EVAX Evaxion Biotech A/S

6.12
-0.02  -0%
Previous Close 6.14
Open 7.01
52 Week Low 5.155
52 Week High 10.34
Market Cap $117,495,848
Shares 19,198,668
Float 19,198,668
Enterprise Value $102,976,062
Volume 33,324
Av. Daily Volume 87,807
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Latest News

  1. COPENHAGEN, Denmark, June 03, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage biotech company developing AI-driven immunotherapies and vaccines to improve the lives of patients with cancer and infectious diseases, announced today new preclinical data from its Adaptive and Intelligent Vaccine for a Rapid Response against Corona Viruses (AICoV) program.

    The AICoV program aims to potentially develop the next generation of corona virus vaccines, utilizing RAVEN, Evaxion's AI powered vaccine design platform, along with Evaxion's proprietary Antigen Presenting Cell (APC) targeting DNA vaccine technology and novel manufacturing approaches.

    The RAVEN platform, an integral part of Evaxion's AICoV program, combines advanced…

    COPENHAGEN, Denmark, June 03, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage biotech company developing AI-driven immunotherapies and vaccines to improve the lives of patients with cancer and infectious diseases, announced today new preclinical data from its Adaptive and Intelligent Vaccine for a Rapid Response against Corona Viruses (AICoV) program.

    The AICoV program aims to potentially develop the next generation of corona virus vaccines, utilizing RAVEN, Evaxion's AI powered vaccine design platform, along with Evaxion's proprietary Antigen Presenting Cell (APC) targeting DNA vaccine technology and novel manufacturing approaches.

    The RAVEN platform, an integral part of Evaxion's AICoV program, combines advanced algorithms from Evaxion's proprietary AI-immunology™ Core technology to identify optimal T and B cell antigen targets for the development of novel viral vaccines. Early data demonstrate that RAVEN identifies novel immunogenic T cell epitopes outside the spike protein, showing RAVEN's potential to rapidly support the design of novel SARS-COV-2 vaccines against current and future variants.

    This proof-of-concept for Evaxion's RAVEN platform and APC targeting DNA vaccine technology supports the potential development a next generation of SARS-COV-2 vaccines, which would aim to overcome challenges potentially encountered with the current vaccines including:

    • Loss of effectiveness against variants of SARS-CoV-2 due to focus on a single target
    • Requirement for cold storage supply chains
    • Severe adverse events related to viral vector vaccines, which have not been observed in clinical trials relying on DNA vaccine technology

    Lars Wegner, CEO of Evaxion, said: "These preclinical data show that Evaxion's RAVEN platform and proprietary APC targeting DNA vaccine technology have the potential to make a significant contribution in addressing corona viruses. This is an important stepping stone which we believe could enable the development of next generation vaccines against SARS-CoV-2, designed using Evaxion's AI-powered RAVEN platform to have broader coverage of virus variants and rapid design turn-around with the potential to respond in a short time frame to emerging variants of concern and future viral pandemics. This continued development of our RAVEN platform is very exciting, enabling a truly adaptive vaccine design relying on potent T cell epitopes and neutralizing antibodies to combat current and future variants of concern."

    The application of Evaxion's proprietary targeted DNA plasmid vaccine technology for a SARS-CoV-2 vaccine, utilizing the receptor-binding domain (RBD) from the spike protein (EVX-APC-RBD), was shown to elicit a T cell response and neutralizing antibodies at comparable levels to those measured in convalescent human sera. Animal studies in mice immunized with EVX-APC-RBD revealed sera derived geometric mean endpoint-titers comparable to preclinical levels reported for spike protein based vaccines. The obtained live virus (SARS-CoV-2) microneutralization geometric mean titers were comparable to that of human derived convalescent sera, supporting the induction of a functional immune response. Furthermore, mice immunized with EVX-APC-RBD showed induction of a T cell response measured by IFNγ ELISpot covering the entire RBD fragment and a similar T-cell response was seen with epitopes selected by the RAVEN platform outside the spike protein.

    Evaxion's ongoing development work in the AI-CoV program is supported by funding from international investors and Innovation Fund Denmark.

