Oslo, Norway, 3 May 2023 - Circio Holding ASA (formerly Targovax ASA*) (OSE:
TRVX) today announces that an abstract describing its circular RNA platform has
been accepted for poster presentation at the 2023 American Society of Gene +
Cell Therapy (ASGCT) Annual Meeting in Los Angeles, USA.

The abstract describes the development of Circio's proprietary circAde vector
system for therapeutic protein expression. Key elements necessary for circRNA
biogenesis were systematically screened and optimized to facilitate high yield
circRNA expression. Additionally, protein expression from the circAde vector was
found to outperform conventional mRNA-based designs, both in terms of protein
expression level and durability in vitro. Our results highlight the potential of
the circAde platform for the development of novel, more effective strategies for
the treatment of diseases in which durable transgene expression is desirable.

The poster is scheduled for presentation Thursday 18 May 2023 and will be
available on Circio's website (https://www.circio.com/en/oncos-oncolytic-virus
-publications-posters-and-oral-presentations/) after the presentation.

Poster      circAde, a Vector System for Spliceosome Dependent circRNA
title:      Biogenesis and Prolonged More Effective Protein Expression
Date and    Thursday 18 May 2023, 12:00- 13:30 PDT / 21:00-22:30 CEST
time:
Location:   The Los Angeles Convention Center in Los Angeles, CA
Poster      1095
number:
Presenter:  Eoghan O'Leary, Director RNA Research

About ASGCT

The American Society of Gene and Cell Therapy's (ASGCT) Annual Meeting is the
premier event for professionals in gene and cell therapy. The meeting is the
best place for people in the field to learn from the latest scientific research,
stay up to date on new technologies, and make career-advancing connections with
peers.

Originally designed as a venue for academic researchers to share their work, the
Annual Meeting has grown to serve a wide community encompassing clinicians, bio
-industry development, regulatory agencies, equipment manufacturers, patient
advocates, and more.

*) Targovax ASA, which is changing its company name to Circio Holding ASA, has
called for an AGM on 22 May 2023, to vote for the approval of the change of its
company name from Targovax ASA to Circio Holding ASA.

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com (erik.wiklund@targovax.com)

Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@circio.com (renate.birkeli@targovax.com)

Media enquires:
Andreas Tinglum - Corporate Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no

About Circio

Building next generation RNA therapeutics

Circio Holding ASA is a biotechnology company developing novel circular RNA and
immunotherapy medicines.

Building on deep experience in RNA biology, immunotherapy and viral vector
engineering, Circio has established a unique circular RNA (circRNA) platform to
develop novel circRNA medicines for cancer, vaccines, protein replacement for
genetic disorders and cell therapy. The proprietary circVec technology is based
on a modular genetic cassette design for efficient biogenesis of multifunctional
circRNA from DNA-based vectors that can be deployed for multiple purposes. The
most advanced therapeutic concept, circAde, builds on the companyŽs experience
in oncolytic viruses to use engineered adenoviruses for delivery of circRNA to
cancer cells. This unique approach is the only currently known circRNA program
targeting solid tumors. CircioŽs strategy is to develop novel circAde cancer
medicines in-house and seek partnerships in other therapeutic areas to
demonstrate the broad potential of the circVec platform and accelerate our
circRNA pipeline development. The circRNA R&D activities are being conducted by
the wholly owned subsidiary Circio AB based at the Karolinska Institute in
Stockholm, Sweden.

CircioŽs clinical immunotherapy programs are designed to activate the patientŽs
own immune system to fight cancer cells and provide benefit to patients with no
or few treatment alternatives. Lead candidate ONCOS-102 is an oncolytic
adenovirus (AdV5) carrying a genetic cassette for mRNA-based expression of the
cytokine GM-CSF, designed to selectively target cancer cells and drive an anti
-tumor immune response. ONCOS-102 has demonstrated an excellent safety profile,
strong immune responses and clinical efficacy in several cancer types in Phase
1/2 studies, both as monotherapy and in combinations with checkpoint inhibitors
or standard-of-care chemotherapy. Circio is aiming to progress ONCOS-102 into a
phase 2 trial in melanoma patients resistant to PD-1 checkpoint inhibitor
treatment, subject to additional external financing and/or partnerships to
support the program.

Circio's second clinical stage program is an immunotherapy targeting KRAS driver
mutations. Lead candidate TG01 has previously shown robust immune responses and
encouraging clinical benefit in surgically resected pancreatic cancer, and is
currently being tested in two clinical trials in RAS-mutated pancreatic cancer
and multiple myeloma in the USA and Norway. These studies are being run through
industry and academic collaborative networks, supported by prestigious research
grants from Innovation Norway and the Norwegian Research Council, creating broad
future optionality for the TG01 program at low cost to Circio.