Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion” or the “Company”), a
clinical-stage biotechnology company specializing in the
development of AI-driven immunotherapies, today announces that the
Company has signed a Vaccine Discovery Collaboration Agreement with
ExpreS2ion Biotech Holding AB’s affiliate ExpreS2ion
Biotechnologies ApS (“ExpreS2ion”) for the joint development of a
novel cytomegalovirus (CMV) vaccine candidate.
During the discovery phase of the collaboration, Evaxion will
use its proprietary AI platform, RAVEN, to design a next-generation
vaccine candidate that elicits both cellular and humoral/antibody
responses. The antigen constructs derived from Evaxion’s AI
platform will be produced by ExpreS2ion in the company’s ExpreS2
platform, followed by assessments in Evaxion’s state-of-the-art
preclinical models. The joint discovery project will be included in
Evaxion’s development pipeline under EVX-V1.
About the collaborationUnder
the terms of the collaboration, ExpreS2ion will have the exclusive
right to license the CMV vaccine candidate under a potential
Development and Commercialization Agreement. The research and
intellectual property licensing costs for the collaboration project
will be divided 50/50 between the parties until 2025, with all
costs expected to be contained in each party’s existing operating
expenses.
A potential future Development and Commercialisation Agreement
for the jointly discovered CMV vaccine candidate is expected to
include an upfront payment and future milestone payments to Evaxion
from ExpreS2ion not exceeding a six-digit USD amount, as well as
sub-licensing royalty to Evaxion from ExpreS2ion based on mid to
lower two-digit percentage range of third-party licensee income
depending on the clinical development stage of the CMV asset at the
time of sublicensing.
Evaxion’s CEO Per Norlén comments:“This is a
great win for both companies allowing us to build on the synergies
between our cutting-edge technologies for vaccine discovery. And it
is a great pleasure to team up with Bent and his team. We believe
that ExpreS2ion´s superb platforms for the production of complex
proteins are a great match with our AI platform for target
discovery and our novel technologies for inducing strong immune
responses. CMV represents a critical unmet medical need, and I
believe our two companies have the potential to deliver a truly
differentiated vaccine.”
ExpreS2ion’s CEO Bent U. Frandsen comments:“We
are excited to initiate a collaboration with Evaxion to develop a
novel CMV vaccine candidate and, during this process, be able to
combine our respective capabilities. Together, we cover the full
value chain of vaccine discovery and development, from
bioinformatics-derived antigen constructs, through upstream and
downstream process development, preclinical pharmacology
development, and further. I have high hopes of this partnership
leading to the development of a highly immunogenic and
user-friendly vaccine for protection against CMV infections.”
CMV represents an unmet medical need
Cytomegalovirus (CMV) is a member of the herpesvirus family, and it
is a widespread infection, with half of the US population being
infected by age 40. The virus is transmitted in body fluids, and
once infected, the virus stays for life. People with weakened
immune systems, including organ transplant patients, can develop
severe symptoms affecting, for example, eyes, lungs, and liver, and
congenitally infected babies may suffer from intellectual
disability and loss of vision and hearing.
About
ExpreS2ionExpreS2ion
Biotechnologies ApS is a fully owned Danish subsidiary of
ExpreS2ion Biotech Holding AB (NASDAQ First North Growth Market
Sweden ticker: EXPRS2). ExpreS2ion has developed a unique
technology platform, ExpreS2, for fast and efficient non-clinical
development and production of complex proteins for new vaccines and
diagnostics. ExpreS2 is regulatorily validated for clinical supply.
The platform includes functionally modified glycosylation variants
for enhanced immunogenicity and pharmacokinetics. Since 2010, the
Company has produced more than 500 proteins and virus-like
particles (VLPs) in collaboration with leading research
institutions and companies.
About EvaxionEvaxion Biotech A/S is a
clinical-stage biotech company developing AI-powered
immunotherapies. Its proprietary and scalable AI technology decodes
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 three patient-specific cancer
immunotherapies. It is listed with Nasdaq US under the ticker
“EVAX” and is located in Hørsholm, Denmark, with 70 employees.
For further information about Evaxion, please
contact:Per Norlén, CEOE-mail: pno@evaxion-biotech.com
VP, Communications and Public RelationsKatrine
Hertz MortensenE-mail: khm@evaxion-biotech.comPhone: +45
30100203
Source: Evaxion Biotech
Forward-looking statementThis 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.
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