    About Evaxion

    Evaxion Biotech A/S is a clinical-stage AI-immunology™ platform company decoding the human immune system to discover and develop novel immunotherapies to treat cancer, and vaccines against bacterial diseases and viral infections. Based on its proprietary and scalable AI-immunology core technology, Evaxion is developing a broad pipeline of novel product candidates which currently includes three patient-specific cancer immunotherapies, two of which are in Phase 1/2a clinical development. In addition, Evaxion is advancing a portfolio of vaccines to prevent bacterial and viral infections currently in preclinical development.

    For more information 
    EvaxionLifeSci Advisors LLC
    Glenn S. VraniakMary-Ann Chang
    Chief Financial OfficerManaging Director
    +1 (513) 476-2669+44 7483 284 853

    Source: Evaxion Biotech

    Forward-looking statement

    This announcement contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this announcement regarding the Company's future operations, plans and objectives are forward-looking statements. 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 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 Form 20-F for the year end December 31, 2020 and the Company's current and future reports filed with, or submitted 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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  2. COPENHAGEN, Denmark, May 26, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer and infectious diseases, announced today its shareholders elected Lars Holtug, a highly experienced financial professional with specific expertise in the healthcare industry, as a member of its Board of Directors.

    The vote was held at Evaxion's Annual General Meeting on May 25, 2021. Lars Holtug will also chair Evaxion's Audit Committee, taking over from Helen M. Boudreau, who chose not to stand for re-election for personal reasons.

    Marianne Søgaard, Chairwoman of Evaxion, said: "I am delighted to welcome Lars…

    COPENHAGEN, Denmark, May 26, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer and infectious diseases, announced today its shareholders elected Lars Holtug, a highly experienced financial professional with specific expertise in the healthcare industry, as a member of its Board of Directors.

    The vote was held at Evaxion's Annual General Meeting on May 25, 2021. Lars Holtug will also chair Evaxion's Audit Committee, taking over from Helen M. Boudreau, who chose not to stand for re-election for personal reasons.

    Marianne Søgaard, Chairwoman of Evaxion, said: "I am delighted to welcome Lars Holtug to the Evaxion Board of Directors. Lars brings a wealth of experience from senior roles in accountancy and Board memberships in numerous companies. He has spent significant time in the biotech industry, both in his role at PwC and as a Board member, and this experience will prove invaluable to Evaxion as we continue to advance our clinical programs to treat cancer, bacterial diseases and viral infections."

    Lars Holtug served for 35 years as an employee and partner of PwC in Denmark, including four years as Chairman of the Board. His clients included a number of major Danish pharmaceutical and biotech companies and he advised Boards and executives on management remuneration. He currently serves on the Boards of a number of companies, including Gaming Investment A/S and MTI Caretag Invest A/S, both of which as Chairman, and Ascendis Pharma A/S, a U.S. publicly traded company listed on the NASDAQ, as a Board member, Audit Committee Chair and member of the Remuneration Committee.

    About Evaxion

    Evaxion Biotech A/S is a clinical-stage AI-immunology™ platform company decoding the human immune system to discover and develop novel immunotherapies to treat cancer, bacterial diseases and viral infections. Based on its proprietary and scalable AI-immunology core technology, Evaxion is developing a broad pipeline of novel product candidates which currently includes three patient-specific cancer immunotherapies, two of which are in Phase 1/2a clinical development. In addition, Evaxion is advancing a portfolio of vaccines to prevent bacterial and viral infections currently in preclinical development.

    For more information 
    EvaxionLifeSci Advisors LLC
    Glenn S. VraniakMary-Ann Chang
    Chief Financial OfficerManaging Director
    +1 (513) 476-2669+44 7483 284 853

    Source: Evaxion Biotech

    Forward-looking statement

    This announcement contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this announcement regarding the Company's future operations, plans and objectives are forward-looking statements. 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 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 Form 20-F for the year ended December 31, 2020 and the Company's other reports filed with, or submitted 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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    • Raised net proceeds of $27.9 million in U.S. initial public offering in February 2021
    • Lead programs EVX-01 and EVX-02 on track for Phase 1/2a data readouts late in Q2
    • Product candidates EVX-03 and EVX-B1 progressing through pre-clinical development
    • Cash reserves of $27 million at March 31, 2021

    COPENHAGEN, Denmark, May 13, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX) ("Evaxion" or the "Company"), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today the first quarter 2021 financial results and provided an operational update.

