Targovax ASA : appoints Ola Melin as Head of Manufacturing

Oslo, Norway, 30 September 2021 - Targovax ASA (OSE: TRVX) announces the
appointment of Ola Melin as Head of Manufacturing. He will take a leading role
in driving Targovax's Chemistry, Manufacturing and Controls (CMC) program
forward. Ola will be a member of Targovax's management team.

Ola Melin joins Targovax with over 25 years' experience in Biologics
development, manufacturing, and supply, most recently as Director of Technical
Operations at OxThera AB, where he was responsible for clinical supply and for
establishing a commercially ready manufacturing process and supply chain. Prior
to that Ola spent eighteen years at Biovitrum and Sobi AB, where he held senior
leadership roles as Head of External Manufacturing and Head of Product Supply,
as well as other CMC positions. Ola started his career with manufacturing
process development at Pharmacia. Ola has studied Biochemical engineering at
Mälardalen University.

Øystein Soug, CEO, commented:  "It is with great enthusiasm we welcome Ola Melin
to Targovax! With his broad experience with supply chain, clinical and
commercial manufacturing, and his previous experience in launching products, he
will bring important and valuable knowledge to Targovax. His CMC experience
within the field of biologics development and manufacturing will contribute
significantly to the execution of Targovax's strategic plan."

Ola Melin added: "I am excited to join Targovax and be a part of the next
development steps for its's lead clinical candidate ONCOS-102. The class-leading
data in CPI refractory advanced melanoma, together with powerful immune
activation, makes this an exciting product candidate and I look forward to
contributing to the further development of this promising novel immune activator
therapy that could make a huge difference to those diagnosed with cancer."

Ola Melin will commence as Head of Manufacturing on 1[st] October.

***

For further information, please contact:
Oystein Soug, CEO
Phone: [phone]
Email: [e-mail]

Renate Birkeli, Investor Relations
Phone: [phone]
Email: [e-mail]

Media enquires:
Andreas Tinglum - Corporate Communications (Norway)
Phone: [phone]
Email: [e-mail]

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 aims to unlock
greater clinical benefits in cancer patients by deploying its multifunctional
platforms to target key immune regulators and oncogenic drivers. Targovax's
focus is to "activate the patient's immune system to fight cancer", thus
extending and transforming the lives of cancer patients. Targovax's pipeline
aims at different cancer indications, including melanoma, mesothelioma and
colorectal cancer. The company's product candidates are designed to harness the
patient's own immune system to fight the cancer, whilst also delivering 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 in monotherapy and in
multiple combinations, the next development steps for ONCOS-102 will be to
further improve responses in melanoma patients resistant to or poorly responsive
to current standard of care.

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