Targovax, a Norway-based cancer vaccine developer, has raised $3.6m. The Norwegian Research Council’s BIA programme provided $2.3m, with the remainder coming from existing and new investors, including the Radium Hospital Research Foundation, Algot Invest and Trygve Schiørbeck.
In January last year, Targovax raised just short of 13 NOK ($2.2m) from venture capital firm Birk Venture, RO Invest and the Norwegian Radium Hospital’s research foundation.
In addition to the $2.2m, Targovax has disclosed that a further $1m has been made available for the next funding round.
Founded in 2010, Targovax’s cancer vaccines are based on research into RASmutations in the Norwegian Radium Hospital and Norsk Hydro in the late 1990s, according to news provider Fierce Biotech.