Dr. Rønø has developed Evaxion's pre-clinical and early clinical oncology pipeline
Newly-created Chief Scientific Officer role strengthens Evaxion's leadership team

COPENHAGEN, Denmark, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Evaxion Biotech A/S (NASDAQ:EVAX) ("Evaxion" or the "Company"), a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies to improve the lives of patients with cancer, bacterial diseases and viral infections, announced today it has promoted its Senior Director, Immuno-Oncology, Birgitte Rønø, Ph.D, to the newly-created position of Chief Scientific Officer, effective immediately.

Lars Wegner, CEO of Evaxion, said: "As Senior Director of Evaxion's Cancer Immunotherapy, Birgitte Rønø played a critical role in the development of Evaxion's pre-clinical and early clinical oncology pipeline. Her appointment as CSO is a well-deserved recognition of her achievements, and she will now take on additional responsibilities to further expand the scientific foundations of Evaxion to advance the development of our pipeline. The CSO position is a new one within Evaxion's leadership team and comes at a key time for the Company, as we continue to make encouraging progress in the clinic, with two of our lead product candidates expected to advance into Phase 2b trials, one in late 2021 and the other in the first half of 2022."

Dr. Rønø has more than 15 years' experience in biopharmaceutical drug discovery, both in academia and industry. Prior to joining Evaxion, Dr. Rønø served as a specialist, team leader and project manager at Novo Nordisk A/S, where she led early drug discovery projects, evaluated in-licensing opportunities, and supported drug development projects with pre-clinical and biomarker expertise.

Birgitte Rønø, CSO of Evaxion, said: "I am very excited to take up my new role as CSO at Evaxion. Having already worked at the company for more than four years, I am intimately familiar with Evaxion's AI-driven immunotherapies and I am looking forward to taking on a leadership role, as we continue to develop these innovative drug discovery processes to improve the lives of patients."

Dr. Rønø holds a Bachelor's Degree in Medicine and a Master's Degree in Human Biology, both from the University of Copenhagen, Denmark. She received her Ph.D in Experimental Oncology and Immunology from the National Institutes of Health, Bethesda, USA and Copenhagen University Hospital, Denmark.

About Evaxion

Evaxion Biotech A/S is a clinical-stage AI-immunology™ platform company decoding the human immune system to discover and develop novel immunotherapies to treat cancer, bacterial diseases and viral infections. Based on its proprietary and scalable AI-immunology core technology, Evaxion is developing a broad pipeline of novel product candidates which currently includes three patient-specific cancer immunotherapies, two of which are in Phase 1/2a clinical development, both of which are expected to advance into Phase 2b trials, one in late 2021 and the other in the first half of 2022. In addition, Evaxion is advancing a portfolio of vaccines to prevent bacterial and viral infections currently in preclinical development.

For more information
Evaxion	LifeSci Advisors LLC
Glenn S. Vraniak	Corey Davis, Ph.D.
Chief Financial Officer	Managing Director
gvr@evaxion-biotech.com	cdavis@lifesciadvisors.com
+1 (513) 476-2669	212-915-2577

Source: Evaxion Biotech

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This announcement contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this announcement regarding the Company's future operations, plans and objectives are forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this announcement about future events are subject to (i) change without notice and (ii) factors beyond the Company's control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as "target," "believe," "expect," "hope," "aim," "intend," "may," "might," "anticipate," "contemplate," "continue," "estimate," "plan," "potential," "predict," "project," "will," "can have," "likely," "should," "would," "could," and other words and terms of similar meaning or the negative thereof. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors, including but not limited to: risks associated with the Company's financial condition and need for additional capital; risks associated with the Company's development work; cost and success of the Company's product development activities and preclinical and clinical trials; risks related to commercializing any approved pharmaceutical product developed using the Company's AI platform technology, including the rate and degree of market acceptance of the Company's product candidates; risks related to the Company's dependence on third parties including for conduct of clinical testing and product manufacture; risks associated with the Company's inability to enter into partnerships; risks related to government regulation; risks associated with protection of the Company's intellectual property rights; risks related to employee matters and managing growth; risks related to the Company's ADSs and ordinary shares, risks associated with the pandemic caused by the coronavirus known as COVID-19 and other risks and uncertainties affecting the Company's business operations and financial condition.

Forward-looking statements are subject to inherent risks and uncertainties beyond the Company's control that could cause the Company's actual results, performance, or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the Company's business in general, see the risks described in the "Risk Factors" section included in the Company's Form 20-F for the year ended December 31, 2020 and the Company's other reports filed with, or submitted to, the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements contained in this announcement speak only as of the date hereof, and except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.

Evaxion Biotech Appoints Dr. Birgitte Rønø as Chief Scientific Officer