{"id":396083,"date":"2020-12-09T06:03:21","date_gmt":"2020-12-09T11:03:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=396083"},"modified":"2020-12-09T06:03:21","modified_gmt":"2020-12-09T11:03:21","slug":"eu-boosts-evaxions-artificial-intelligence-vaccine-research","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eu-boosts-evaxions-artificial-intelligence-vaccine-research\/","title":{"rendered":"EU Boosts Evaxion\u2019s Artificial Intelligence Vaccine Research"},"content":{"rendered":"<div class=\"mw_release\">\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>EIB signs \u20ac20\u00a0million (DKK\u00a0149\u00a0million) loan agreement with Danish research and development company Evaxion Biotech A\/S.<\/strong>\n        <\/li>\n<li style=\"text-align:justify\">\n          <strong>Evaxion will use financing for research and development into <\/strong><br \/>\n          <strong>its <\/strong><br \/>\n          <strong>proprietary artificial intelligence platforms used to identify novel vaccine and immunotherapy targets.<\/strong>\n        <\/li>\n<li style=\"text-align:justify\">\n          <strong>T<\/strong><br \/>\n          <strong>ransaction supported by European Commission through InnovFin \u2013 EU finance for innovators <\/strong><br \/>\n          <strong>program<\/strong><br \/>\n          <strong>, under the Infectious Diseases Finance Facility window.<\/strong><br \/>\n          \n        <\/li>\n<\/ul>\n<p align=\"justify\">LUXEMBOURG and COPENHAGEN, Denmark, Dec.  09, 2020  (GLOBE NEWSWIRE) &#8212; The European Investment Bank (EIB) has signed a \u20ac20\u00a0million loan agreement with Evaxion, supported by the <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tYohfZG6rh2nw_iBKpyfSRSDZbbTQ-ucjxzct0qnfOhc7YqExz0AutUz_qEWTthYo9h40j-Yg_tmyFPrChr_LLKvwZ9ZAVSsucNT4JuAbPhwGS9PQ0wCuuEBQQVveRAPpQkD6x9bUOd2R9mjCdeNxIWr1EeVJ4xwNhDxtr1zXkodJgMJryLZJ0_Jy41z6t_8\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Infectious Diseases Finance Facility<\/a> window under the EU\u2019s InnovFin \u2013 EU finance for innovators program, backed by the EU\u2019s research and innovation program Horizon 2020, which guarantees EIB loans for highly innovative projects. The financing will support Evaxion\u2019s research and development (R&amp;D) investments in the use of artificial intelligence (AI) to determine the most suitable targets for immunotherapies for cancer and infectious diseases.<\/p>\n<p align=\"justify\">The main focus of the research, Evaxion\u2019s proprietary AI-based platforms, could potentially transform the drug discovery process for vaccines and immunotherapies. In particular, the infectious disease programs targeting Staphylococcus aureus and Pseudomonas aeruginosa aim to identify novel vaccines to address the resistance to common treatments developed by these pathogens. The EU financing will support the investments in Evaxion\u2019s AI platforms, as well as its pre-clinical and clinical activity.<\/p>\n<p align=\"justify\">\n        <strong>Lars Wegner<\/strong>, CEO of Evaxion, said: \u201c<em>This<\/em><em>loan agreement with <\/em><em>the <\/em><em>EIB underpins <\/em><em>Evaxion\u2019s <\/em><em>position <\/em><em>as a leader <\/em><em>in the utilization of AI for discovery and development of novel vaccines and immunotherapies<\/em><em>,<\/em><em> and supports <\/em><em>important <\/em><em>research and development within <\/em><em>our <\/em><em>key programs. We are proud <\/em><em>to be entering <\/em><em>into this agreement with EIB, which is an example of critical financing <\/em><em>being used <\/em><em>to address some of the biggest challenges to human health<\/em>.\u201d<\/p>\n<p align=\"justify\">EIB Vice-President <strong>Christian Kettel Thomsen<\/strong> stated: \u201c<em>As the EU bank, the EIB strives to ensure that high impact projects receive the financing they need. The EIB is delighted to be supporting Evaxion. The use of AI in the development of vaccines and immunotherapies is true innovation and is perfectly in sync with the EIB\u2019s overarching priority: improving people\u2019s lives. In recent years, the Bank\u2019s investments in Denmark have been able to support many innovative companies, of which this is an excellent example.