Evaxion Biotech A/S announces successful close of USD 15 Million Public Offering

Mazanti-Andersen is pleased to have advised long-term client Evaxion Biotech A/S (NASDAQ: EVAX), in the completion of its recent public offering involving the sale of 3,750,000 American Depositary Shares (ADSs) and accompanying warrants raising USD 15 million in gross proceeds. 

Evaxion is a pioneering TechBio company committed to transforming patients' lives by providing innovative and targeted treatment options for cancer, bacterial diseases, and viral infections. Based upon its AI-platform AI-Immunology™ Evaxion has developed a clinical-stage oncology pipeline of novel personalised vaccines and a preclinical infectious disease pipeline in bacterial and viral diseases with high unmet medical needs.

The offering, priced at USD 4.00 per ADS, with warrants exercisable immediately at the same price, closed on 5 February 2025 and marks a significant milestone in Evaxion's financing strategy. 

MSD Global Health Innovation Fund, a corporate venture capital arm of Merck & Co., Inc., who became an Evaxion shareholder om December 2023, participated in the offering, reflecting investor confidence in Evaxion's innovative approach.

The net proceeds from the transaction will be utilised to advance Evaxion's preclinical and clinical pipeline, and for continuing operating expenses and working capital.

H.C. Wainwright & Co. served as the exclusive placement agent for the offering.

Mazanti Transactions advised Evaxion Biotech in connection with the transaction with a team led by Lars Lüthjohan, showcasing the firm's expertise in managing significant transactions within the life science sector.