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Chief Executive Officer (CEO). Dr. Wiklund has intimate knowledge of the company
and its technology having served as Chief Business Officer (CBO) and Chief
Financial Officer (CFO) of Targovax since 2017.
Dr. Erik Digman Wiklund said: “I am very excited to be entrusted with the
opportunity to lead Targovax into the next stage of development. The ONCOS-102
program has set us up with a unique, clinically validated platform system, and I
believe we are in a great position to expand beyond ONCOS-102 to build a
pipeline of novel, cutting edge product candidates. I am especially excited to
explore the potential for utilizing ONCOS as a delivery tool for novel RNA
concepts, where we intend to move into the emerging space of circular RNA that
has recently attracted significant interest from both industry and investors. In
parallel, we continue planning for the ONCOS-102 platform trial in anti
-PD1refractory melanoma, and we are in active discussions with prospective
collaboration partners who have complementary therapeutics that may act
synergistically with ONCOS-102”.
Targovax’s current CEO, Øystein Soug, will remain with the company following the
appointment of Dr. Wiklund. Mr. Soug will act as a special advisor and also
serve as interim CFO providing important strategic and management continuum for
the company.
Damian Marron, Chairman of the Board, commented the transition: “Øystein Soug
has effectively led the company through an important period executing the phase
1/2 development program of ONCOS-102, and we would like to place on record our
profound thanks for Øystein´s leadership and contribution to Targovax. Øystein´s
tenure has culminated in a strong data package for the lead asset ONCOS-102
demonstrating promising clinical efficacy and powerful immune activation in
several cancer forms and treatment combinations. We believe that these data
confirm the tremendous potential of ONCOS as a versatile delivery vector for
targeted anti-cancer payloads, and we wish to pursue this opportunity by
expanding our pipeline repertoire. With his deep scientific expertise and
intimate knowledge of Targovax and our technology, Erik is the ideal CEO to
capture this opportunity and lead the company into the future”.
The Board of Directors of Targovax has initiated a search process for a new CFO,
a position Øystein Soug will fill in the interim period. Mr. Soug was the CFO of
Targovax in 2015-2016, before he was appointed CEO, and has previously held the
position as CFO of Algeta ASA.
Øystein Soug commented: “It has been a privilege to lead Targovax through an
exciting and rewarding period. I fully support the Board’s decision to increase
the scientific focus and expand our pipeline to fully exploit the potential in
the ONCOS platform, and I am delighted that Erik has accepted to take over as
CEO to execute this vision. In my view, Erik, with his blend of deep scientific
competence and commercial experience, is the best candidate to lead Targovax
into the future.”
For further information, please contact:
Damian Marron, Chairman of the Board
Phone: +44 (0)7402 281573
Email: damian.marron@gmail.com
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@targovax.com
Oystein Soug, Special Advisor and interim CFO
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.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to disclosure requirements pursuant to
Section 5-12 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Renate Birkeli, Investor Relations, Targovax ASA.
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