Context
Targovax is a clinical stage immuno-oncology group developing oncolytic viruses to target hard-to-treat solid tumours.
The Company’s lead product candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect and replicate in cancer cells. It activates the immune system to generate tumour-specific immune responses.
Targovax has established collaborations with major pharmaceuticals companies and highly recognized academic centers, including Merck & Co, AstraZeneca, Cancer Research Institute, and the Ludwig Cancer Research.
In June 2020, Targovax reported 12-month data for its ONCOS-102 program in mesothelioma, which is currently being tested in a randomized phase I/II study.
This capital raise will be used to finance ongoing ONCOS-102 clinical studies (mesothelioma study to completion, part 2 of a melanoma study, a colorectal cancer study) and the manufacturing of clinical material for ONCOS-102 trials. It will also expand the current pipeline with pre-clinical data on next-generation ONCOS viruses, novel Mutant RAS (MutRAS) projects and ONCOS constructs.
About Targovax
Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing oncolytic viruses to target hard-to-treat solid tumors. Targovax’ lead product 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.
ONCOS-102 is currently being tested in mesothelioma, melanoma and peritoneal malignancies and has already shown promising clinical results both as monotherapy and in combination with chemotherapy, and checkpoint inhibitors.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Joint Bookrunner to Targovax on its NOK 75 million Follow-on Offering
Bryan, Garnier & Co acted as Joint Bookrunner on this NOK 75 million Follow-on Offering, alongside DNB and Carnegie.
Targovax raised NOK 75m from diversified Tier-1 European and US biotech specialists and institutional generalists, following meetings in June and September 2020.
The placement attracted strong interest from existing shareholders and new institutional investors, both in the Nordics and internationally, and the book was multiple times covered.
The transaction was priced at NOK 7.25 after a strong rally of more than 45% over the last 3 months prior to pricing.
This eight capital raise for a biotech in 2020 marks another landmark transaction for Bryan, Garnier & Co’s Equity Capital Markets team.
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