Oslo, 11 February 2021 - Targovax ASA, a clinical stage immuno-oncology company
developing immune activators to target hard-to-treat solid tumors, will host a

virtual Capital Markets Day for investors, analysts and journalists on 18

February 2021 at 2:30 PM CET. The Capital Markets Day will feature presentations

from executive management and Alexander Shousthari, Medical Oncologist at

Memorial Sloan Kettering Cancer Center, and will be webcast live and accessible

at https://www.targovax.com/en/capital-markets-day-2021/

Based on the strong clinical data that are now generated on ONCOS-102, Targovax

has a solid fundament to move into late stage clinical development. We also have

a broader pipeline of preclinical assets that could create a broader horizon of

opportunities in the future. The Capital Markets day will feature presentations

updating the market on these aspects.

The agenda will be as follows:

Agenda & speakers

2:30-2:40 PM Welcome Øystein Soug, CEO, Targovax

2:40-3:25 PM Anti-PD1 refractory melanoma Alexander N. Shoushtari, MD

3:25-3:45 PM ONCOS-102 development program Magnus Jäderberg, CMO, Targovax

5 minutes break

3:50-4:05 PM Immune activation Victor Levitsky, CSO, Targovax

4:05-4:15 PM Preclinical pipeline update Victor Levitsky, CSO, Targovax

4:15-4:25 PM 4Q update Torbjørn Furuseth, CFO, Targovax

4:25 PM Closing remarks Øystein Soug, CEO, Targovax

The presentations will be made available on the companyŽs website after the end

of the meeting. Questions can be submitted through the webcast throughout the

event.

Biography:

Dr. Alexander Shoushtari is renowned expert in melanoma, with a research focus

on uveal and mucosal melanomas. He is part of several immunotherapy trials at

MSKCC and Dr. Alexander Shoushtari is the Principal Investigator on the ONCOS

-102 phase I trial in CPI refractory advanced melanoma. He is a member of the

research team of Dr. Jedd Wolchok, MD, PhD, Chief, Melanoma and

Immunotherapeutics Service at the Memorial Sloan Kettering Cancer Center.

***

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. The Group'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.

Further, the products are well positioned for combinations with other treatment

approaches, including other immunotherapies, surgery, radiation and

chemotherapy.

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. ONCOS-102 is currently

being tested in mesothelioma, melanoma and colorectal cancer and has already

shown promising clinical results both as monotherapy and in combination with

chemotherapy, and a checkpoint inhibitor.

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