Targovax Secures NOK13M in Funding

Targovax, a Lysaker close to Oslo, Norway-based oncology biopharma company, has secured NOK13m (approximately $2.2m) in funding.

Backers include the Radium Hospital Research Foundation, Birk Venture, RO Invest and existing owners.

The company intends to use the capital for further development of its lead candidate, TG01, a therapeutic vaccine for pancreatic cancer. This funding, which follows the award of an Innovation Norway grant of NOK9m in early December 2011, will enable Targovax to file an application and manufacture first GMP batches for clinical trials.

Founded in October 2010 and led by CEO Hanne Mette D. Kristensen, Targovax has already received Orphan Drug Status for TG01 in EU and USA.



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