HealthCap V L.P., managed by HealthCap V GP SA ("HealthCap") and OFP V Advisor
AB on behalf of OFCO Club V ("OFCO Club" and together with HealthCap, whom are
closely associated, the "Consolidated Parties")  have on Friday 17 February
2023, sold 1,111,352 and 16,925 shares in Targovax ASA, respectively, and
thereby downwards crossed the 5% major shareholding threshold. Following the
transaction, HealthCap controls a holding of 8,682,362 shares, while OFCO Club
controls a holding of 131'049 shares in Targovax ASA. The Consolidated Parties
aggregated holding is thereby 8,813,411 shares, equal to 4.68% of the share
capital and voting rights in Targovax ASA. 

This announcement is made pursuant to section 4-2 of the Norwegian Securities
Trading Act.