December 9, 2020 -- The European Investment Bank (EIB) has signed a loan for 20 million euros ($24.1 million U.S.) with Evaxion Biotech to support artificial intelligence (AI) vaccine research.
Evaxion will use the loan to fund research and development for the use of artificial intelligence to determine the most suitable targets for immunotherapies for cancer and infectious diseases. The research could transform the drug discovery process for vaccines and immunotherapies, including those programs targeting Staphylococcus aureus and Pseudomonas aeruginosa.
The move is supported by the Infectious Diseases Finance Facility window under the European Union's (EU) finance for innovation program InnovFin, which provides loans for innovative projects.
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