    Lars Wegner, CEO of Evaxion, said: "Evaxion made strong…

    • Raised net proceeds of $27.9 million in U.S. initial public offering in February 2021

    • Lead programs EVX-01 and EVX-02 on track for Phase 1/2a data readouts late in Q2
    • Product candidates EVX-03 and EVX-B1 progressing through pre-clinical development
    • Cash reserves of $27 million at March 31, 2021

    COPENHAGEN, Denmark, May 13, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX) ("Evaxion" or the "Company"), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today the first quarter 2021 financial results and provided an operational update.

    Lars Wegner, CEO of Evaxion, said: "Evaxion made strong progress in Q1 2021, successfully concluding our U.S. IPO and continuing to advance our clinical programs. Our two lead product candidates, EVX-01 and EVX-02, are on track for results from Phase 1/2a trials late in Q2 and we continue to develop our RAVEN AI platform for vaccine design and development for viral infections. We believe that our cash reserves of $27 million provide a solid financial foundation and will facilitate the continued development of our four lead programs."

    Operational and Business Highlights in Q1 2021

    • Closed U.S. initial public offering of 3,000,000 American Depositary Shares at a public offering price of $10.00 per ADS. The gross proceeds from the offering, before deducting underwriting fees and commissions and other offering expenses, were $30 million.
    • Recruitment for two lead product candidates, EVX-01 and EVX-02, in Phase 1/2a clinical trials remains on track for data readouts late in Q2.
    • Other lead product candidates, EVX-03 for multiple cancer indications and EVX-B1, a vaccine for the prevention of Staphylococcus aureus including MRSA, continue to progress as expected through pre-clinical development and Chemistry, Manufacturing and Controls (CMC).
    • Cash reserves at March 31, 2021 of $27.0 million, provide continued funding of key programs.
    • Opened new corporate headquarters and research laboratory facility located in the DTU Science Park in Hoersholm near Copenhagen, Denmark.
    • Publication of a paper in the peer-reviewed journal Scientific Reports, describing a study into the bacterium S. aureus, which may facilitate a better understanding of host-pathogen interactions during invasive infection.

    Events after the Reporting Period

    • Presentation at the 4th Neoantigen Summit Europe, described Evaxion's recent improvement in determining cancer neoepitopes through measurement and prediction of peptide-MHC (pMHC) complex stability.

    Expected milestones in 2021

    • Phase 1/2a data readout on EVX-01 in metastatic melanoma - Q2 2021
    • Phase 1/2a data readout on EVX-02 in adjuvant melanoma - Q2 2021
    • Regulatory filing for clinical trial of EVX-03 in multiple cancers - H2 2021

    First Quarter 2021 Financial Results

    • Cash position: As of March 31, 2021, cash and cash equivalents were $27.0 million compared to $5.8 million as of December 31, 2020. On February 9, 2021, we closed our IPO raising net proceeds of $27.9 million after underwriting discounts and commissions, but before offering expenses.
    • Research and Development expenses were $3.9 million for the quarter ended March 31, 2021, compared to $2.5 million for the same period in 2020. The increase of $1.4 million was primarily related to increased spending, net of grant income, for ongoing development on our platform, pre-clinical product candidates, and clinical trials. In addition, employee-related costs increased due to higher headcount.
    • General and Administrative expenses were $1.3 million for the quarter ended March 31, 2021, compared to $0.8 million for the same period in 2020. The increase of $0.5 million was primarily related to increases in overhead and professional fees related to the expansion of our corporate function for our initial public offering.
    • Net loss was $4.1 million for the quarter ended March 31, 2021 or ($0.23) loss per basic and diluted share, compared to $3.1 million, or ($0.20) loss per basic and diluted share, for the same period in 2020.

    Guidance

    • Evaxion's operating plan extends its cash runway into 2022.

    Webcast and Conference Call

    Evaxion will host a webcast and conference call today, May 13, at 8:30 a.m. EDT.

    To dial-in for the conference call, please use the following details:

    US: 877-407-0792

    International: +1-201-689-8263

    Conference ID: 13718732

    Alternatively to access the audio webcast, please visit the events page of Evaxion's website at:

    https://evaxion-biotech.com/news-and-events/events/default.aspx

    About Evaxion

    Evaxion Biotech A/S is a clinical-stage AI-immunology™ platform company decoding the human immune system to discover and develop novel immunotherapies to treat cancer, bacterial diseases and viral infections. Based on its proprietary and scalable AI-immunology core technology, Evaxion is developing a broad pipeline of novel product candidates which currently includes three patient-specific cancer immunotherapies, two of which are in Phase 1/2a clinical development. In addition, Evaxion is advancing a portfolio of vaccines to prevent bacterial and viral infections currently in preclinical development.

