Evaxion A/S · NASDAQ:EVAX

Evaxion A/S — Evaxion Biotech — Investor Presentation (February 2024)

40 slides from Evaxion A/S's investor presentation, February 2024

Slide 1: AI-Immunology Powered Vaccines
February 2024 evaxion-biotech.com AI-ImmunologyTM Powered Vaccines EVAX:NASDAQ
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “target,” “believe,” “expect,” “hope,” “aim,” “intend,” “may,” “m
Slide 3: Executive Summary
Executive Summary Evaxion is a pioneering TechBio company with a validated and leading AI–platform (AI-Immunology™) for fast and effective vaccine target discovery, design and development Click to add title AI-Immunology™ allows for groundbreaking development of novel personalized and precision vacc
Slide 4: Recent Highlights Confirm Strong Strategy Execution
Recent Highlights Confirm Strong Strategy Execution Collaboration w. Leading Collaboration w. Afrigen Private Placement w. Closing of $15 Million Public Pharmaceutical Company Biologics Participation of MSD GHI Offering Pipeline expansion with EVX-B3, an Collaboration with the pharmaceu- Closing of
Slide 5: Our Strategy: Three-Pronged Business Model Based on AI-Immunology Platform
Our Strategy: Three-Pronged Business Model Based on Our Leading AI-Immunology™ Platform, Pursued via a Multi-Partner Approach The AI-Immunology™ Platform Targets Multi-partner approach focused around • Design and development of personalized single or multiple target discovery and and precision vacci
Slide 6: Multidisciplinary Capabilities and Validated Platform Create Differentiated Position
The Multidisciplinary Capabilities Around AI-Immunology™ and a Validated Platform Creates a Clear Differentiated Position Registration Disease Risk of failure/cost Value of platform Clinical Target Phase 3 identification Clinical Target validation EVAXION Phase 2 AI-Immunology™ Clinical Platform Ant
Slide 7: Strong Leadership with Extensive Experience Across All Relevant Fields
Strong Leadership with Extensive Experience Across All Relevant Fields Board of Directors • Marianne Søgaard Chair, former tech lawyer and equity partner • Roberto Prego Former Teva (head of Latin America) • Lars Holtug Certified Public Accountant Chief Executive Chief Financial & Chief AI & Culture
Slide 8: Addressing a $277 Billion and Growing Market for Cancer Immunotherapy
We Are Addressing a $277 Billion Increased Deal-Making Across and Growing Market for Cancer the Vaccine Space Immunotherapy Alone Cancer Cancer • Cancer immunotherapy market estimated to grow to $277 billion • Moderna-Merck partnership. Upfront 200M (2016) + option to by 2030* exercise $250M (Oct 20
Slide 9: Several Important Near-Term Milestones
Several Important Near-Term Milestones Milestones Target EVX-B1 Conclusion of final MTA study with potential partner Q1 2024 AI-Immunology™ Launch of EDEN™ model version 5.0 Mid 2024 EVX-B2-mRNA EVX-B2-mRNA preclinical Proof-of-Concept obtained Q3 2024 EVX-01 Phase 2 one-year readout Q3 2024 Conclus
Slide 10: Evaxion Is a Pioneering TechBio Company Based on AI-Immunology Platform
Evaxion Is a Pioneering TechBio Company Based on the Leading AI-Immunology™ Platform Founded in 2008 as an AI-Immunology™ company. Has extensively collected and applied data as well as refined and validated our AI platform for 15 years Three-pronged business model: Targets, Pipeline and Responders.
Slide 12: AI-Immunology - A Unique Differentiator with Interrelated AI Prediction Models
AI-Immunology™ - A Unique Differentiator with Interrelated AI Prediction Models and Leading Multidisciplinary Capabilities PIONEER™ patient-specific neoantigens R™ NEE EDEN™ O ED PI B-cell antigens EN ™ ™ EER ON PI gy Infe ObsERV™ o-oncolo ObsERV™ ctious Diseas patient-specific ERV antigens AI-Immun
Slide 13: Potential for Faster, Cheaper and Lower Risk Development of Novel Vaccines
Potential for Faster, Cheaper and Lower PIONEER™ Model Risk Development of PIONEER™ identifies the optimal neoantigens in a patients’ tumors for designing personalized cancer vaccines with the aim of eliciting an immune response that finds Novel Vaccines and kills cancer cells in the patient. Basic