\u201d <\/em><\/p>\n<p align=\"justify\">\n        <strong>Mariya Gabriel<\/strong>, European Commissioner for Innovation, Research, Culture, Education and Youth, added: \u201c<em>Protecting the health of our citizens and leading the digital transformation are key priorities underpinning Europe\u2019s prosperity and growth. This EU-backed loan for Evaxion\u2019s research using <\/em><em>AI <\/em><em>may <\/em><em>help <\/em><em>to <\/em><em>transform the drug discovery process to treat cancer and infectious diseases.\u201d<\/em><\/p>\n<p align=\"justify\">The project not only strengthens European R&amp;D, but is also contemplated to have an impact on the safeguarding and creation of highly skilled jobs in the EU. The research will be wholly carried out in Denmark, and is expected to contribute to technological advancements in artificial intelligence and its applications in healthcare. As such, the project is expected to bring important social benefits in terms of advances in research and alleviating the burden placed on healthcare services by the increased incidence of multi-resistant pathogens.<\/p>\n<p>\n        <strong>Background Information:<\/strong>\n      <\/p>\n<p align=\"justify\">The <strong>European Investment Bank (EIB)<\/strong> is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2019, the Bank provided over <strong>\u20ac850\u00a0million<\/strong> in <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=y22VeNUPpM61TTBHGTA8sJrpwzbDMvkIDb9S4lYnoRcy5nPoVYBvXdOWvxIl6HgYpyS-wXIyNHxxPbJpSXCeWILGpMGwwbfA8xAf2whxS541ovRBz_YeJkqPEjEd8FlAfAGn6TscDeuRfYrQWj7_B3nF-oOg4-uoK055GgFKCoCt2P1IZYnlqP7VLIJKZ2F6JAXnaFd50ohs4k5oqwe_s6aMedOetlrsXQ8Qaa1Ea7K9YLF5_6ZYoqQ36PNZu5O9e6tl9WRnH3pSOqaLemg6Q6adapGJ-FSLiT--rSlJlsG3groZ4tHlRkyi0Wwfu2irvWsLKHYi0g1XDqyUWFQYqF0OjbY_RVKGzwSL-1Y6Evq9_jlPUDaRPkjWuS1-xvTVJLXnsUfwl7LAq3Qt_2OZTw7TVGj8-Cj1AUT9rnhx9aX4t6Xj0dmCtKKsG24YkAntbGoMW4tQhupyAp29WS5czw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">loans for Danish projects<\/a> in various sectors, including services, innovative industry and small and medium-sized enterprises.<\/p>\n<p align=\"justify\">Under Horizon 2020, the EU research and innovation framework program for 2014-2020, the <strong>Infectious Diseases Finance Facility<\/strong> (IDFF) provides financial products ranging from standard debt to equity-type financing for amounts typically between \u20ac7.5\u00a0million and \u20ac75\u00a0million to innovative players active in developing innovative vaccines, drugs, medical and diagnostic devices or novel research infrastructure for combating infectious diseases. Project costs may include clinical trial costs, set-up of commercialization such as market access, development of prototypes or industrial roll-out of novel equipment, pre-clinical R&amp;D costs and working capital requirement. This facility is delivered directly by the EIB, which has so far provided \u20ac241\u00a0million under the InnovFin IDFF.<\/p>\n<p align=\"justify\">\n        <strong>About Evaxion<\/strong><br \/>\n        <br \/>Evaxion Biotech A\/S is an AI-immunology\u2122 platform company decoding the human immune system to discover and develop novel, targeted immunotherapies to treat cancer and infectious diseases. Based on its proprietary and scalable AI-immunology core technology, Evaxion Biotech is developing a broad pipeline of novel assets which comprises three patient-specific cancer immunotherapies, two of which are in Phase 1\/2 clinical development. In addition, the Company is advancing a portfolio of vaccines to prevent bacterial and viral infections with one program currently in preclinical development against S. aureus and skin and soft tissue infections (SSTI).