Polaris, a new Nordic leader in Immuno-Oncology

12/06/2015 - 2 minutes

Immuno-oncology is a busy market to take on by yourself due to the existing fierce competition. Targovax and Oncos Therapeutics have decided to merge to earn a spot in the field. Polaris, the combined business, contemplates a private placement of around €15M to fund the freshly baked company.

Finland and Norway never were this close as Oncos and Targovax decided to join forces to create a major player within immune-oncology. The new company will be financially backed by institutional investors with HealthCap as the largest shareholder. After the transaction, the shareholders of Oncos will own 50% of Targovax, valued at €26,7M (NOK 236 million).

Strength is in numbers as they say, and both northern companies have interesting assets to bring to the joint Polaris. Oncos, on its behalf, offers ONCOS-102, ready to start its Phase II clinical trial. The candidate is an engineered human serotype 5 adenovirus indicated in several cancer profiles such as soft tissue sarcoma, mesothelioma or ovarian cancer. Targovax’s most advanced drug, on the other side,

This content is available exclusively to our paying members.

Our members receive the following benefits:

  • Unlock premium articles
  • Download our industry reports
  • Remove all banner ads
  • Access 1,500+ archived posts
  • Support our independent media
Already a member? Sign in
Do you want to remove this advert? Become a member!
Do you want to remove this advert? Become a member!