Oslo, Norway, 16 May 2023 - Circio Holding ASA (formerly Targovax ASA*) (OSE:
TRVX)

Circio's management and Board of Directors today held a live webcast. In the
webcast, CEO Erik D. Wiklund provided a brief company presentation, together
with an update on the circRNA-platform, followed by a Q&A session with
representatives from the Compensation and Nomination Committee regarding the
upcoming annual general meeting (AGM) and proposed resolutions.

Circio Brief company
update.pdf (https://mb.cision.com/Public/17093/3770779/b9489a94c54dce71.pdf)

Link to recording of webcast (https://bit.ly/41FdRhV)

The material is also available on
www.circio.com (https://www.circio.com/en/presentations/).

*) 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.