Slide 14: Our AI-Immunology Platform and the Interrelated AI Prediction Models
Our AI-Immunology™ Platform and the Interrelated AI Prediction Models © Evaxion Biotech A/S. All rights reserved worldwide. Copenhagen, Denmark, 2024. 14
Slide 15: AI-Immunology Platform is Delivery Modality Agnostic
A Unique Differentiation: The AI-Immunology™ Platform is Delivery Modality Agnostic • We have demonstrated that a key to more effective vaccines is the Competitor landscape personalized neoantigen vaccines performance power of our AI platform and the quality of the therapeutic target Company Format
Slide 16: PIONEER and ObsERV Allow for Design of Personalized Cancer Vaccines
PIONEER™ and ObsERV™ Allow for Design of Personalized Cancer Vaccines • We have shown that in as little as 7 • PIONEER™ and ObsERV™ are GXP compliant, which weeks we can identify, manufacture may enable FDA approval as a part of the and deliver a completely manufacturing pipeline. Ultimately, we bel
Slide 17: EDEN and RAVEN Allow Rapid Discovery of Novel Infectious Disease Vaccine Targets
EDEN™ and RAVEN™ Allow for Rapid Discovery and Validation of Completely Novel Vaccine Targets for Infectious Diseases AI Identification of Vaccine Antigens in 24 Hours Inhouse Preclinical Validation and Development Data processed on a supercomputer with powerful Streamlined processes for preclinical
Slide 18: Decoding Immune System Processes Enables Scalability into Other Disease Areas
Decoding the Cellular Processes of the Immune System Will Enable Unique Scalability into Other Disease Areas ER IAL A CT SES B EA V DI S DI IRA SE AS L ER ES NC CA AUTO ASES AI-Immunology™ DISE IM M U PA RA NE S IT ES SI E IO O M S SB BI DY RO ALLERGIES IC © Evaxion Biotech A/S. All rights reserved
Slide 20: Demonstrating the Performance and Scalability of Our AI-Immunology Platform
Demonstrating the Performance and Scalability of Our AI- Immunology™ Platform © Evaxion Biotech A/S. All rights reserved worldwide. Copenhagen, Denmark, 2024. 20
Slide 21: EVX-01 Shows Overall Response Rate of 67% in Phase 1/2 Melanoma
EVX-01 in Combination with Standard Therapy Shows Overall Response Rate of 67% in Clinical Phase 1/2 in Patients with Metastatic Melanoma Study highlights • 12 patients in total, with 8 showing an objective response to treatment (ORR 67%) • 2 complete responders • Treatment: 6 biweekly EVX-01 inject
Slide 22: EVX-01 PIONEER Identified Targets Highly Correlate with Survival
EVX-01 - PIONEER™ Identified Vaccine Targets Highly Correlate with Survival High prediction score of neoantigens (n=6) (N=6) Low prediction score of neoantigens (n=6) • AI response prediction (PIONEER™ score) builds on the presence of high- Progression Free Survival Fraction of patients with quality
Slide 23: EVX-01 Induces a Dose-Dependent Immune Response
EVX-01 Induces a Dose- Dependent Immune Response against the Patients’ Cancer Neoantigen-specific T cells (SFU) • A higher dose induced higher neoantigen immune responses which may result in stronger tumor killing activity of EVX-01 • Specific immune responses against neoantigens identified by PIONE
Slide 24: EVX-01 Clinical Phase 1/2 Summary
EVX-01 – Clinical Phase 1/2 Summary With AI-Immunology™ identified targets we have demonstrated longer progression-free survival of patients Phase 1/2 Phase 2 High overall response rate with clinical Phase 2 initiated in metastatic response in all high dose group patients melanoma with high dose EVX
Slide 25: EVX-01 Phase 2 Trial Enrolling Patients in Australia/Europe
EVX-01 Phase 2 Trial Enrolling Patients in Australia/Europe Enrolled 16 patients with metastatic melanoma Conducted in collaboration with Merck & Co., Inc (MSD) EVX-01 Priming EVX-01 Boosting Production (To activate T-cells) (To maintain level of activated T-cells) Timeline for each W1 W12 W14 W16 W
Slide 26: EVX-02 Shows Positive Clinical Readout
