Evaxion A/S

Thank you for joining us for Evaction's business update following the reporting of our 2025 full year financial results yesterday. And apologies that this call is 24 hours later than we anticipated, but for technical reasons, we're delighted to be here today. My name is Helen Tate and I am honored to be leading this call for the first time as Evaction's CEO. We'll move to the first slide. Okay. So on today's call, we will review the achievements of 2025 and touch on the milestones we anticipate for 2026. Our chief scientific officer, Brigitte Renaud, will then walk through our key R&D updates from the year, including the latest innovations from our AI immunology platforms, after which our CFO, Thomas Schmidt, will walk through our 2025 financial results before we close with a few concluding remarks and take questions. Right, moving to the next slide. And of course, our comments and presentation today may contain forward-looking statements, and all participants on today's call are referred to our filed SEC statements, and specifically, our most recent 20th Annual Report for 2025 filed yesterday. So moving to the next slide, I will start with our 2025 achievements

our 2026 milestones.

In 2025, we were very pleased to report tremendous progress across all pillars of the company. First of all, in business development, we were delighted with the progress in our collaboration with MSD and our infectious disease portfolio, with the decision by Merck to exercise its option over our EVX B3 program candidates. Whilst the target for this programme is not disclosed, we are very proud that this represents the first in licensing to our knowledge of an infectious disease vaccine candidate identified and validated to an AI discovery platform. Whilst MSD chose not to exercise its option over our EVXB2 candidate in Gonorrhea, we remain very excited about the data and the prospects for this programme, over which we have retained full rights and have seen significant interest. We were also pleased to enter into a collaboration with the Gates Foundation on the design of a new polio vaccine and are also seeing significant interest in our platform of pipeline programs more broadly from a number of parties. In R&D, we were very pleased to be able to present very positive two-year phase two data at ESMO on our EVX01 program with a personalized neoantigen directed cancer vaccine in advanced melanoma patients. We also presented preclinical data at ASH on our first cancer vaccine to a shared antigen directed to a conserved endogenous retroviral or EBR element that we have identified in AML patients with our EVXO4 program. In our infectious disease portfolio, we were also able to move forward a new program with candidates identified from our AI immunology platform against Group A Streptococcus. On the platform The team has continued to innovate and use the platform to not only identify optimal vaccine candidates, but improve their design biology for product delivery for us in our new automated module. And Begita will touch on all of these achievements shortly. We were also honored by the recognition of our AI immunology platform by the Galien Foundation for AI advances in human health. And finally, we were very pleased to see the capital influx to the business last year through financing, business development, and the use of our ATM, which now gives us action a cash run way to the second half of twenty twenty seven. And Thomas will talk more to this later. So moving to the next slide. Just as a reminder. I've action has built a broad, novel product versus pipeline of assets from its unique immunology platform, clinically validated with the cancer vaccine space without the XO1 peptide based vaccine in advanced melanoma. but supported by assets and data on DNA and RNA platforms, and together with a preclinical pipeline of infectious disease vaccine candidates focused on challenging targets remaining intractable with conventional approaches and subject to significant medical need. On to the next slide. This unique capability with AI immunology is something that we have also begun to investigate within the autoimmune field, given a wider range of diseases driven by autoimmune attacks. and the direct applicability of our platform to focus on immune mechanisms in disease. Autoimmune diseases affect over 14 million patients annually in the US and are characterized by chronic debilitating conditions with treatment options focused primarily on the symptoms rather than the underlying cause of disease. Moving on to the next slide. This is why we believe our AI immunology platform is strongly positioned to focus on underlying disease mechanisms with greater specificity to identify autoimmune disease targets, which can be approached in different ways. There'll be more to come on this later in the year. And finally, in the next slide, turning to our 2026 milestone, this year we will be updating on our EVX01 program with additional biomarker and immunogenicity data, AACR. and then the clinical data, three-year data, later towards the end of the year. We will be talking more about the autoimmune applications of our AI immunology platform and bringing forward data on our new EVXB4 candidates in Group A Streptococcus in the second half of the year. And finally, be ready to submit our regulatory application for our next EVXO4 candidate for the shared herb antigens in AML by the end of the year. And throughout, we remain committed to deriving value from both our platform and our pipeline assets through partnership for our shareholders and patients. I'll now hand over to Birgitta to update you further on our R&D achievements.