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Evaxion Biotech A/S (symbol: EVAX) is a clinical-stage biotechnology company founded in 2008 with the mission to address some of the most significant global health challenges using artificial intelligence (AI). The company has developed robust platforms for creating novel vaccines and therapies. Evaxion's primary AI platforms, PIONEER and EDEN, utilize advanced in silico tools including big data, AI, and supercomputing to predict, rank, and optimize epitopes and antigens that stimulate highly protective immune responses against cancers and infectious diseases.
Evaxion's EDEN platform focuses on the rapid discovery of new antigens eliciting cross-protective immune responses against bacterial pathogens. On the other hand, the PIONEER platform identifies epitopes of mutated proteins to activate the body's natural immune responses. Additionally, the company has developed two more AI platforms, RAVEN and ObsERV, to further enhance its drug development pipeline.
The company's leading product candidates include EVX-01 and EVX-02, which are under development for cancer treatment, as well as EVX-03, a pre-clinical candidate for non-small-cell lung cancer (NSCLC). With a strong focus on AI-driven drug discovery and development, Evaxion aims to create innovative immunotherapies with improved efficacy for patients with unmet medical needs.
Recent news highlights key company activities, such as:
- A replay of the R&D Day presentations is available on the company's website.
- Information about the EVX-01 Phase 2 clinical trial.
- The company resolved a Nasdaq equity deficiency issue stemming from the IFRS accounting treatment of investor warrants.
To learn more about Evaxion Biotech A/S and its innovative AI-driven approaches, please visit Evaxion Biotech.
Evaxion Biotech A/S (NASDAQ: EVAX) has unveiled improved performance of its key AI-Immunology™ building block, EvaxMHC, at the 32nd Intelligent Systems for Molecular Biology conference. The advancements in EvaxMHC are expected to enhance Evaxion's ability to accurately predict vaccine targets for personalized and precision vaccines in cancer and infectious diseases.
The improvements include:
- Utilization of a state-of-the-art deep-learning framework
- Creation of a unified representation for MHC class I and II molecules
- Implementation of a deep transformer encoder-decoder architecture
- Adoption of a generative adversarial network (GAN) pretraining mechanism
These enhancements have led to improved vaccine designs demonstrated in preclinical studies, particularly for MHC class II molecules, which have historically been challenging to predict accurately.
Evaxion Biotech, a clinical-stage TechBio company, has made significant progress in the first half of 2024. They raised $15 million in a public offering, with MSD GHI becoming the largest shareholder. Collaborations with MSD for vaccine development are on track, with completion expected in the second half of 2024. The company showcased its AI-Immunology™ platform at an R&D Day in March, gaining interest from potential partners. In April, the first patient completed dosing in the Phase 2 trial of EVX-01 for metastatic melanoma, with promising immune data presented in June. The company aims to achieve business development income matching their $14 million operational cash burn and is advancing discussions with potential partners. Their focus remains on developing AI-powered vaccines to save and improve lives.
Evaxion Biotech announced positive feedback from an International Preliminary Report on Patentability (IPRP) for its AI-based method to identify novel cancer vaccine targets. This patent application (PCT/EP2022/086444) involves a unique approach to recognizing tumor vaccine targets derived from Endogenous Retroviruses (ERVs) using their proprietary AI-Immunology™ platform.
The feedback underscores the novelty and inventiveness of Evaxion's claims, enhancing the company's position in the personalized cancer vaccine field. The endorsement by the World Intellectual Property Organization (WIPO) confirms the patent's promising prospects. CEO Christian Kanstrup emphasized the importance of this validation in advancing Evaxion's innovative cancer treatments and strengthening their intellectual property portfolio as part of a multi-partner strategy.
Evaxion has published Phase 1 study data for its AI-designed personalized cancer vaccine, EVX-01, in the Journal for ImmunoTherapy of Cancer. The study showed a 67% objective response rate (ORR) in patients with metastatic melanoma, with eight out of 12 patients showing clinical responses — six partial and two complete. EVX-01, co-administered with anti-PD-1 therapy, did not cause serious vaccine-related adverse events. The results validate the precision of Evaxion's AI-Immunology™ platform.
Phase 2 of the EVX-01 program is underway, with 71% of administered neoantigens inducing specific T-cell responses, as presented at ASCO. The one-year efficacy readout is expected in Q3 2024. CEO Christian Kanstrup expressed optimism about these promising results.
Evaxion Biotech presented promising data from their Phase 2 trial of the AI-designed cancer vaccine, EVX-01, at the ASCO Annual Meeting 2024. The vaccine, targeting neoantigens in metastatic melanoma patients, showed a specific immune response in all participants. Key findings include a 71% neoantigen-triggered T-cell response, involvement of both CD4+ and CD8+ T-cells, and no significant safety concerns. The data further validate Evaxion’s AI-Immunology™ platform's precision. CEO Christian Kanstrup highlighted the potential life-saving impact of EVX-01 and anticipates further data by Q3 2024.
Evaxion Biotech (NASDAQ: EVAX) released its first-quarter 2024 financial results and business update. Key highlights include a net income of $1.2 million, a significant improvement from a $6.2 million loss in Q1 2023, primarily due to the remeasurement of derivative liabilities. The company's cash position improved to $11.7 million from $5.6 million at year-end 2023. Operational highlights include advancements in their AI-Immunology™ platform and upcoming milestones for their vaccine candidates. However, Evaxion received a Nasdaq equity deficiency letter due to IFRS accounting treatment of investor warrants. The company addressed this by converting warrant exercise prices from USD to DKK, eliminating the derivative liability. Despite the positive financial turnaround, Evaxion needs additional funding to sustain operations beyond Q1 2025.
Evaxion Biotech announces positive data from its ongoing Phase 2 study of the personalized cancer vaccine EVX-01 at the American Society of Clinical Oncology (ASCO) Annual Meeting. The study, which combines EVX-01 with anti-PD1 therapy for advanced melanoma patients, reveals that EVX-01 induces strong and specific immune responses mediated by both CD4+ and CD8+ T-cells. Booster shots further enhance these responses without safety concerns. The vaccine demonstrated a good tolerance profile with only minor adverse events. These findings support the potential clinical benefits of EVX-01 and the precision of Evaxion’s AI-Immunology™ platform in selecting effective vaccine targets.
Evaxion Biotech A/S (NASDAQ: EVAX) announced receiving a Nasdaq notification about non-compliance with the minimum stockholders’ equity requirement. The company reported stockholders’ equity below the required amount due to accounting treatment of investor warrants. Nasdaq granted a 45-day period for the company to submit a compliance plan.
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