Patent protection of ONCOS-102 in combination with chemotherapy in malignant
pleural mesothelioma in Europe


Oslo, 24 September 2021: Targovax ASA (OSE: TRVX), a clinical stage immuno
-oncology company developing immune activators to target hard-to-treat solid
tumors, today announce that the European Patent Office has granted EU Patent no
EP3402889. The patent covers the use of ONCOS-102 in combination with
chemotherapy in malignant pleural mesothelioma.

Torbjørn Furuseth, Chief Financial Officer of Targovax, said: "We are delighted
that this EU patent has been granted, further strengthening Targovax's
intellectual property portfolio. The 24-month data from our ONCOS-102 trial in
mesothelioma demonstrates encouraging survival data in this area of large
medical need. Securing this patent protects our innovative oncolytic
immunotherapy platform and strengthens our future market position."

Targovax's lead product candidate, ONCOS-102, is a genetically modified
oncolytic adenovirus, which has been engineered to selectively infect cancer
cells and activate the immune system. In June 2021, the 24-month follow-up in
the malignant pleural mesothelioma (MPM) trial showed that median overall
survival (mOS) for patients in first-line treatment with ONCOS-102 plus
chemotherapy will be between 21.9 and 25.0 months, which is very encouraging in
this patient population. For the first-line standard of care (SoC)-only control
group mOS is 13.5 months, which is similar to outcomes from previously reported
trials where patients received the same chemotherapy treatment. In this open
label phase I/II trial, ONCOS-102 has been tested in first and second (or later)
line MPM patients to assess safety, immune activation, and clinical efficacy of
the combination of ONCOS-102 to SoC chemotherapy (pemetrexed/cisplatin).

Based on these encouraging pre-clinical and clinical effects associated with
broad immune activation, the US FDA granted ONCOS-102 Fast Track designation for
MPM in February 2021. Targovax has previously received orphan drug designation
for MPM in both the US FDA and the European Medicines Agency.

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.