Gratulerer med ny sjefsjobb Torbjørn.

Targovax announces resignation of Chief Financial Officer, Torbjørn Furuseth

Oslo, Norway 9 July 2021 - Targovax ASA (OSE: TRVX), a clinical stage immune
-oncology company developing immune activators to target hard-to-treat solid
tumors, today announces that Torbjørn Furuseth has notified the Company that he
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is resigning from his position as Chief Financial Officer to take a CEO position
with a cancer diagnostics company.

Oystein Soug, CEO of Targovax, said: “I would like to thank Torbjørn for his
leadership, dedicated work and his valuable contributions to Targovax. He has
played an important role in developing and executing our company’s strategy.
Torbjørn’s belief in the technology and future of Targovax is strong but taking
a CEO role is a natural next step for him. On behalf of the Board and the
Company, I wish him success in his new endeavor.”

Dr Furuseth will continue his work and responsibilities through September 30,
2021. The Company will find a replacement to continue the execution of
Targovax’s financial strategies.

For further information, please contact:
Oystein Soug, CEO
Phone: +47 906 56 525
Email: oystein.soug@targovax.com

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