Date: 2013-05-30
Type of information: Grant
Company: Targovax (Norway)
Investors: The Radium Hospital Research Foundation (Norway) Algot Ivest, Trygve Schiørbeck, new and existing owners
Amount: NOK 20 million (€2.65 million)
Funding type: grant, financing round
Planned used: The funding will be used for clinical investigation and further development of the TG01 therapeutic vaccine against pancreatic cancer.
Others: Targovax has received 12.6MNOK in a public grant from the Norwegian Research council. The company has also recently completed a capital increase ensuring 7.5 MNOK in private capital. The funding will be used for clinical investigation and further development of the TG01 therapeutic vaccine against pancreatic cancer. Last January 31, Targovax has announced that the first patient has been included in a phase I/II clinical study with the therapeutic cancer vaccine TG01 in operable pancreatic cancer.
Targovax has been granted up to 12.6 MNOK (2.3 MUSD) from the Norwegian Research council\'s BIA-programme in competition with high quality projects across all industries. The project focuses on good and improved formulations of TG01 with adjuvant. The grant is announced just after a capital increase in the company, securing 7.5 MNOK (1.4 MUSD) from The Radium Hospital Research Foundation, Algot Ivest, Trygve Schiørbeck, and new and existing owners. A further 12.5 MNOK is committed from current owners.
Therapeutic area: Cancer - Oncology
