Targovax, a clinical stage company focused on developing and commercialising immuno-oncology therapies to target, primarily, treatment-resistant solid tumors, has announced that Gunnar Gårdemyr, the Company's Chief Executive Officer, has stepped down. The Board of Directors has appointed Oystein Soug, currently the Company's Chief Financial Officer, to the role of Chief Executive Officer, effective immediately. The Company has initiated a search for a new Chief Financial Officer.