Targovax secures financing to develop cancer drug
Targovax, an oncology biopharma company, has secured NOK13m ($2.2m) Series A funding for the development of its lead candidate, TG01, a therapeutic vaccine for pancreatic cancer.
The financing is led by a consortium consisting Radium Hospital Research Foundation, Birk Venture, RO Invest and existing owners.
Targovax CEO Hanne Mette D. Kristensen said the funding will allow them to file an application and manufacture first GMP batches for clinical trials.
"We aim to recruit the first patients in clinical studies by the end of Q4, 2012," Kristensen added.
Birk Venture managing director Hans Ivar Robinson said they are happy to be part of the development of a new therapeutic approach for pancreatic cancer patients.
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