EVX-02 - Evaxion’s First DNA-Based Positive Clinical Personalized Cancer Vaccine Shows Readout* Positive Clinical Readout Study Overview • All 10 EVX-02 completers were relapse-free at last assessment • Phase 1/2 clinical trial of EVX-02 + nivolumab (Opdivo™/standard of care) as adjuvant therapy aft
Slide 27: EVX-03 Believed To Be First Ever Personalized ERV Vaccine
EVX-03 – Believed To Be First Ever Personalized ERV Vaccine DNA-based personalized vaccine armed with molecular immune adjuvant, neoantigens and ERVs • Molecular immune adjuvant attracts antigen presenting cells and augments antigen presentation • The unique technology is fully owned, patent protect
Slide 28: EVX-03 Addition of ERVs Resulted in Very Promising Preclinical Data
EVX-03 - Addition of ERVs Resulted in Very Promising Preclinical Data ERV-Based DNA Vaccine Prevents High ERV Burden is Associated with Tumor Growth in a Preclinical Better Survival in Patients with Few Cancer Model Tumor Mutations (Low TMB) • ERVs are ancient viruses that have 700 integrated into t
Slide 29: EVX-B1 S. aureus Vaccine Candidate Demonstrates High Immunogenicity
EVX-B1 - S. aureus Vaccine Candidate Demonstrates High Immunogenicity and Significant Protection • Multi-component S. aureus vaccine Mouse sepsis model candidate for prevention of Skin and Soft Tissue Infections (SSTI) 100 EVX-B1 • Induction of high IgG titers and Adjuvant 80 potent T-cell response
Slide 30: EVX-B2 N. gonorrhoeae Vaccine Candidate Induces Significant Protection
EVX-B2 - N. gonorrhoeae Vaccine Candidate Induce Significant Protection and Shows Broad Neutralization Capacity Vaginal colonization model • Multi-component N. gonorrhoeae vaccine candidate containing two 106 Adjuvant top-ranked EDEN™ candidates EVX-B2 Bacterial burden (CFU) 105 • Significant protec
Slide 32: Intellectual Property Portfolio Broadly Covers AI and Vaccine Candidates
Evaxion’s Intellectual Property Portfolio Broadly Covers AI and Vaccine Candidates for Cancer and Infectious Diseases Evaxion Biotech A/S holds an extensive intellectual property (IP) portfolio The IP portfolio covers strategic parts of the AI-Immunology™ platform and compositions of matter, methods
Slide 34: Several Important Near-Term Milestones
Several Important Near-Term Milestones Milestones Target EVX-B1 Conclusion of final MTA study with potential partner Q1 2024 AI-Immunology™ Launch of EDEN™ model version 5.0 Mid 2024 EVX-B2-mRNA EVX-B2-mRNA preclinical Proof-of-Concept obtained Q3 2024 EVX-01 Phase 2 one-year readout Q3 2024 Conclus
Slide 35: Capital Structure
Capital Structure Listed on Nasdaq NY under ticker “EVAX” Date of listing: Feb 5, 2021 Headquarters Denmark Employees 40 Average Volume (3M) 59,203 Shares outstanding 52 M MSD GHI ownership 11% Cash Jan. 29 2024 (USD) 7.7 M Capital raised (USD) 107 M Fully diluted share count 134 M Debt (USD) 8 M (l
Slide 36: Recent Deals / Partnerships - Overview
Recent Deals / Partnerships - Overview MSD GHI - Discovery Partnership Afrigen - mRNA Gonorrhea Vaccine Welcome MSD GHI as New Partner Description Description Description • Discovery partnership with MSD • Discovery partnership to design and • In the recent private placement, MSD around undisclosed
Slide 37: Strategy Summary
Strategy Summary The AI-Immunology™ Platform Targets Multiple partnerships in place, several partner • Design and development of personalized discussion ongoing. Dealmaking capacity and precision vaccine candidates being enhanced • AI prediction models trained in cancer and infectious diseases Pipel
Slide 38: Thank You
LinkedIn: CEO Christian Kanstrup evaxion-biotech.com Evaxion Biotech A/S cka@evaxion-biotech.com Thank You AI-ImmunologyTM Powered Vaccines
Slide 40: Our Promise When Going Public / Our Achievement
OUR PROMISE WHEN OUR GOING PUBLIC ACHIEVEMENT To become a world leader in With AI-Immunology™ identified AI-Immunology™ decoding targets we have demonstrated the human immune system for Our improved Progression-Free effective AI-powered vaccines Survival of patients in a clinical development setting

