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to employees of the Company. A total of 585,000 options for shares of the
Company were distributed amongst members of the executive management and a total
of 585,000 options for shares of the Company were distributed amongst other
employees.
Each option, when exercised, will give the right to acquire one share in the
Company. The options are granted without consideration. Pursuant to the vesting
schedule, 25% of the options will vest 12 months after the day of grant (as long
as the option holder is still employed). Thereafter, 1/36 of the remaining
options will vest each month as long as the option holder is still employed,
with the first 1/36 vesting 13 months after the day of grant. The exercise price
of the options is NOK 2.18. The exercise price is equal to the volume weighted
average trading price of the shares of the Company on Oslo Børs on the date of
the grant. Options that have not been exercised will lapse 7 years after the
date of grant.
Primary insiders in Targovax ASA have received the following options grants,
according to the terms described above:
Chief Executive Officer Erik Digman Wiklund has been granted 200,000 share
options. Following the grant, he holds 100,000 shares and 1,200,000 options in
the Company.
Chief Development Officer Lone Ottesen has been granted 140,000 share options.
Following the grant, she holds 47,000 shares and 490,000 options in the Company.
VP Regulatory Affairs Ingunn Munch Lindvig has been granted 125,000 share
options. Following the grant, she holds 10,000 shares and 392,000 options in the
Company.
Head of Manufacturing Ola Melin has been granted 75,000 share options. Following
the grant, he holds 50,000 shares and 325,000 options in the Company.
Chief Scientific Officer Victor Levitsky has been granted 45,000 share options.
Following the grant, he holds 10,000 shares and 545,000 options in the Company.
PDMR notifications
23.12.21.pdf (https://mb.cision.com/Public/17093/3478198/9ed9f9d8375a4dc8.pdf)
For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@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.
Kilde