    For more information 
    EvaxionLifeSci Advisors LLC
    Glenn S. Vraniak Mary-Ann Chang
    Chief Financial Officer  Managing Director
      
    +1 (513) 476-2669 +44 7483 284 853

    Source: Evaxion Biotech

    Forward-looking statement

    This announcement contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this announcement regarding the Company's future operations, plans and objectives are forward-looking statements. 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 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 Form 20-F for the year ended December 31, 2020 and the Company's other reports filed with, or submitted 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 A/S
    Consolidated Statements of Financial Position Data (Unaudited)
    (USD in thousands)
       March 31, 

       Dec 31, 
      2021   2020 
       
    Cash and cash equivalents$26,955  $5,834 
    Total assets 34,920   11,965 
    Total liabilities 7,121   4,927 
    Share capital 3,132   2,648 
    Other reserves 55,745   31,669 
    Accumulated deficit (31,078)  (27,279)
    Total equity 27,799   7,038 
    Total liabilities and equity$34,920  $11,965 
       



    Evaxion Biotech A/S
    Consolidated Statements of Comprehensive Loss Data (Unaudited)
    (USD in thousands, except per share data)
     Year Ended March 31,
      2021   2020 
       
    Research and development expenses$3,893  $2,510 
    General and administrative expenses 1,282   781 
    Operating loss (5,175)  (3,291)
    Finance income 972   16 
    Finance expenses (297)  (4)
    Net loss before tax  (4,500)  (3,279)
    Income taxes 407   180 
    Net loss for the period$(4,093) $(3,099)
    Net loss attributable to equity holders of Evaxion Biotech A/S$(4,093) $(3,099)
    Loss per share – basic and diluted$(0.23) $(0.20)
    Number of shares used for calculation (basic and diluted) 17,865,335   15,184,152 



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  3. COPENHAGEN, Denmark, May 06, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today that it will present its first-quarter 2021 financial results on May 13.

    Lars Wegner, CEO of Evaxion, and Glenn Vraniak, CFO, will host an earnings call on May 13 at 8.30 a.m. EDT.

    To dial-in for the conference call, please use the following details:

    US: 877-407-0792

    International: +1-201-689-8263

    Conference ID: 13718732

    Alternatively to access the audio webcast, please visit the events page of Evaxion's website at:

    https://evaxion-biotech.com/news-and-events/events/default.aspx

    COPENHAGEN, Denmark, May 06, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today that it will present its first-quarter 2021 financial results on May 13.

    Lars Wegner, CEO of Evaxion, and Glenn Vraniak, CFO, will host an earnings call on May 13 at 8.30 a.m. EDT.

    To dial-in for the conference call, please use the following details:

    US: 877-407-0792

    International: +1-201-689-8263

    Conference ID: 13718732

    Alternatively to access the audio webcast, please visit the events page of Evaxion's website at:

    https://evaxion-biotech.com/news-and-events/events/default.aspx

    A webcast replay will be available on the Evaxion website approximately two hours after the event.

    About Evaxion

    Evaxion Biotech A/S is a clinical-stage AI-immunology™ platform company decoding the human immune system to discover and develop novel immunotherapies to treat cancer, bacterial diseases and viral infections. Based on its proprietary and scalable AI-immunology core technology, Evaxion is developing a broad pipeline of novel product candidates which currently includes three patient-specific cancer immunotherapies, two of which are in Phase 1/2a clinical development. In addition, Evaxion is advancing a portfolio of vaccines to prevent bacterial and viral infections currently in preclinical development.

