Clinical Oncology (ASCO) and will be held during Jun 2 - 6, 2017 at McCormick Place - Chicago, Illinois, United States of America.

The Annual Meeting brings together more than 30,000 oncology professionals from around the world to discuss state-of-the-art treatment modalities, new therapies, and ongoing controversies in the field.

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