On May 28, 2020, Vaxxas announced that Merck had exercised its option to utilize Vaxxas’ proprietary High Density Microarray Patch (HD-MAP) platform for a vaccine candidate. Merck also retained an option to license the HD-MAP technology for two additional vaccines.

Under the collaboration agreement, originally signed in 2012, through the exercise of this option MSD gains exclusive worldwide rights to develop and commercialize an undisclosed vaccine utilizing Vaxxas’ HD-MAP technology. Vaxxas will receive US$12 million (A$18 million) in a combination of equity funding and option fees associated with the agreement. In addition, Vaxxas is eligible to receive future option, development, and commercial milestone payments. MSD will fund any requested additional research activities conducted by Vaxxas and is responsible for clinical development.

Vaxxas is a privately held biotechnology company focused on enhancing the performance of existing and next-generation vaccines with its proprietary HD-MAP technology platform, which uses an ultra-high density array of projections – invisible to the naked human eye – applied to the skin to rapidly deliver vaccine to the abundant immune cells immediately below the skin surface. Vaxxas core technology was developed at the University of Queensland