Oslo, Norway, 30 November 2017 - Targovax ASA (OSE: TRVX), a clinical stage company focused on developing immuno-oncology therapies to target solid tumors, announces that the extraordinary general meeting of Targovax ASA has today appointed Patrick Vink as the new chairman of the board of directors.

The previous chairman of the board, Jónas Einarsson, replaces Lars Lund-Roland as an ordinary member of the board of directors.

The board of directors of Targovax ASA will now have the following members:

• Patrick Vink (chairman);
• Jónas Einarsson;
• Bente-Lill Romøren;
• Per Samuelsson;
• Robert Burns;
• Johan Christenson;
• Eva-Lotta Coulter; and
• Diane Mary Mellett.

Patrick Vink, the new chairman of the board, commented: "I am thrilled to be joining the Board at such an important time for the Company. Targovax is building a pioneering pipeline of immunotherapy drugs focused on hard-to-treat cancers with a significant unmet medical need. I hope to bring valuable experience to the Board and guide the business into becoming a leading immuno-oncology company focused on the discovery, development and delivery of first-in-class treatments to those who need them most."

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

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

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