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Circio Holding (CRNA) investor relations material

Circio Holding R&D Update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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R&D Update summary24 Nov, 2025

Platform technology and R&D progress

  • circVec generation 4.0 delivers a 50% increase in protein expression over generation 3, with validated improvements in heart, eye (7x), and CNS tissues, and reduced toxicity compared to conventional AAVs and mRNA approaches.

  • Achieved up to 40-fold higher protein expression in heart-targeted AAVs and demonstrated over six months of durable in vivo expression using DNA vectors and circVec constructs.

  • circVec technology shows higher tissue specificity, particularly heart-centric and CNS expression, and lower cellular stress compared to mRNA vectors.

  • Enhanced expression and better target selectivity confirmed in vivo, expanding potential therapeutic applications to heart, eye, and CNS diseases.

  • Reduced toxicity observed with circVec-AAV, with less UPR pathway activation despite higher expression.

Clinical and pipeline updates

  • Lead program targets Danon disease, aiming for lower AAV doses and improved safety; efficacy data in mouse models expected by end of next year, with animal PoC for Danon and wet AMD anticipated in 2026.

  • Pipeline includes heart, eye (wet AMD), and CNS indications, with ongoing optimization and preclinical testing of therapeutic proteins.

  • In vivo cell therapy program shows six-month expression in spleen and is advancing toward targeted T-cell delivery for oncology applications, with key readouts anticipated in 2026.

  • TG01 immuno-oncology program for RAS-mutated cancers continues via external collaborations, with ongoing clinical trials in Norway and the USA.

  • TG01 uses a peptide vaccine adjuvanted by STIMULON QS-21 licensed from Agenus Inc.

Business development and partnerships

  • Entered a fully funded R&D collaboration with a major global pharmaceutical company to test circVec AAV in a specific disease area, validating the technology and opening new partnership opportunities.

  • Actively seeking additional R&D collaborations, especially for T-cell targeted delivery and engineered AAV capsids for tissue-specific targeting.

  • Recent industry deals highlight strong pharma interest and significant transaction values in AAV, circRNA, and in vivo CAR therapy spaces.

  • Ongoing and new R&D collaborations, including a feasibility study with a global pharma, may lead to licensing opportunities.

  • Rich pipeline of R&D and business development milestones expected over the next 12 months.

What novel commercial possibilities from pharma deal?
Future financing strategy beyond Q1 2026?
CircVec CNS development strategy
Quantify AAV dose reduction potential
circVec DNA advantage in in vivo CAR therapy?
Strategy for targeted delivery partnerships
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Frequently asked questions

Circio Holding ASA, formerly known as Targovax ASA, is a biotechnology company primarily engaged in the development of innovative circular RNA (circRNA) and immunotherapy medicines. The company has pioneered a distinctive circRNA platform, aiming to create novel circRNA medicines for a variety of applications including rare diseases, vaccines, cancer treatments, protein replacement therapies, and cell therapy. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange under the ticker symbol CRNA.

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