<\/p>\n<p align=\"justify\">\n        <strong>Press contacts:<\/strong><br \/>\n        <br \/>\n        <strong>European Investment Bank<\/strong>: Tim Smit, +352 691 286423, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Yhu0YFefJIESlTUyttNZCEZraee3ja630p82zRWXdfK82aMyXWsdV9MEfnY4xQQZU7uzMZNZComm4dv5VmbgBA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">t.smit@eib.org<\/a><br \/><strong>European Commission<\/strong>: Flora Matthaes, +32 460 755148, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=7iNGIvYFZv_p5gjAGXGiX_CuLkGXZBz_NGPlr6r349RSzktgXPx4PNMORzI6-E78_9SbpfXxKXW8REp3rdObQpjZzBJfuxNe5eKczx6yf0FBvYBOozV97HESuScKDvLX\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">flora.matthaes@ec.europa.eu<\/a><br \/><strong>Evaxion<\/strong>: Glenn S. Vraniak +1 (513) 476-2669, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=4ldqH8kwDXUGnewdJgqg78dwBLPqvBt_mMRoLMSQJW_JfVhJBsEeU9ogkSkyNOzyW4y2IvKn0kAzelCkC-c0kDhK9arrYA9yxEl1L6QDeF8=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">gvr@evaxion-biotech.com<\/a><\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5OTI4NSMzODYzMzkwIzUwMDA2OTA4NQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/b36bd459-e5a4-44a9-8b1c-b82fd7f70cd4\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>EIB signs \u20ac20\u00a0million (DKK\u00a0149\u00a0million) loan agreement with Danish research and development company Evaxion Biotech A\/S. Evaxion will use financing for research and development into its proprietary artificial intelligence platforms used to identify novel vaccine and immunotherapy targets. T ransaction supported by European Commission through InnovFin \u2013 EU finance for innovators program , under the Infectious Diseases Finance Facility window. LUXEMBOURG and COPENHAGEN, Denmark, Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; The European Investment Bank (EIB) has signed a \u20ac20\u00a0million loan agreement with Evaxion, supported by the Infectious Diseases Finance Facility window under the EU\u2019s InnovFin \u2013 EU finance for innovators program, backed by the EU\u2019s research and innovation program Horizon 2020, which guarantees EIB loans for highly innovative projects. The financing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eu-boosts-evaxions-artificial-intelligence-vaccine-research\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;EU Boosts Evaxion\u2019s Artificial Intelligence Vaccine Research&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-396083","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EU Boosts Evaxion\u2019s Artificial Intelligence Vaccine Research - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/eu-boosts-evaxions-artificial-intelligence-vaccine-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU Boosts Evaxion\u2019s Artificial Intelligence Vaccine Research - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"EIB signs \u20ac20\u00a0million (DKK\u00a0149\u00a0million) loan agreement with Danish research and development company Evaxion Biotech A\/S. Evaxion will use financing for research and development into its proprietary artificial intelligence platforms used to identify novel vaccine and immunotherapy targets. T ransaction supported by European Commission through InnovFin \u2013 EU finance for innovators program , under the Infectious Diseases Finance Facility window. LUXEMBOURG and COPENHAGEN, Denmark, Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; The European Investment Bank (EIB) has signed a \u20ac20\u00a0million loan agreement with Evaxion, supported by the Infectious Diseases Finance Facility window under the EU\u2019s InnovFin \u2013 EU finance for innovators program, backed by the EU\u2019s research and innovation program Horizon 2020, which guarantees EIB loans for highly innovative projects. 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Evaxion will use financing for research and development into its proprietary artificial intelligence platforms used to identify novel vaccine and immunotherapy targets. T ransaction supported by European Commission through InnovFin \u2013 EU finance for innovators program , under the Infectious Diseases Finance Facility window. LUXEMBOURG and COPENHAGEN, Denmark, Dec. 09, 2020 (GLOBE NEWSWIRE) &#8212; The European Investment Bank (EIB) has signed a \u20ac20\u00a0million loan agreement with Evaxion, supported by the Infectious Diseases Finance Facility window under the EU\u2019s InnovFin \u2013 EU finance for innovators program, backed by the EU\u2019s research and innovation program Horizon 2020, which guarantees EIB loans for highly innovative projects. 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