A partnership has formed between Targovax and Oncos Therapeutics as they invest significant financial contributions and collaborate to form a Nordic leader in the immuno-oncology field.
The two companies, based in Oslo, Norway, and Helsinki, Finland, are clinical-stage biotechnology companies that both have broad pipelines for immuno-oncology industries. The modest field will grow during the next 10 years, and uniting these two companies will allow the Nordic companies to be more visible players with a better portfolio.
Combining the assets of both companies in their research and development departments will result in a new immuno-oncology leader in the Nordic region. This new company will feature financial backing from famous institutional investors and a solid senior management team. HealthCamp, a sector specialist, will be the largest shareholder of the new company and when the transaction is complete, Oncos shareholders will own approximately 50 percent of Targovax.
“The combination of Targovax and Oncos creates a major Nordic player within immuno-oncology,” Targovax Chief Executive Officer Gunnar Gårdemyr said. “We will have a wide array of programs in the pipeline and multiple shots at goal. The companies’ complementary technologies will provide a unique platform for the development of cutting-edge immunotherapies, and we will have a higher chance of success, thus offering investors an even more compelling opportunity. I am excited to lead an organization of highly skilled professionals with deep industry experience.”