Evaxion CEO comments on strategic focus
November 10 2022 - 4:09AM
Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Company”), a
clinical-stage biotechnology company specializing in the
development of AI-driven immunotherapies, today announced that it
intends to further increase its focus on its lead oncology assets
EVX-01 and EVX-02/03 to bring them to clinical proof of concept
followed by out-licensing. The Company further plans preclinical
partnering of its early-stage programs under its infectious disease
platforms.
“I am deeply impressed by the AI platforms and the quality of
the innovative programs that Evaxion has developed. The Company
holds several first-in-class assets within oncology and infectious
diseases. In the current biotech market, however, we fully
acknowledge the increasing need to center our activities.
Consequently, our resources will be channeled into our leading
clinical assets within personalized cancer immunotherapy,” states
Per Norlén, the Company’s new Chief Executive Officer. Mr. Norlén
continues:“Our primary focus will be on our Phase IIb program for
EVX-01 and our Phase I/IIa program for EVX-02/03. Regarding our
early programs for infectious diseases, such as our Staphylococcus
aureus vaccine, we aim to develop these in partnerships rather than
bringing them into clinical development ourselves.”
As previously announced by the Company, the EVX-01 program
recently started to enroll patients in the global Phase IIb trial
in metastatic melanoma. At the same time, the Phase I/IIa trial of
the DNA-based EVX-02 is progressing as planned, with data readout
currently expected by mid-2023. The next-generation DNA vaccine,
EVX-03, builds on EVX-02 and holds the potential for even stronger
efficacy due to an integrated mechanism that boosts the immune
system. The Company plans to submit a regulatory filing of EVX-03,
following EVX-02 data, which may allow Evaxion to advance EVX-03
faster to clinical proof of concept.
Per Norlén explains: “We have generated very promising
pre-clinical data on EVX-03 demonstrating that this next-generation
DNA immunotherapy has the potential to outperform existing
technologies. I believe that this truly novel concept makes Evaxion
a leading player within the field of personal cancer
immunotherapies. We are now awaiting the completion of the EVX-02
trial to fully capture the clinical data and incorporate its
learnings into the upcoming EVX-03 study. This will allow us to
move EVX-03 forward with high speed and quality towards clinical
Phase II.”
About EvaxionEvaxion Biotech A/S is a
clinical-stage biotech company developing AI-powered
immunotherapies. With our proprietary and scalable AI technology,
we decode the human immune system to discover and develop novel
immunotherapies for cancer, bacterial diseases, and viral
infections. Evaxion has a broad pipeline of novel product
candidates, including patient-specific cancer immunotherapies. It
is located in Hørsholm, Denmark, with 70 employees.
Evaxion Biotech
A/S
Per
Norlén
Chief Executive Officer
(CEO)
For more information, please contactKatrine
Hertz MortensenVP, Communications and Public
Relationskhm@evaxion-biotech.com+45 3010 0203
Source: Evaxion Biotech
Forward-looking statement
This announcement contains forward-looking
statements that involve substantial risks and uncertainties. All
statements, besides those of historical facts, included in this
announcement regarding the Company’s future operations, plans and
objectives are forward-looking. Although the Company believes its
expectations are based on reasonable assumptions, all statements
other than statements of historical fact included in this
announcement about future events are subject to (i) change without
notice and (ii) factors beyond the Company’s control. These
statements may include, without limitation, any statements preceded
by, followed by, or including words such as “target,” “believe,”
“expect,” “hope,” “aim,” “intend,” “may,” “might,” “anticipate,”
“contemplate,” “continue,” “estimate,” “plan,” “potential,”
“predict,” “project,” “will,” “can have,” “likely,” “should,”
“would,” “could”, and other words and terms of similar meaning or
the negative thereof. Actual results may differ materially from
those indicated by such forward-looking statements as a result of
various factors, including but not limited to: risks associated
with the Company’s financial condition and need for additional
capital; risks associated with the Company’s development work; cost
and success of the Company’s product development activities and
preclinical and clinical trials; risks related to commercializing
any approved pharmaceutical product developed using the Company’s
AI platform technology, including the rate and degree of market
acceptance of the Company’s product candidates; risks related to
the Company’s dependence on third parties including for conduct of
clinical testing and product manufacture; risks associated with the
Company’s inability to enter into partnerships; risks related to
government regulation; risks associated with protection of the
Company’s intellectual property rights; risks related to employee
matters and managing growth; risks related to the Company’s ADSs
and ordinary shares, risks associated with the pandemic caused by
the coronavirus known as COVID-19 and the emergence and prevalence
of COVID-19 variants, such as the Delta and Omicron variant and
certain related variants such as the Omicron BA.4 and BA.5
variants, risks associated with the invasion of the Ukraine by
Russia and other risks and uncertainties affecting the Company’s
business operations and financial condition.
Forward-looking statements are subject to
inherent risks and uncertainties beyond the Company’s control that
could cause the Company’s actual results, performance, or
achievements to be materially different from the expected results,
performance, or achievements expressed or implied by such
forward-looking statements. For a further description of the risks
and uncertainties that could cause actual results to differ from
those expressed in these forward-looking statements, as well as
risks relating to the Company’s business in general, see the risks
described in the “Risk Factors” section included in the Company’s
Annual Report on Form 20-F filed on March 31, 2022 and the
Company’s current and future reports filed with, or furnished to,
the U.S. Securities and Exchange Commission (SEC). Any
forward-looking statements contained in this announcement speak
only as of the date hereof, and except as required by law, the
Company assumes no obligation to update these forward-looking
statements publicly, or to update the reasons actual results could
differ materially from those anticipated in the forward-looking
statements, even if new information becomes available in the
future.
Evaxion Biotech AS (NASDAQ:EVAX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Evaxion Biotech AS (NASDAQ:EVAX)
Historical Stock Chart
From Jul 2023 to Jul 2024