EU Boosts Evaxion’s Artificial Intelligence Vaccine Research
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.
The European Investment Bank (EIB) has signed a €20 million loan agreement with Evaxion. It is supported by the Infectious Diseases Finance Facility window under the EU’s InnovFin – EU finance for innovators programme.
The project is also backed by the EU’s research and innovation programme Horizon 2020, which guarantees EIB loans for highly innovative projects.
The financing will support Evaxion’s research and development (R&D) investments in the use of artificial intelligence (AI) to determine the most suitable targets for immunotherapies for cancer and infectious diseases.
The main focus of the research, Evaxion’s proprietary AI-based platforms, could potentially transform the drug discovery process for vaccines and immunotherapies. The EU financing will support the investments in Evaxion’s AI platforms, as well as its pre-clinical and clinical activity.
The project not only strengthens European R&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, according to EIB, 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.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States.