Targovax ASA: Completion of subsequent offering\, registration of share capital increase
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT INFORMATION AT THE END OF THE ANNOUNCEMENT
Oslo, 24 July 2017: Reference is made to the stock exchange announcements dated 17 July 2017 regarding the result of the subsequent offering of up to 2,000,000 new shares (the “Offer Shares”) in Targovax ASA (“Targovax” or the “Company”) at a subscription price of NOK 20 per share (the “Subsequent Offering”).
The share capital increase pertaining to the Subsequent Offering has now been registered in the Norwegian Register of Business Enterprises. The new share capital of the Company is NOK 5,256,438.10 divided into 52,564,381 Shares, with each Share having a nominal value of NOK 0.10.
The new shares issued in the Subsequent Offering are listed on Oslo Børs.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further information, please contact:
Erik Digman Wiklund, CFO
Phone: +47 413 33 563
Email: erik.wiklund@targovax.com
ABOUT TARGOVAX:
Arming the patient’s immune system to fight cancer.
Targovax is a clinical stage company focused on developing
and commercializing novel immuno-oncology therapies to
target, primarily, treatment-resistant solid tumors. Immuno-
oncology is currently one of the fastest growing therapeutic
fields in medicine.
The Company’s development pipeline is based on two novel
proprietary platforms:
The first platform, ONCOS, uses oncolytic viruses, an
emerging class of biological therapy. ONCOS exclusively uses
an adenovirus that has been engineered to be an immune
activator that selectively target cancer cells. In phase I
it has shown to immune activate at lesional level which was
associated with clinical benefit. We expect proof of concept
data for this platform in 2017 from a clinical trial of lead
product ONCOS-102 in patients with refractory malignant
melanoma.
The second platform, TG peptides (TG), solely targets tumors
that express mutated forms of the RAS protein. Mutations to
this protein are common in many cancers and are known to
drive aggressive disease progression and treatment
resistance. There is a high unmet medical need for therapies
that are effective against tumors that express these
mutations. The TG platform’s therapeutic potential stems
from its ability to enable a patient’s immune system to
identify and then destroy tumors bearing any RAS mutations.
In early 2017, key proof of concept data for the TG platform
from a clinical trial of TG01 in resected pancreatic cancer
patients showed encouraging overall survival and will give
guidance for the future clinical development of this
platform.
Targovax’ development pipeline has three novel therapeutic
candidates in clinical development covering six indications.
Both platforms are protected by an extensive portfolio of IP
and know-how and have the potential to yield multiple
product candidates in a cost-effective manner. Additionally,
we have other products in early stages of development.
In July 2016, the Company listed its shares on Oslo Axess.
In March 2017, the shares were upgraded to Oslo Børs, the
main Oslo Stock Exchange.
This information is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
