Evaxion CEO comments on strategic focus

COPENHAGEN, Denmark, Nov. 10, 2022 (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, today announced that it intends to further increase its focus on its lead oncology assets EVX-01 and EVX-02/03 to bring them to clinical proof of concept followed by out-licensing. The Company further plans preclinical partnering of its early-stage programs under its infectious disease platforms.

"I am deeply impressed by the AI platforms and the quality of the innovative programs that Evaxion has developed. The Company holds several first-in-class assets within oncology and infectious diseases. In the current biotech market, however, we fully acknowledge the increasing need to center our activities. Consequently, our resources will be channeled into our leading clinical assets within personalized cancer immunotherapy,” states Per Norlén, the Company’s new Chief Executive Officer. Mr. Norlén continues:
"Our primary focus will be on our Phase IIb program for EVX-01 and our Phase I/IIa program for EVX-02/03. Regarding our early programs for infectious diseases, such as our Staphylococcus aureus vaccine, we aim to develop these in partnerships rather than bringing them into clinical development ourselves.”

As previously announced by the Company, the EVX-01 program recently started to enroll patients in the global Phase IIb trial in metastatic melanoma. At the same time, the Phase I/IIa trial of the DNA-based EVX-02 is progressing as planned, with data readout currently expected by mid-2023. The next-generation DNA vaccine, EVX-03, builds on EVX-02 and holds the potential for even stronger efficacy due to an integrated mechanism that boosts the immune system. The Company plans to submit a regulatory filing of EVX-03, following EVX-02 data, which may allow Evaxion to advance EVX-03 faster to clinical proof of concept.

Per Norlén explains: "We have generated very promising pre-clinical data on EVX-03 demonstrating that this next-generation DNA immunotherapy has the potential to outperform existing technologies. I believe that this truly novel concept makes Evaxion a leading player within the field of personal cancer immunotherapies. We are now awaiting the completion of the EVX-02 trial to fully capture the clinical data and incorporate its learnings into the upcoming EVX-03 study. This will allow us to move EVX-03 forward with high speed and quality towards clinical Phase II.”

About Evaxion
Evaxion Biotech A/S is a clinical-stage biotech company developing AI-powered immunotherapies. With our proprietary and scalable AI technology, we decode the human immune system to discover and develop novel immunotherapies for cancer, bacterial diseases, and viral infections. Evaxion has a broad pipeline of novel product candidates, including patient-specific cancer immunotherapies. It is located in Hørsholm, Denmark, with 70 employees.

Evaxion Biotech A/S                                                       
Per Norlén                                                                         
Chief Executive Officer (CEO)                                     

For more information, please contact
Katrine Hertz Mortensen
VP, Communications and Public Relations
khm@evaxion-biotech.com
+45 3010 0203

Source: Evaxion Biotech

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