Evaxion Biotech A/S announced that it has entered into an option and license agreement with MSD (tradename of Merck & Co., Inc., Rahway, NJ, USA) for two preclinical vaccine candidates. The agreement expands the companies’ current collaboration and carries significant value for Evaxion.
Under the terms of the agreement, Evaxion has granted MSD an option to exclusively license Evaxion’s 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. In return, Evaxion receives an upfront payment of $3.2 million and up to $10 million in 2025, contingent upon MSD exercising its option to license either one or both candidates. In addition, Evaxion is eligible for development, regulatory and sales milestone payments with a potential value of up to $592 million per product, as well as royalties on net sales.
“This expanded collaboration with MSD, a world leader in vaccine development and commercialization, is truly transformative for Evaxion. It provides strong validation of our AI-Immunology™ platform and novel vaccine candidates. The agreement follows our strategy of leveraging external collaborations to unlock the value of our technology while advancing our innovative pipeline to create long-term value for patients and our shareholders,” says Christian Kanstrup, CEO of Evaxion.
“Vaccines offer a powerful option for reducing the impact and spread of infectious diseases,” said Tarit Mukhopadhyay, Vice President, Head of Infectious Diseases and Vaccine Discovery, MSD Research Laboratories. “We are excited to expand our collaboration with Evaxion with a focus on advancing EVX-B2 and EVX-B3 into clinical development.”
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