2023-08-01 18:00:01 ET
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Evaxion Biotech ( EVAX ) has entered into a binding agreement for a financing of up to US$20 million with Negma Group, the company said Tuesday.
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The company can avail financing in tranches of up to US$700,000 over a period of 36 months.
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The financing commitments are intended to cover the company’s working capital needs, including the ongoing clinical phase 2 trial of EVX-01 and the advancement of EVX-03 towards the initiation of a Phase 1 clinical trial.
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The company said the financing could extend its runway into Q4 2024.
For further details see:
Evaxion gets $20M financing from Negma