OSLO, June 11, 2018 /PRNewswire/ --
Recent clinical data is driving increased interest in the
industry for oncolytic viruses as an emerging class of cancer
therapeutics
Development of Targovax lead product, ONCOS-102, to be
prioritized in mesothelioma as launch indication as well as
checkpoint inhibitor combinations in cold tumors
Conference call
The company will host a conference call which will include a
Q&A session. CEO Øystein Soug, CMO Magnus Jäderberg and CFO
Erik Digman Wiklund will host the
conference call. Call in details can be found below:
Date: Tuesday 12 June 2018
Time: 08:30 CET
Call-in numbers:
Norway: +47-2100-2610
Sweden: +46-(0)-8-5033-6574
UK +44-(0)-330-336-9105
US: +1-323-794-2423
International: +44-(0)-330-336-9105
Access code: 9281577
Please make sure to dial in at least 5-10 minutes ahead to
complete your registration.
Targovax ASA ("Targovax" or "the Company"; OSE: TRVX), a
clinical stage company focused on developing and commercializing
immune activating oncology therapies to target, primarily,
treatment resistant solid tumors, today announces an update to its
clinical development strategy.
Targovax has previously reported encouraging proof-of-concept
data from clinical trials with both of its immune activator
platforms technologies; ONCOS, which uses genetically armed
oncolytic adenoviruses, and TG, a neo-antigen vaccine that targets
mutant RAS cancers. However, based on recent external clinical data
and market dynamics, Targovax has decided to prioritize and
strengthen the development focus on the ONCOS program.
Over the past 12 months, there has been clinical data released
from multiple external studies corroborating the potential of
oncolytic viruses as an important class of immune activating agents
that can boost the effect of other treatments, such as checkpoint
inhibitors. This notion is further strengthened by increased
partnering and M&A activity by major global pharmaceutical
companies, underscored by the acquisitions earlier this year of
Viralytics and Benevir by Merck and Johnson & Johnson,
respectively.
Furthermore, data presented at the American Society of Clinical
Oncology (ASCO) annual meeting on June
1-5 has fundamentally changed the development preconditions
for the TG program. Data from independent trials testing the
chemotherapy cocktail Folfirinox in resected pancreas cancer, the
lead indication for TG01, has demonstrated an improvement in median
overall survival of up to 2 years compared to the current standard
of care (gemcitabine and capecitabine). These results are great
news for patients suffering from this difficult-to-treat cancer. It
is expected that the Folfirinox treatment regimen will be quickly
adopted as a new standard of care in resected pancreatic cancer,
and it is already clear that that the design of Targovax's planned
randomized phase II trial of TG01 in combination with gemcitabine
and capecitabine is inadequate and that the trial will not start.
Although we are confident that TG01 will be active in combination
with any standard of care therapy, the new Folfirinox median
survival benchmark of close to 5 years means that such a
combination trial is not practically feasible for Targovax.
Targovax strongly believes in the potential of the TG platform
to treat mutant RAS cancers, and is encouraged by the signal of
efficacy seen in the recent phase I/II trial in resected pancreas
cancer. In addition, the company already has a phase I trial
underway in colorectal cancer with TG02, the second-generation
product from the TG program, combining with pembrolizumab. This
trial is expected to read out in 2019. In light of the new
Folfirinox data, the Company will together with its clinical
advisors reevaluate and reshape the development plans for TG, and
devise a strategy for how to best create value for both patients
and shareholders. A revised development strategy for the TG program
will be presented during the autumn.
The resources freed up by this decision will be allocated to
strengthen and speed up ONCOS development. In particular, Targovax
is currently looking into options to expand the ongoing trial in
mesothelioma, the target launch indication for ONCOS-102.
Øystein Soug, CEO of Targovax said "It is fortunate for
us that the emerging Folfirinox data in resected pancreatic cancer
was presented at ASCO already this year, as it gave us the
opportunity to reassess our trial design before committing to an
inadequate combination treatment. We are confident that our TG
vaccine has potential to benefit patients with mutant RAS cancers,
and will now reassess the TG development plan. ONCOS continues to
be our lead program, and we will further sharpen our focus to drive
ONCOS-102 forward with full force, and remain in the forefront of
oncolytic virus development"
About Targovax
Activating the patient's immune system to fight
cancer
Targovax (OSE:TRVX) is a clinical stage company focused on
developing and commercializing immune activators novel to target
hard to treat solid tumors. Immuno-oncology is currently one of the
fastest growing therapeutic fields in medicine.
Targovax's primary product candidate, ONCOS-102, is a
genetically modified oncolytic adenovirus, used as potential
multi-target, neo-antigen therapeutic cancer vaccines. It has been
engineered as an immune activator that selectively targets cancer
cells. In phase I trials it has demonstrated immune activation at
lesional level which was associated with clinical benefit.
ONCOS-102's lead indication is mesothelioma where the virus is
currently being developed in a phase II trial. A second trial, in
advanced melanoma, is expected to produce important proof of
concept data for checkpoint inhibitor refractory patients.
In addition, Targovax has a neo-antigen cancer vaccine under
development targeting tumors that express mutated forms of RAS. Key
proof of concept data for the TG platform from a clinical trial of
TG01 in resected pancreatic cancer patients showed encouraging
overall survival. A next generation product candidate, TG02 is
currently being combined with pembrolizumab in a phase I trial in
colorectal cancer.
Both platforms are protected by an extensive portfolio of IP,
know-how, and have the potential to yield multiple product
candidates.
CONTACT:
For further information, please contact:
Renate Birkeli, Investor
Relations
Phone: +47-922-61-624
Email: renate.birkeli@targovax.com
Media and IR enquires:
Andreas Tinglum - Corporate
Communications (Norway)
Phone: +47-9300-1773
Email: andreas.tinglum@corpcom.no
Simon Conway/Stephanie Cuthbert - FTI Consulting
(International)
Phone: +44-20-3727-1000
Email: Targovax@fticonsulting.com
This information was brought to you by Cision
http://news.cision.com
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SOURCE Targovax