Evaxion announces 2025 milestones reflecting continued strong strategy execution

• With most of Evaxion’s strategic milestones for 2024 now successfully achieved, the company announces milestones for 2025
• The 2025 key milestones reflect all parts of Evaxion’s strategy for value realization
• Evaxion expects to discuss the milestones at an investor event in the first quarter of 2025
  
  

COPENHAGEN, Denmark, December 9, 2024 - Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion”), a clinical-stage TechBio company specializing in developing AI-Immunology powered vaccines, announces its strategic milestones for 2025 after having now achieved almost all the milestones set for 2024.

The 2025 milestones reflect Evaxion’s high activity level, broad pipeline and strong external interest in potential partnerships around both our AI-Immunology platform and pipeline assets. As such, the milestones underscore our continued anticipated strategic progress.

“We have been very successful in executing our strategy and plans throughout 2024. This makes us excited and confident looking into 2025, as reflected in the milestones for the year. In essence, our strategy for value creation is unchanged and so is our daily focus on executing this strategy to the benefit of shareholders, patients and employees,” says Christian Kanstrup, CEO of Evaxion.

Evaxion’s overriding priorities are execution upon our business development strategy, continuation of the ongoing EVX-01 phase 2 trial, the ongoing strengthening of our AI-Immunology platform and further advancement of our research activities, including progressing our ERV-based precision vaccine concept towards clinical development. Finally, the focus is, of course, on advancing our existing partnerships, including bringing the MSD collaboration, entered in September 2024, to option exercise.

All this is reflected in the 2025 milestones as listed below. Evaxion expects to discuss the milestones at an investor event in the first quarter of 2025.

	Milestones	Target
AI-Immunology	Launch of automated lead vaccine candidate design module	H2
Business development and partnerships	At least two new agreements	2025
EVX-01	All patients completed EVX-01 dosing	H1
EVX-01	Supplemental phase 2 biomarker and immunogenicity data	H1
EVX-01	Two-year phase 2 clinical efficacy readout	H2
Precision ERV cancer vaccines	Selection of lead vaccine candidate	H2
MSD vaccine collaboration (EVX-B2/EVX-B3)	MSD option exercise, up to USD 10 million option exercise fee	H2
EVX-V1	Lead antigens selected for CMV vaccine candidate	H2
Infectious diseases	Two new pipeline candidates	1 in H1, 1 in H2

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