Targovax to rebrand as Circio, an innovator in next generation circular RNA therapeutics

19 Apr 2023 20:32 CEST

· The name Circio encapsulates the strategic shift to focus on the innovative,
proprietary circular RNA (circRNA) platform
· circRNA has the potential to outperform mRNA, and Circio's pipeline is
initially targeting cancer, with plans to rapidly expand into vaccines and gene
therapy
· International patent applications covering Circio's vector delivery
technology and the therapeutic concept in cancer have been filed
· Circio Holding ASA will assume the Targovax ASA listing on Oslo stock
exchange under the ticker CRNA

Oslo, Norway, 19 April 2023 - Targovax ASA (OSE: TRVX) today announces its
intention to rebrand the company as Circio to reflect its strategic shift to
focus on accelerating development of its proprietary and innovative circular RNA
(circRNA) platform. Subject to shareholder approvals at the Annual General
Meeting to be held on 22 May 2023, Circio Holding ASA will assume the group's
listing on the Oslo stock exchange under the ticker CRNA.

"The name Circio reflects our ambition to become a leader in circRNA, as well as
the company´s heritage in immuno-oncology. CircRNA's promise is demonstrated by
an increasing number of circRNA financings, which accounted for more than 40% of
private RNA biotech deal value globally in 2021-22, and by major strategic
agreements by big pharma and biotech. With the rebranding to Circio, we are
aiming to take a clear position in the emerging circRNA field and maximize our
visibility and attractiveness to the global pharmaceutical industry and
specialist international investors," Damian Marron, Chairman, said.

 "circRNA offers important functional advantages over mRNA. Based on extensive
experience, our leading circRNA scientists have invented a clearly
differentiated vector system to generate circRNA in target tissues. Using this
strategy, we can turn host cells into circRNA factories, thus providing an
expanded toolbox of therapeutic options compared to current circRNA and mRNA
approaches. In less than 15 months, we have established robust technical proof
-of-concept for our approach, and key patent applications have been filed.
Therefore, now is the right time to clearly signal our evolution into a circRNA
-focused company" Dr. Erik Digman Wiklund, CEO, commented.

CircRNA is a naturally occurring class of RNA first reported in 2011 by two
current Circio employees: VP & Head of Research Dr. Thomas B Hansen and CEO Dr.
Erik D Wiklund. Due to their chemical structure, circRNAs are resistant to the
main cellular RNA degradation mechanisms, which dramatically prolongs their half
-life compared to linear mRNA. This feature can enable increased and more
durable protein expression, as well as novel regulatory functionalities. Circio
has an ambitious R&D strategy to engineer novel circRNA medicines for cancer,
vaccines, and genetic disorders. The circRNA R&D activities are being conducted
in the wholly owned subsidiary Circio AB based at the Karolinska Institute in
Stockholm, Sweden.

Circio's proprietary circVec platform is a modular genetic cassette delivering
instructions for generation of multifunctional circRNAs. The most advanced
therapeutic concept, circAde, builds on the company´s experience in oncolytic
viruses to use engineered adenoviruses for delivery of circRNA to cancer cells.
The circVec and circAde technology is protected by deep know-how and a rapidly
expanding IP portfolio.

Circio remains committed to the ONCOS and TG programs. The KRAS immunotherapy
TG01 is currently being tested in two clinical trials in pancreatic cancer and
multiple myeloma through collaborative networks in the USA and Norway. A phase 2
study design combining ONCOS-102 with next generation checkpoint inhibitors in
treatment resistant melanoma has been approved by the US FDA, and will, as
previously communicated, be initiated once additional funding or a partner has
been secured.

The renaming of Targovax ASA to Circio Holding ASA will be subject to
shareholder approval at the annual general meeting (AGM) to be held on 22 May
2023 and formally enacted following such approval.

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com

Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@circio.com

Media enquires:
Andreas Tinglum - Corporate Communications (Norway)
Phone: +47 9300 1773
Email: andreas.tinglum@corpcom.no

About Targovax / Circio Holding

Targovax (OSE:TRVX), which is seeking shareholder approval to change its name to
Circio Holdings ASA, is a clinical stage company developing immune activators to
target difficult-to-treat diseases. The company's mission is to deploy vector
-based technology to create a novel class of targeted, multi-functional circRNA
medicines. It has established a cutting-edge circular RNA (circRNA) program and
is collaborating with Prof Michael Uhlin and a team at the Karolinska Institutet
in Stockholm with the intent to develop next generation RNA therapeutics for
various applications.

The company also has a mutant RAS cancer vaccine program, with two collaborative
clinical trials underway in the USA and Norway. It is currently looking at
options for the financing of a phase 2 study for ONCOS-102, a genetically
modified oncolytic adenovirus.

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