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23.02.2021 kl 23:47 3557

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Continued survival benefit in Targovax's ONCOS-102 trial in mesothelioma at the 21-month follow-up
· Median Overall Survival (mOS) has still not been met for randomized first-line
patients receiving ONCOS-102 plus chemotherapy
· The 21-month analysis shows that mOS will be at least 20.5 months for
randomized first-line patients receiving ONCOS-102 plus chemotherapy, compared
to mOS of 13.5 months in the chemotherapy-only control group

Oslo, Norway, 23 February 2021 - Targovax ASA (OSE: TRVX), a clinical stage
immuno-oncology company developing immune activators to target hard-to-treat
solid tumors, today announces 21-month follow-up data from the randomized phase
I/II trial of ONCOS-102 in combination with standard of care chemotherapy in
malignant pleural mesothelioma (MPM).

The trial is an open label, exploratory phase I/II trial adding ONCOS-102 to
standard of care (SoC) chemotherapy (pemetrexed/cisplatin) in first and second
(and later) line MPM to assess safety, immune activation and clinical efficacy
vs SoC only. In total, 31 patients have been treated in the trial, with 20
patients in the experimental group receiving the ONCOS-102 and chemotherapy
combination, and 11 patients in a control group receiving chemotherapy only. The
31 patients have now completed the 21-month follow-up. Immunological data and 12
-month survival rate were reported in June 2020 (see link
here (https://www.targovax.com/en/targovaxs-oncos-102-mesothelioma-12-month-data
-powerfully-demonstrate-broad-immune-activation-linked-to-clinical-benefit/)),
and 18-month survival follow-up in November 2020 (see link
here (https://www.targovax.com/en/targovax-demonstrates-encouraging-survival
-data-for-oncos-102-in-mesothelioma/)).

At the 21-month follow-up, half of the patients in the first-line ONCOS-102
-treated group of the randomized part of the trial were still alive, and mOS was
not yet reached. Based on current survival data mOS will be 20.5 months or
longer. For the first-line SoC-only control group mOS is 13.5 months, which is
similar to outcomes from previously reported trials where patients received the
same chemotherapy treatment[1].

Dr. Magnus Jäderberg, Chief Medical Officer of Targovax, said: "It is most
encouraging that survival continues to track so well in the ONCOS-102-treated
first line group. We have earlier seen and reported how ONCOS-102 drives
profound remodeling of the tumor microenvironment. It is now becoming clear that
this is translating into long-term survival benefit. The survival data also
holds up well to the recently FDA-approved ipilimumab and nivolumab combination,
confirming the relevance of immunotherapy in mesothelioma and strongly
suggesting combining ONCOS-102 with checkpoint inhibition could further boost
efficacy in this highly malignant and difficult-to-treat cancer."

For further information, please contact:
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

IR enquires:
Kim Sutton Golodetz - LHA Investor Relations (US)
Email: kgolodetz@lhai.com
Phone: +1 212-838-3777

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 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 with targeted
therapeutic cancer immunotherapies. Targovax's pipeline aims at different cancer
indications, including melanoma, mesothelioma and colorectal cancer. The
products 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 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. On the back of very
encouraging data in several indications, in monotherapy and in multiple
combination, the next development steps for ONCOS-102 will involve a clinical
trial with registration intent in checkpoint inhibitor refractory mela

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