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Innovation Norway awards NOK 8.2 mn grant to Targovax for development of TG mutant RAS vaccine

Oslo, Norway
Friday, January 14, 2022, 14:00 Hrs  [IST]

Targovax ASA, a clinical stage immuno-oncology company, announces that Innovation Norway has awarded Targovax an NOK 8.2 million grant to accelerate product development activities related to the company’s TG mutant RAS vaccine programme and planned clinical trials.

Kristin Willoch Haugen, Director of Innovation Norway Oslo Viken, commented: “Through this project Targovax and their partners aim to solve an important part of the great, international societal challenge that cancer represents. Innovation Norway has awarded a significant grant to reduce the development risk in the project, which we believe has a high level of innovation and a great potential for value creation in Norway. The Research Council of Norway has also contributed with funding to this exciting project. ”

Dr. Erik Digman Wiklund, CEO of Targovax, added: “We are very pleased to be awarded yet another prestigious grant towards our mutant RAS vaccines, this time from Innovation Norway. Targovax’s TG programme is set up to develop innovative novel immunotherapies that target critical mutations in KRAS, a key driver of around 30% of all cancers. With the support from Innovation Norway, we have now secured a total of up to NOK 18 million in grant funding, which will allow us to move the TG programme forward faster and more broadly, and thus bring benefit to a patient group with poor prognosis and few available treatment options.”

Targovax is a clinical stage immuno-oncology company developing immune activators to target hard-to-treat solid tumours. Targovax aims to unlock greater clinical benefits in cancer patients by deploying its multifunctional platforms to target key immune regulators and oncogenic drivers.

 

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