Evaxion and MSD Forge a Promising Vaccine Partnership
Exciting Expansion in Vaccine Development Collaboration
Evaxion Biotech A/S (NASDAQ: EVAX) is taking monumental steps forward in vaccine development, recently announcing an expansion of their collaboration with MSD (the tradename of Merck & Co., Inc.). This agreement signals a pivotal moment in the development of groundbreaking vaccine candidates using AI technology.
Details of the Agreement
The newly formed option and license agreement allows MSD the option to exclusively license Evaxion’s innovative preclinical vaccine candidates, named EVX-B2 and EVX-B3. EVX-B2 is developed to combat Gonorrhea, while the target for EVX-B3 is yet to be disclosed. This significant arrangement reflects a deepening of the relationship between Evaxion and MSD, emphasizing their combined vision for tackling infectious diseases through advanced technologies.
Financial Framework of the Collaboration
As part of this collaboration, Evaxion will receive an initial payment of $3.2 million from MSD. Furthermore, there is a potential for up to an additional $10 million in subsequent payments if MSD decides to exercise its licensing options for either or both vaccine candidates in 2025. Beyond these upfront payments, Evaxion will also earn milestone payments, which could accumulate to a remarkable $592 million per product as the development progresses, alongside a share of royalties on net sales of these vaccines.
Significance of the Collaboration
Christian Kanstrup, CEO of Evaxion, articulated the transformative potential of this enhanced partnership, emphasizing the validation it provides for their AI-Immunology™ platform. "This expanded collaboration with MSD, a world leader in vaccine development, not only reinforces the value of our technology but also aids in driving our innovative pipeline further," he noted.
MSD’s Perspective on Vaccine Development
From MSD's standpoint, Tarit Mukhopadhyay, Vice President, Head of Infectious Diseases and Vaccine Discovery at MSD Research Laboratories, stated, "Vaccines represent a potent tool in mitigating the risks associated with infectious diseases. We are thrilled to enhance our collaboration with Evaxion, focusing on the advancement of EVX-B2 and EVX-B3 into clinical development phases." This dual commitment showcases the importance both companies place on innovation and public health improvement.
Ongoing Partnership History
The collaboration between Evaxion and MSD is not entirely new. They have been working together on the development of EVX-B3 since 2023, highlighting a growing relationship based on shared goals in healthcare innovation. Additionally, the MSD Global Health Innovation Fund (MGHIF) took a significant step last year by leading a private investment round, ultimately becoming Evaxion’s largest shareholder. Their involvement not only showcases their confidence in Evaxion's potential but also supports the overall growth of the company.
Looking Ahead: Upcoming Conference Call
To discuss this collaborative agreement and share insights on company milestones, Evaxion's Executive Management will host a conference call and webcast. This has been scheduled for September 27, 2024, at 14:00 CEST/08:00 EDT. Participants will have the chance to learn more about this exciting agreement and engage in a Q&A session as part of the event.
Contact Information for Inquiries
For those looking for further information, Evaxion Biotech A/S provides a direct line of communication through Mads Kronborg, Vice President of Investor Relations & Communication, who can be reached at +45 53 54 82 96. Interested parties may also contact him via email for specific inquiries.
About Evaxion Biotech A/S
Evaxion Biotech is a pioneering TechBio company that employs its unique AI platform, AI-Immunology™, in the continuous quest for groundbreaking immunotherapies. Their work significantly impacts developing personalized vaccines and preclinical pipelines aimed at both bacterial and viral diseases. Evaxion stands committed to transforming patient care through innovative treatments driven by cutting-edge technology.
Frequently Asked Questions
What is the collaboration between Evaxion and MSD about?
The collaboration aims to expand the development of two preclinical vaccine candidates, EVX-B2 and EVX-B3, leveraging AI technology in vaccine design.
What are the financial terms of the newly announced agreement?
Evaxion will receive an upfront payment of $3.2 million, with potential for additional payments totaling up to $10 million, alongside significant milestone payments for each product.
How will this agreement benefit Evaxion?
This partnership validates Evaxion's AI-Immunology™ platform and increases its ability to develop innovative vaccines, potentially leading to enhanced company valuation and market reach.
What is MSD's role in this collaboration?
MSD will have the option to exclusively license the vaccine candidates, hence playing a crucial part in advancing these candidates into clinical development.
How can interested parties find more information?
For inquiries, Mads Kronborg at Evaxion Biotech serves as a point of contact, providing information on the company's projects and developments.
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