EU Boosts Evaxion's Artificial Intelligence Vaccine Research

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2019, the Bank provided over €850 million in loans for Danish projects in various sectors, including services, innovative industry and small and medium-sized enterprises. Under Horizon 2020, the EU research and innovation framework program for 2014-2020, the Infectious Diseases Finance Facility (IDFF) provides financial products ranging from standard debt to equity-type financing for amounts typically between €7.5 million and €75 million to innovative players active in developing innovative vaccines, drugs, medical and diagnostic devices or novel research infrastructure for combating infectious diseases. Project costs may include clinical trial costs, set-up of commercialization such as market access, development of prototypes or industrial roll-out of novel equipment, pre-clinical R&D costs and working capital requirement. This facility is delivered directly by the EIB, which has so far provided €241 million under the InnovFin IDFF. About Evaxion Evaxion Biotech A/S is an AI-immunology platform company decoding the human immune system to discover and develop novel, targeted immunotherapies to treat cancer and infectious diseases. Based on its proprietary and scalable AI-immunology core technology, Evaxion Biotech is developing a broad pipeline of novel assets which comprises three patient-specific cancer immunotherapies, two of which are in Phase 1/2 clinical development. In addition, the Company is advancing a portfolio of vaccines to prevent bacterial and viral infections with one program currently in preclinical development against S. aureus and skin and soft tissue infections (SSTI).