Evaxion Biotech A/S EVAX inked an choice and licensing cope with Merck & Co., Inc MRK for 2 preclinical vaccine candidates.
Evaxion additionally granted Merck an choice to license preclinical vaccine candidates EVX-B2 and EVX-B3.
EVX-B2 is a protein-based candidate for Gonorrhea, and EVX-B3 targets an undisclosed infectious agent.
Additionally Learn: Why Is Most cancers Remedy Centered Evaxion Biotech Inventory Buying and selling Increased Right this moment?
Evaxion will obtain an upfront cost of $3.2 million and as much as $10 million in 2025 as a part of the deal. The settlement is contingent upon Merck exercising its choice to license both one or each candidates.
As well as, Evaxion is eligible for growth, regulatory, and gross sales milestone funds with a possible worth of as much as $592 million per product, and royalties on internet gross sales.
Christian Kanstrup, CEO of Evaxion, referred to as the collaboration “transformative” and a “robust validation” of the corporate’s AI-Immunology platform and vaccine candidates.
Evaxion and Merck have been collaborating on EVX-B3 since 2023. On the time, Merck, by means of its International Well being Innovation Fund (MGHIF), led a non-public placement spherical of financing for Evaxion to turn out to be the corporate’s single largest shareholder.
MGHIF additionally participated in Evaxion’s public providing in February this 12 months.
Final 12 months, Evaxion Biotech collaborated with Afrigen Biologics to develop a prophylactic vaccine based mostly on Evaxion’s EDEN-discovered gonorrhea targets.
Value Motion: EVAX inventory is up 8.83% at $3.08 finally examine Thursday.
Learn Subsequent:
Picture: Courtesy of Merck
Market Information and Knowledge delivered to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
