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An abstract on the optimal dosing-schedule of ONCOS-102 based on full clinical
and biomarker analyses in the PD-1 resistant melanoma phase 1b study has been
selected for oral presentation at the Society for Immunotherapy in Cancer (SITC)
annual meeting

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The SITC annual meeting is considered the premier international cancer
immunotherapy conference, and will be held in Boston 8-12 November 2022

Oslo, Norway, 5 October 2022 - Targovax ASA (OSE: TRVX), a clinical-stage immuno
-oncology company developing immune activators to target solid tumors, today
announces that the SITC abstract review committee has selected the ONCOS-102
phase 1b study in PD-1 resistant advanced melanoma for oral presentation at the
annual meeting to be held in November in Boston.

PD-1 checkpoint inhibitor (CPI) resistant advanced melanoma is a major unmet
medical need affecting up to 25,000 patients per year in the major markets. The
diagnosis is associated with a poor prognosis and there are currently no
approved treatment options available.

In an earlier topline data release from this Phase 1b study, Targovax reported
an encouraging objective response rate (ORR) of 35% for the combination of ONCOS
-102 and the PD-1 CPI Keytruda. At the SITC conference, further translational
biomarker analyses and the impact of dosing regimen on systemic activity and
immune responses will be presented.

Title of the abstract, to be presented both orally and as a poster:

Presenter:  Dr. Alexander Shoushtari, Principal Investigator, Memorial Sloan
            Kettering Cancer Center, NYC
Title:      Repeat dosing of oncolytic adenovirus ONCOS-102 is associated with
            enhanced and persistent immune responses and improved systemic
            activity in anti-PD-1 resistant/refractory (r/r) melanoma
Date:       10 November, 2022
Time:       7pm ET

Dr. Lone Ottesen, Chief Medical Officer of Targovax ASA, said: "It is a great
honor to have our study selected for an oral presentation at the SITC annual
meeting, which is considered the most prestigious scientific forum in cancer
immunotherapy. The podium presentation will be given by principal investigator
Dr. Alexander Shoushtari from the Memorial Sloan Kettering Cancer Center in New
York, and provides an excellent opportunity to showcase the strong ONCOS-102
melanoma data package to a broad, international audience of academic leaders".

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 multiple myeloma, 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 against the tumor. Following very
encouraging clinical data in several indications, both as monotherapy and in
combinations, ONCOS-102 is progressing into a randomized phase 2 trial in
melanoma patients resistant to PD-1 checkpoint inhibitor treatment.

Building on successful studies demonstrating clinical efficacy and providing
deep mechanistic insights, the Targovax platform is being expanded into delivery
of circular RNA (circRNA). In addition, Targovax has a KRAS immunotherapy
program, with lead cancer vaccine candidate, TG01, due to enter the clinic in
the second half of 2022. This provides Targovax with a rich pipeline of
innovative future immunotherapy product candidates to follow ONCOS-102.