Evaxion将候选疫苗EVX-B3授权给MSD

COPENHAGEN, Denmark, September 25, 2025 - Evaxion A/S (NASDAQ: EVAX) (“Evaxion”), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, has out-licensed its vaccine candidate EVX-B3 to MSD (tradename of Merck & Co., Inc., Rahway, NJ, USA) as per the option and license agreement entered between the two companies in September 2024.

Evaxion will receive a cash payment of $7.5 million and will be eligible for future development, regulatory and sales milestone payments of up to $592 million, as well as royalties on net sales. MSD will assume full responsibility and carry all costs for the further development of the EVX-B3 vaccine.

EVX-B3, currently in preclinical development, aims to address a serious global medical issue, targeting a pathogen associated with repeated infections, increasing incidence and often serious medical complications, and for which no vaccines are currently available. Identified with Evaxion’s AI-Immunology™ platform, EVX-B3 showcases the platform’s unique ability to uncover novel targets that would otherwise remain undiscovered.

“We are delighted that MSD has exercised its option on EVX-B3 following a very successful collaboration. This has significant financial value for us, but equally important is the massive validation of our AI-Immunology™ platform by MSD, the world leader in vaccine development and commercialization. We could not have found a better partner to develop and maximize the full potential for our AI-discovered vaccine candidate. Further, this exemplifies our strategic approach to monetize value through high-impact partnerships,” says Birgitte Rønø, CSO and interim CEO of Evaxion.

“With its AI-Immunology™ platform, Evaxion has identified novel protective vaccine targets for a pathogen long considered difficult to address. We look forward to further evaluating EVX-B3 as part of our early vaccine pipeline,” says Tarit Mukhopadhyay, Vice President, Head of Infectious Diseases and Vaccine Discovery, MSD Research Laboratories.

Cash runway extended
The cash payment of $7.5 million extends Evaxion’s cash runway into the first half of 2027. We will continue to invest our cash at hand in operating and developing our business. Investments will be directed to both the AI-Immunology™ platform and our R&D pipeline projects to support our strategy of entering value-creating partnerships like the one with MSD.

EVX-B2 evaluation period extended
EVX-B3 was discovered and developed in a collaboration between Evaxion and MSD originally established in September 2023. A year later, the collaboration was expanded through the option and license agreement also covering EVX-B2, a preclinical vaccine candidate against Gonorrhea.

Evaxion and MSD have agreed to extend the evaluation period for EVX-B2 as an amendment to the option and license agreement. The extension follows an expansion of the initial evaluation plan encompassing further experiments. Consequently, a decision on potential in-licensing of EVX-B2 by MSD is now expected in the first half of 2026.

Should MSD exercise the option on EVX-B2, Evaxion will receive a cash payment of $2.5 million and be eligible for future development, regulatory and sales milestone payments of up to $592 million as well as royalties on sales as for EVX-B3. The milestones are not additive per product to get to total deal value as some discount may occur if both programs progress successfully.

Conference call and webcast

Evaxion’s Executive Management will host a conference call and webcast today at 2.30pm CET/8.30am EST, discussing the events as outlined above. The call will include a Q&A session.

To join the conference call, listen to the presentation and ask verbal questions, please register in advance via this link to receive the dial-in telephone numbers and a unique pin code. The call can be accessed 15 minutes prior to the start of the live event.

To join the webcast, please click on this link. The webcast recording will be available on our website shortly after the event.

​