Evaxion, ExpreS2ion Ink Research Pact For Cytomegalovirus Vaccine Candidate

Evaxion Biotech A/S EVAX has signed a Vaccine Discovery Collaboration Agreement with ExpreS2ion Biotech Holding AB for the joint development of a novel cytomegalovirus (CMV) vaccine candidate.
During the discovery phase of the collaboration, Evaxion will use its proprietary AI platform, RAVEN, to design a next-generation vaccine candidate that elicits both cellular and humoral/antibody responses.
The antigen constructs derived from Evaxion's AI platform will be produced by ExpreS2ion, followed by assessments in Evaxion's preclinical models.
The joint discovery project will be included in Evaxion's development pipeline under EVX-V1.
Related: Evaxion Biotech Highlights Promising Data From Personalized Cancer Immunotherapy.
Under the terms of the collaboration, ExpreS2ion will have the exclusive right to license the CMV vaccine candidate. The research and intellectual property licensing costs will be divided 50/50 between the parties until 2025.
A potential future Development and Commercialization Agreement for the jointly discovered CMV vaccine candidate is expected to include an upfront payment and future milestone payments to Evaxion from ExpreS2ion not exceeding a six-digit USD amount, as well as sub-licensing royalty.
Price Action: EVAX shares closed at $2.18 on Monday.