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COPENHAGEN - Evaxion A/S (NASDAQ: EVAX), a clinical-stage biotechnology company with a market capitalization of $17.18 million, announced today it has received a grant from the Gates Foundation to support the development of a novel polio vaccine using its AI-Immunology™ platform. According to InvestingPro data, the company’s stock has shown strong momentum with a 15% gain over the past week. Despite the availability of polio vaccines for decades, complete eradication of the disease has not yet been achieved, prompting the need for a new vaccination approach.
The funding will allow Evaxion to leverage its proprietary technology to identify and combine various antigens to design potential new vaccine constructs without incurring additional financial costs. The initiative aims to address the persistent risk of a global polio resurgence by creating a safer and more effective vaccine alternative that does not rely on live viruses.
Christian Kanstrup, CEO of Evaxion, expressed enthusiasm about the collaboration: "We are thrilled to receive support from the Gates Foundation and help the world achieve the goal of completely eradicating polio." He emphasized the potential of their AI-Immunology™ platform in combating infectious diseases and its role in the project without adding to the company’s operational spend. InvestingPro analysis shows the company maintains a strong balance sheet with more cash than debt, while achieving remarkable revenue growth of over 2,500% in the last twelve months.
Polio, primarily affecting children under five, can lead to irreversible paralysis and even death in a small percentage of cases. The World Health Organization reports a dramatic decrease in wild poliovirus cases since 1988, but as long as any child remains infected, the threat persists worldwide.
Evaxion’s approach seeks to eliminate the safety risks associated with growing and handling live viruses in vaccine production. The company’s AI-Immunology™ platform has already been clinically validated and is used to develop personalized vaccines for cancer and preclinical infectious disease pipelines.
This partnership aligns with Evaxion’s commitment to innovative and targeted treatment options, harnessing artificial intelligence to decode the human immune system. The information for this article is based on a press release statement from Evaxion Biotech. For deeper insights into AI-driven biotech companies and their valuations, InvestingPro subscribers can access comprehensive research reports covering 1,400+ stocks, including detailed financial health scores and expert analysis.
In other recent news, Evaxion Biotech has made significant strides in its financial and research endeavors. The company reported advancements in its Phase 2 trial for the EVX-01 cancer vaccine, highlighting an 80% immune response rate in patients with advanced melanoma. Additionally, Evaxion has extended its cash runway to mid-2026, bolstered by a rise in cash and cash equivalents to $17.8 million as of March 2025. Despite no revenue in the first quarter of 2025, Evaxion recorded financial income from remeasurement of derivative liabilities, resulting in a net loss of $1.6 million for the period.
Evaxion’s collaboration with MSD on the EVX-B2 and EVX-B3 programs is progressing, with potential option exercises anticipated later in the year, which could result in substantial milestone payments. Analyst Swayampakula Ramakanth from H.C. Wainwright has maintained a Buy rating for Evaxion, setting a price target of $14, reflecting confidence in the company’s strategic progress. The company’s ongoing efforts in developing vaccines for infectious diseases and oncology are expected to attract new partnerships and funding opportunities. Evaxion’s AI-Immunology™ platform continues to support its precision cancer vaccine development, with promising preclinical results showing the ability to control tumor growth in mice.
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