Shots:
- Evaxion has granted Merck the rights to EVX-B3, a preclinical vaccine candidate under their Sep 2024 option & license agreement
- As per the deal, Merck will assume full responsibility & costs of further development of EVX-B3 in exchange for $7.5M upfront & ~$592M in development, regulatory & sales milestones, with net sales-based royalties
- EVX-B3 was co-discovered by Evaxion & Merck under a 2023 deal, later expanded in 2024 to incl. EVX-B2, a preclinical gonorrhea vaccine. The evaluation period for EVX-B2 is extended to H1’26, with Evaxion receiving $2.5M upfront & ~$592M in milestone payments & royalties if Merck’s option is exercised
Ref: Evaxion| Image: Evaxion and Merck | Press Release
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