Evaxion (NASDAQ:EVAX) announced today that MSD has opted not to exercise its option to develop the protein-based version of Evaxion’s Gonorrhea vaccine candidate, EVX-B2.
As a result, Evaxion will retain global rights to EVX-B2 and is now seeking a new licensing partner for the vaccine.
The decision by MSD, which follows the exercise of an option for a separate vaccine candidate, EVX-B3, does not impact Evaxion’s financial stability.
The company confirmed that its cash runway extends into the second half of 2027.
In addition to EVX-B2, Evaxion is also advancing the development of an mRNA version of the vaccine in collaboration with Afrigen Biologics.
Preclinical studies have shown that EVX-B2 offers protection against Gonorrhea, further reinforcing the vaccine’s potential.
MSD’s earlier exercise of an option for EVX-B3 entitles Evaxion to up to $592 million in milestone payments, plus royalties.