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Targovax ASA strengthens management with Lubor Gaal as Chief Financial Officer

Oslo, Norway, 28 February 2022 – Targovax ASA (OSE: TRVX) a clinical-stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors, today announces that it has appointed Dr. Lubor Gaal as Chief Financial Officer (CFO), effective as of 7 March 2022.

Dr. Lubor Gaal is a seasoned industry executive with 25 years of experience working in large pharmaceutical and biotechnology companies in Europe and the USA. Most recently, he served as Managing Director and Head of Europe at Locust Walk, a global life science boutique investment bank. At Locust Walk, Dr. Gaal was responsible for overseeing all European strategic transactions, including financings, M&A and licensing. Before Locust Walk, he was Head of External Innovation and Licensing and a member of the R&D Management Committee at Almirall and Head of Europe Search and Evaluation for oncology at Bristol-Myers Squibb. Prior to that, Dr. Gaal held executive management positions at Neuro3d and Vectron Therapeutics, and global business development roles in Bayer. Dr. Gaal has a Ph.D. in molecular and cell biology from the University of California at Berkeley, USA.

In Targovax, Dr. Gaal´s core responsibilities will be to oversee all financial, investor relations and business development activities, as well as playing an integral role in defining and executing the corporate strategy.

Dr. Erik Digman Wiklund, CEO, commented:  “We are extremely pleased to have attracted an individual of Lubor´s caliber to Targovax. Lubor has deep experience in business development, commercial and advisory roles in both big pharma and development-stage biotech companies, and, importantly, brings access to his broad, international industry network into Targovax. With the addition of Lubor, we have now established a world-class management team ready to execute on our clinical program, pipeline development and corporate strategy.”

Dr. Lubor Gaal added: “Targovax has built a strong clinical portfolio, and I am very excited to join the team to help bring their innovative cancer immunotherapy pipeline to fruition. In my opinion, the class-leading clinical stage ONCOS-102 asset combined with the emerging circular RNA program puts Targovax in a unique position for success. I have previously had the pleasure to work with Targovax in an advisory role and experienced the quality and strength of both the science and the people, and now I really look forward to become a member of the organization.”

Dr. Gaal will join Targovax as CFO on 7 March 2022.

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536

Renate Birkeli, Investor Relations
Phone: +47 922 61 624

Media enquires:
Andreas Tinglum – Corporate Communications (Norway)
Phone: +47 9300 1773

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’s focus is to activate the patient’s immune system to fight cancer, and thereby bring benefit to cancer patients with few available treatment alternatives. Targovax is assessing its product candidates in different cancer indications, including melanoma, mesothelioma and colorectal cancer, and has demonstrated 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 as monotherapy and in immunotherapy and chemotherapy combinations, the next development step for ONCOS-102 will be to further improve immune activation and clinical response in melanoma patients resistant to PD1 checkpoint blockade.

Source: Targovax