    For more information
    Evaxion LifeSci Advisors LLC
    Glenn S. Vraniak Mary-Ann Chang
    Chief Financial Officer Managing Director
      
    +1 (513) 476-2669  +44 7483 284 853

    Source: Evaxion Biotech

    Forward-looking statement

    This announcement contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this announcement regarding the Company's future operations, plans and objectives are forward-looking statements. 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 novel coronavirus known as COVID-19 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 prospectus filed on February 5, 2021 and the Company's current and future reports filed with, or submitted 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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  4. COPENHAGEN, Denmark, April 20, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX) ("Evaxion" or the "Company"), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today a presentation by Jens Kringelum, PhD, Evaxion's Director in Genomic Immuno-Oncology, at the 4th Neoantigen Summit Europe, being held virtually April 20-22, focusing on "AI in personalized cancer medicine". The presentation described Evaxion's recent improvement in determining cancer neoepitopes through measurement and prediction of peptide-MHC (pMHC) complex stability.

    The work, previously reported in Nature Communications

    COPENHAGEN, Denmark, April 20, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX) ("Evaxion" or the "Company"), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today a presentation by Jens Kringelum, PhD, Evaxion's Director in Genomic Immuno-Oncology, at the 4th Neoantigen Summit Europe, being held virtually April 20-22, focusing on "AI in personalized cancer medicine". The presentation described Evaxion's recent improvement in determining cancer neoepitopes through measurement and prediction of peptide-MHC (pMHC) complex stability.

    The work, previously reported in Nature Communications, December 9, 2020, outlines data on the thermostability of pMHC, the biological context for antigen processing. The paper explains how this method can be used to generate new data to train AI models for prediction of T-cell epitopes, and demonstrates how this appears to be a significant improvement over AI models trained on traditional mass spectrometry ligand data.

    The data have already proved valuable in enabling Evaxion's artificial neural networks to more readily predict the immunological behavior of certain peptide epitopes.

    Lars Wegner, CEO of Evaxion, said: "This exciting research is an important advancement in how we at Evaxion can train AI systems to make drug development more efficient. In particular, we believe the data indicates how the use of pMHC thermostability can be used to train an improved model for the prediction of peptide immunogenicity, specifically of cancer neoepitopes. This is particularly relevant for Evaxion's PIONEERTM, our proprietary AI platform for the rapid discovery and design of patient-specific neoepitopes used to derive immuno-oncology therapies."

    PIONEER uses sophisticated algorithms to identify and select tumor-specific mutations that we believe are most likely to generate a de novo T-cell activation and anti-tumor immune response. These tumor-specific mutations, termed neoepitopes, are incorporated into patient-specific immunotherapies. Evaxion is continuously improving the performance of its PIONEER platform in selecting putative neoepitopes by modifying aspects of the underlying algorithms and through the development of novel methods for data generation.

    Although the stability of pMHC is known to be important, current assays assess this interaction only for a single peptide at a time and in isolation and not in the context of natural antigen processing and presentation. We believe this new method provides a comprehensive and unbiased measure of pMHC stability for thousands of individual ligands detected simultaneously by mass spectrometry.

    This allows rapid assessment of intra-allelic and inter-allelic differences in pMHC stability and shows profiles of stability that are broader than previously appreciated, facilitating the training of the new model. This assay can be applied to any cells bearing MHC or MHC-like molecules, offering insight into not only the endogenous immunopeptidome, but also that of neoepitopes and pathogen-derived sequences.

    About Evaxion

    Evaxion Biotech A/S is a clinical-stage AI-immunology™ platform company decoding the human immune system to discover and develop novel immunotherapies to treat cancer, bacterial diseases and viral infections. Evaxion has developed its AI-immunology core technology to deeply understand the biological processes relevant for engaging the immune system so the Company can harness its powers through novel immunotherapies. Evaxion's scalable AI-immunology core technology enables broad applicability across diseases with immunological components. With deep insights into the biological processes of the immune system, Evaxion bridges technology, engineering expertise and drug development know-how to bring novel immunotherapies to patients. Based on its proprietary and scalable AI-immunology core technology, Evaxion is developing a broad pipeline of novel product candidates which currently includes three patient-specific cancer immunotherapies, two of which are in Phase 1/2a clinical development. In addition, Evaxion is advancing a portfolio of vaccines to prevent bacterial and viral infections with one program currently in preclinical development against S. aureus (including Methicillin-resistant S. aureus) induced skin and soft tissue infections.

    For more information

    EvaxionLifeSci Advisors LLC
    Glenn S. VraniakMary-Ann Chang
    Chief Financial OfficerManaging Director
    +1 (513) 476-2669+44 7483 284 853

    Source: Evaxion Biotech

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