Evaxion Biotech signs vaccine discovery collaboration agreement with ExpreS2ion

Evaxion Biotech announced that the company has signed a vaccine discovery collaboration agreement with ExpreS2ion Biotech’s affiliate ExpreS2ion Biotechnologies ApS for the joint development of a novel cytomegalovirus, or CMV, vaccine candidate. Under the terms of the collaboration, ExpreS2ion will have the exclusive right to license the CMV vaccine candidate under a potential development and commercialization agreement. The research and intellectual property licensing costs for the collaboration project will be divided 50/50 between the parties until 2025, with all costs expected to be contained in each party’s existing operating expenses. A potential future development and commercialization agreement for the jointly discovered CMV vaccine candidate is expected to include an upfront payment and future milestone payments to Evaxion from ExpreS2ion not exceeding a six-digit amount, as well as sub-licensing royalty to Evaxion from ExpreS2ion based on mid to lower two-digit percentage range of third-party licensee income depending on the clinical development stage of the CMV asset at the time of sublicensing.