Evaxion Reinforces Milestone Timeline and Gives Shareholder Replace

COPENHAGEN, Denmark, July 03, 2024 (GLOBE NEWSWIRE) — Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Firm”), a clinical-stage TechBio firm specializing in creating AI-Immunology™ powered vaccines, right this moment issued the next letter to shareholders.

Expensive Fellow Shareholders of Evaxion,

The primary half of 2024 has been off to a really productive begin to the yr for Evaxion. We have now launched our refined technique, and we’re effectively positioned for worth realization by way of our three-pronged enterprise mannequin specializing in vaccine goal discovery collaborations utilizing our core AI-Immunology™ platform (Targets), advancing our pipeline of vaccine candidates (Pipeline) and utilizing our core knowledge and predictive capabilities to develop responder fashions (Responders). Worth realization is being pursued by way of a multi-partner strategy.

In early 2024, we bolstered our money at hand by way of completion of a USD 15 million public providing. We have been happy to see MSD GHI (a company enterprise capital arm of Merck & Co., Inc., Rahway, NJ, USA) additionally take part on this providing, making them our largest shareholder.

Inside the Goal a part of our technique, in February we introduced the profitable completion of the preliminary phases of the continued vaccine collaboration with MSD (tradename of Merck & Co., Inc., Rahway, NJ, USA). The collaboration is on observe for completion of the vaccine discovery and early preclinical improvement half in the course of the second half of the yr, and we’re excited to be creating a novel vaccine along with one of many world’s main corporations in vaccine improvement and commercialization.

Our R&D Day in March, with a give attention to our AI-Immunology™ platform, attracted lots of consideration and we’re thrilled to see the curiosity from potential companions in gaining a deeper understanding of the distinctive alternatives for locating, designing, and creating novel vaccines utilizing AI-Immunology™ in partnership with Evaxion.

Inside the Pipeline a part of our technique, a key focus for Evaxion throughout 2024 has been the continued personalised EVX-01 Part 2 trial in metastatic melanoma. We have been thrilled to see the primary affected person finishing dosing with EVX-01 in April. This was adopted by a presentation of thrilling immune knowledge on the ASCO Annual Assembly in early June, displaying that the EVX-01 vaccine induced particular and focused immune responses, with 71% of the administered neoantigens eliciting a T-cell response. This compares favorably to what different corporations have proven. We’re trying very a lot ahead to the one-year readout from the Part 2 trial, which continues to be anticipated within the third quarter of this yr.

Additionally, throughout the Pipeline a part of our technique, we’re persevering with the work on a precision vaccine idea based mostly on a novel supply of most cancers vaccine targets. This novel precision vaccine idea holds potential to broaden using most cancers vaccines. We’re on observe for preclinical Proof-of-Idea within the second half of the yr.

Lastly, it’s price mentioning that our ambition of producing enterprise improvement earnings in 2024 akin to our yearly operational money burn of USD 14 million stays in place. Whereas there’ll at all times be uncertainty as as to if enterprise improvement discussions materialize in precise agreements and the timing of such agreements, we’re inspired by the robust curiosity we’re seeing from potential companions in each our pipeline property and our AI-Immunology™ platform. We’re totally centered on advancing these enterprise improvement discussions.

We want to take this chance to want you all an ideal summer time, and we look ahead to persevering with robust execution on our three-pronged enterprise mannequin in the course of the second half of 2024. We stay dedicated to saving and bettering lives with AI-Immunology™.

On behalf of the Evaxion workforce, I want to thank all our shareholders for the continued assist.

Greatest regards,
Christian Kanstrup, CEO

About EVAXION  

Evaxion Biotech A/S is a pioneering TechBio firm based mostly upon its AI platform, AI-Immunology™. Evaxion’s proprietary and scalable AI prediction fashions harness the ability of synthetic intelligence to decode the human immune system and develop novel immunotherapies for most cancers, bacterial ailments, and viral infections. Primarily based upon AI-Immunology™, Evaxion has developed a clinical-stage oncology pipeline of novel personalised vaccines and a preclinical infectious illness pipeline in bacterial and viral ailments with excessive unmet medical wants. Evaxion is dedicated to remodeling sufferers’ lives by offering modern and focused remedy choices. For extra details about Evaxion and its groundbreaking AI-Immunology™ platform and vaccine pipeline, please go to our web site.

Ahead-Trying Assertion  

This announcement accommodates forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. The phrases “goal,” “imagine,” “count on,” “hope,” “intention,” “intend,” “could,” “may,” “anticipate,” “ponder,” “proceed,” “estimate,” “plan,” “potential,” “predict,” “challenge,” “will,” “can have,” “probably,” “ought to,” “would,” “may,” and different phrases and phrases of comparable that means establish forward-looking statements. Precise outcomes could differ materially from these indicated by such forward-looking statements on account of numerous elements, together with, however not restricted to, dangers associated to: our monetary situation and want for extra capital; our improvement work; price and success of our product improvement actions and preclinical and scientific trials; commercializing any permitted pharmaceutical product developed utilizing our AI platform know-how, together with the speed and diploma of market acceptance of our product candidates; our dependence on third events together with for conduct of scientific testing and product manufacture; our incapability to enter into partnerships; authorities regulation; safety of our mental property rights; worker issues and managing development; our ADSs and unusual shares, the influence of worldwide financial, political, authorized, compliance, social and enterprise elements, together with inflation, and the results on our enterprise from the worldwide ongoing COVID-19 pandemic and the continued battle within the area surrounding Ukraine and Russia and the Center East; and different uncertainties affecting our enterprise operations and monetary situation. For an additional dialogue of those dangers, please consult with the danger elements included in our most up-to-date Annual Report on Kind 20-F and different filings with the U.S. Securities and Change Fee (SEC), which can be found at www.sec.gov. We don’t assume any obligation to replace any forward-looking statements besides as required by regulation.