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| And that's why we refer to EVX-03 as a next-generation personalized cancer vaccines with potential for superior effect |
| We're obviously really enthusiastic about these results |
| The vaccine was well tolerated in all patients and induced a new antigen-specific T cell immune response in all patients, which can be seen as a proof of mechanism for our DNA vaccine technology |
| So, the vaccine is administered as DNA and then translated to neoantigens in the patients, and the results look very promising |
| It's better than you would expect from PD-1 alone, and it speaks to the strength of our AI technology in selecting the right neoantigens for personalized cancer vaccine |
| So, in conclusion, I'm very happy about the progress and believe we have potential to develop vaccines that may truly improve the treatment of cancer as well as the prevention of infectious disease around the world |
| The treatment was well tolerated |
| Swayampakula Ramakanth Really good |
| During the call, I will provide you with a brief overview of the excellent progress we made across our pipeline and on our core AI technologies over the past six months |
| We will also show the early-stage clinical data reported on AACR 2023 and ASCO23, indicating that patients treated with our vaccines, EVX-01 or EVX-02, in combination with the checkpoint inhibitor experienced a treatment benefit and with good overall tolerability |
| And notably, that it can be broadened -- we can broaden the target population quite significantly |
| Hopefully, we can also expand the target group quite significantly |
| And the consequence of this is that the genetic adjuvant attracts immune cells to the vaccination site, which is thought to make the vaccine much more effective |
| Thomas Flaten Excellent |
| Thomas Flaten Excellent |
| One upgrade is the addition of a genetic immune adjuvant, which aims to boost the immune system risk, immune response to the vaccine |
| EVX-03 is the first-ever personalized ERV cancer vaccine |
| So -- and these ERVs, they are selected based on likelihood to induce a strong immune response, given that they are relatively long foreign peptides that can be actually quite a large number of epitopes on each Europe, so we can find a very, say, high-quality antigens whenever we find a strong expression of these ERVs in patients |
| So we believe that EVX-03 may be more effective than current vaccines that are based only on neoantigens |
| But we are in this trial looking for producing a fully personalized vaccine towards ERVs, and that's really where we are unique |
| Ahu Demir Good morning and good afternoon |
| Good morning and good afternoon, everyone |
| So, we try to pick the best from both worlds |
| I will start with our recent communication on our staphylococcus aureus vaccine EVX-B1, where we were pleased to present preclinical proof-of-concept data showing that the vaccine candidate can clear staphylococcus infections |
| And then it will be complemented by strong ERVs at the same time |
| With that said, I'm pleased to welcome you to today's conference call |
| The red line shows the survival in patients with few ERVs whereas the blue line shows the longer survival in patients with a lot of ERVs, presumably because such tumors with a lot of ERVs are more likely to be attacked by the immune system, and hence, the better survival |
| And these ERVs, of course, ideal targets for the immune system |
| Swayampakula Ramakanth Thank you |
| Swayampakula Ramakanth Thank you |
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| Per Norlen That's a very good question, I think, because this is really the key challenge with neoantigens that you need a lot of mutations in order to find enough high-quality neoantigens to make a vaccine |
| Research and development decreased by $1.2 million or about 29% compared to the same period last year |
| Further, a decrease we've seen in employee-related costs of $0.5 million due to reduced headcount in personnel |
| The net loss for Q2 2023 amounted to a loss of $5.7 million compared to a loss of $4.8 million for the same period last year |
| So, sorry if that was confusing |
| Two questions from us |
| Because forward-looking statements involve risks and uncertainties, they are not guarantees of future performance, and actual results may differ materially from those expressed or implied by these forward-looking statements due to a variety of factors, including those risk factors discussed in the company's annual report Form 20-F and the company's current and future reports submitted to the Securities and Exchange Commission, SEC |
| But as you say, we have recruited patients, but we have also reduced the size of the trial |
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