Oslo, Norway, 28 April 2022 - Targovax ASA (OSE: TRVX), a clinical stage immuno
-oncology company developing immune activators to target hard-to-treat solid
tumors, today announces that two ONCOS-102 abstracts have been accepted for
poster presentation at the American Society of Clinical Oncology (ASCO) Annual
Meeting in Chicago 3-7 June 2022.

The abstracts will be released on the ASCO website 26 May 17:00 CEST
(https://meetings.asco.org/meetings/2022-asco-annual-meeting/288/program
-guide/scheduled-sessions). The posters are scheduled for presentation during
the ASCO congress 3 - 7 June 2022.

Poster      Final survival outcomes and immune biomarker analysis of a
title:      randomized, open-label, phase I/II study combining oncolytic
            adenovirus ONCOS-102 with pemetrexed/cisplatin (P/C) in patients
            with unresectable malignant pleural mesothelioma (MPM)
Presenter:  Dr Santiago Ponce, Medical Oncology, Hospital 12 Octubre, Madrid,
            Spain

Poster      Study to evaluate intraperitoneal (IP) ONCOS-102 with systemic
title:      durvalumab in patients with peritoneal disease who have epithelial
            ovarian (OC) or metastatic colorectal cancer (CRC): Phase 2
            results
Presenter:  Dr Dmitriy Zamarin, Memorial Sloan Kettering Cancer Center, New
            York, USA

***

About ASCO

American Society of Clinical Oncology Annual Meeting, ASCO 2022 will be held in
McCormick Place, Chicago, Illinois, United States between 03 - 07 June 2022.

The 2022 ASCO Annual Meeting Program will offer presentations on the latest
research in cancer care. This year's program will feature sessions complementing
the meeting's theme: Advancing Equitable Cancer Care Through Innovation.

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'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.

Building on successful phase 1/2 studies demonstrating clinical benefit and
providing deep mechanistic insights, Targovax is expanding its ONCOS program
into delivery of circular RNA and targeting KRAS mutant cancers with the aim of
establishing a platform for development of a rich pipeline of innovative future
immunotherapy product candidates.