Evaxion Biotech — Investor Presentation (February 2024) on 6ix

Evaxion A/S — Evaxion Biotech — Investor Presentation (February 2024)

Slide 1: AI-Immunology Powered Vaccines

Slide 2: Forward-Looking Statement

Slide 3: Executive Summary

Slide 4: Recent Highlights Confirm Strong Strategy Execution

Slide 5: Our Strategy: Three-Pronged Business Model Based on AI-Immunology Platform

Slide 6: Multidisciplinary Capabilities and Validated Platform Create Differentiated Position

Slide 7: Strong Leadership with Extensive Experience Across All Relevant Fields

Slide 8: Addressing a $277 Billion and Growing Market for Cancer Immunotherapy

Slide 9: Several Important Near-Term Milestones

Slide 10: Evaxion Is a Pioneering TechBio Company Based on AI-Immunology Platform

Slide 11: The AI-Immunology Platform

Slide 12: AI-Immunology - A Unique Differentiator with Interrelated AI Prediction Models

Slide 13: Potential for Faster, Cheaper and Lower Risk Development of Novel Vaccines

Slide 14: Our AI-Immunology Platform and the Interrelated AI Prediction Models

Slide 15: AI-Immunology Platform is Delivery Modality Agnostic

Slide 16: PIONEER and ObsERV Allow for Design of Personalized Cancer Vaccines

Slide 17: EDEN and RAVEN Allow Rapid Discovery of Novel Infectious Disease Vaccine Targets

Slide 18: Decoding Immune System Processes Enables Scalability into Other Disease Areas

Slide 19: The AI-Immunology Powered Vaccine Pipeline

Slide 20: Demonstrating the Performance and Scalability of Our AI-Immunology Platform

Slide 21: EVX-01 Shows Overall Response Rate of 67% in Phase 1/2 Melanoma

Slide 22: EVX-01 PIONEER Identified Targets Highly Correlate with Survival

Slide 23: EVX-01 Induces a Dose-Dependent Immune Response

Slide 24: EVX-01 Clinical Phase 1/2 Summary

Slide 25: EVX-01 Phase 2 Trial Enrolling Patients in Australia/Europe

Slide 26: EVX-02 Shows Positive Clinical Readout

Slide 27: EVX-03 Believed To Be First Ever Personalized ERV Vaccine

Slide 28: EVX-03 Addition of ERVs Resulted in Very Promising Preclinical Data

Slide 29: EVX-B1 S. aureus Vaccine Candidate Demonstrates High Immunogenicity

Slide 30: EVX-B2 N. gonorrhoeae Vaccine Candidate Induces Significant Protection

Slide 31: Intellectual Property

Slide 32: Intellectual Property Portfolio Broadly Covers AI and Vaccine Candidates

Slide 33: Corporate Summary

Slide 34: Several Important Near-Term Milestones

Slide 35: Capital Structure

Slide 36: Recent Deals / Partnerships - Overview

Slide 37: Strategy Summary

Slide 38: Thank You

Slide 39: Appendices

Slide 40: Our Promise When Going Public / Our Achievement