· Describing the role of ONCOS-102 in combination with aPD1 in aPD1 refractory,
advanced or unresectable melanoma

Oslo, Norway, 16 September 2021 - Targovax ASA (OSE: TRVX), a clinical stage
immuno-oncology company developing immune activators to target hard-to-treat
solid tumors, today announces that the poster "A pilot study of Engineered
Adenovirus ONCOS-102 in combination with pembrolizumab (pembro) in checkpoint
inhibitor refractory advanced or unresectable melanoma" is now available at the
ESMO congress website and on the Company's website.  The poster will be
presented as an e-poster at the European Society for Medical Oncology (ESMO)
congress by Dr Alexander N. Shoushtari, Memorial Sloan Kettering Cancer Center.

The poster presents the pilot study of ONCOS-102 in combination with
pembrolizumab (pembro) in checkpoint inhibitor refractory advanced or
unresectable melanoma. The poster concludes that co-administration of ONCOS-102
and pembrolizumab is safe and feasible for patients with melanomas progressing
on PD-1 blockade. Rapid clinical objective responses were seen in patients
treated both sequentially and in combination, and immune markers demonstrating
induction of beneficial tumor microenvironment changes support the role of ONCOS
-102 as a complementary treatment with aPD1 and other IO modalities.

E-poster    A pilot study of Engineered Adenovirus ONCOS-102 in combination
title:      with pembrolizumab (pembro) in checkpoint inhibitor refractory
            advanced or unresectable melanoma
E-poster    1083P
number:
Presenter:  Dr Alexander N. Shoushtari, Memorial Sloan Kettering Cancer Center

Please see the poster here: Targovax ESMO 2021
poster.pdf (https://mb.cision.com/Public/17093/3416046/b98c3308cbc28941.pdf)

***

For further information, please contact:
Oystein Soug, CEO
Phone: +47 906 56 525
Email: oystein.soug@targovax.com

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

About Targovax

Activating the patient's immune system to fight cancer
Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing
immune activators to target hard-to-treat solid tumors. Targovax aims to unlock
greater clinical benefits in cancer patients by deploying its multifunctional
platforms to target key immune regulators and oncogenic drivers. Targovax's
focus is to "activate the patient's immune system to fight cancer", thus
extending and transforming the lives of cancer patients. Targovax's pipeline
aims at different cancer indications, including melanoma, mesothelioma and
colorectal cancer. The company's product candidates are designed to harness the
patient's own immune system to fight the cancer, whilst also delivering a
favorable safety and tolerability profile.

Targovax's lead clinical candidate, ONCOS-102, is a genetically modified
oncolytic adenovirus, which has been engineered to selectively infect cancer
cells and activate the immune system to fight the cancer. On the back of very
encouraging clinical data in several indications, both in monotherapy and in
multiple combinations, the next development steps for ONCOS-102 will be to
further improve responses in melanoma patients resistant to or poorly responsive
to current standard of care.