Evaxion Biotech Grants Merck Option to License Vaccine Candidates

MT Newswires Live09-26 20:20

Evaxion Biotech (EVAX) said Thursday it granted Merck (MRK) an option to exclusively license two preclinical vaccine candidates, EVX-B2 and EVX-B3.

If Merck exercises the option to license either one or both candidates, Evaxion will receive $3.2 million upfront and up to $10 million in 2025, Evaxion said.

Evaxion said it is also eligible for milestone payments of up to $592 million per product.

EVX-B2 is a protein-based candidate for gonorrhea and EVX-B3, co-developed with Merck, targets an undisclosed infectious agent.

Evaxion was up more than 6%, while Merck was trading fractionally higher in pre-bell Thursday.

Price: 3.1000, Change: +0.18, Percent Change: +6.16

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