Evaxion Biotech (EVAX) shares gained roughly 17% in early trade on Thursday after the company announced an expansion of its vaccine development collaboration with MSD (NYSE:MRK) (tradename of Merck & Co.

Evaxion Biotech A/S (NASDAQ:EVAX) inked an option and licensing deal with Merck & Co., Inc (NYSE:MRK) for two preclinical vaccine candidates. Evaxion also granted Merck an option to license preclinical vaccine candidates EVX-B2 and EVX-B3.

Danish clinical-stage AI-based vaccine developer Evaxion Biotech (Nasdaq: EVAX) has entered into an option and license agreement with MSD (tradename of Merck & Co [NYSE: MRK] outside of the USA and Canada),