Exhibit 99.1

4 April 2025

NOTICE OF ANNUAL GENERAL MEETING

EVAXION BIOTECH A/S

30 APRIL 2025 AT 14:00 (CEST)

The board of directors hereby convenes the annual general meeting of Evaxion Biotech A/S, company registration (CVR) no. 31 76 28 63 (the "Company"), to be held on

30 APRIL 2025 AT 14:00 (CEST)

at Evaxion Biotech A/S, Dr Neergaards Vej 5F, 2970 Hørsholm, Denmark.

AGENDA

COMPLETE PROPOSALS

The board of directors proposes that attorney-at-law Lars Lüthjohan be elected as chairman of the general meeting.

Chairman Marianne Søgaard will report on the Company’s activities for the year ended Decem-

ber 31, 2024.

The board of directors recommends that the Company's audited annual report for the financial year 2024 be approved. The audited annual report is available on the Company's website.

The board of directors proposes that the loss be carried forward to the next financial year.

The board of directors currently consists of the following members: Marianne Søgaard (chair- man), Lars Holtug, Lars Aage Staal Wegner and Roberto Prego Pineda.

The board of directors proposes the re-election of Marianne Søgaard, Lars Holtug, Lars Aage Staal Wegner and Roberto Prego Pineda.

Furthermore, the board of directors proposes that Helen Tayton-Martin is elected as new mem- ber of the board of directors, so that, if decided by the shareholders, the board of directors will consist of the following members:

Marianne Søgaard (chairman)

Lars Holtug

Lars Aage Staal Wegner

Robert Prego Pineda

Helen Tayton-Martin

A description of the proposed candidates’ qualifications, hereunder information about similar positions possessed by the candidates at the time of the annual general meeting can be found in appendix 1 attached hereto.

The board of directors proposes that EY Godkendt Revisionspartnerselskab, CVR no. 30 70 02 28, be re-elected as the auditor of the Company.

7a – Proposal from the board of directors - new name

The board of directors proposes changing the Company’s name to “Evaxion A/S” and proposes that “Evaxion Biotech A/S” is adopted as new secondary name of the Company.

The board of directors specifically proposes that the existing article 1.1 is amended as follows:

“The name of the company is Evaxion A/S. The company also carries on business under the

secondary names Evaxion Biotech A/S and NovVac A/S.”

7b – Proposal from the board of directors – proposal to authorize the board of directors to issue warrants

The board of directors proposes to amend the articles of association by increasing the current authorization in article 2.11 of the articles of association to issue warrants to investors, lenders, consultants and/or advisors that confer the right to subscribe shares for a nominal value of DKK 59,921,500 calculated as of the date of this convening notice up to nominal DKK 100,000,000. The board of directors specifically proposes that the existing authorization in article 2.11 is amended as follows:

“The board of directors is until 15 April 2029 authorized at one or more times to issue warrants to investors, lenders, consultants and/or advisors in the company or its subsidiaries entitling the holder to subscribe for shares for a total of up to nominal value of DKK 100,000,000 without pre-emptive subscription rights for the company's shareholders. The exercise price for the warrants issued according to this authorization shall at the time of issuance be determined by the board of directors at market price or at a discount price. The board of directors shall de- termine the terms for the warrants issued and the distribution hereof.

At the same time, the board of directors is authorized until 15 April 2029 at one or more times to increase the company's share capital with up to nominal value of DKK 100,000,000 without pre-emptive rights for the company's shareholders by cash payment in order to implement the capital increase related to exercise of warrants. In accordance with this clause the board of directors may increase share capital with a minimum nominal value of DKK 0.25 and a maxi- mum nominal value of DKK 100,000,000. The board of directors is authorized to make the required amendments to the articles of association if the authorization to increase the share capital is used and to cause such shares to be deposited with a depositary bank and the sim- ultaneous issuance of American Depositary Shares.

The shares issued based on exercise of warrants shall be non-negotiable instruments issued in the name of the holder and registered in the name of the holder in the company's register of shareholders. The shares shall be subject to the same restrictions on transferability as the existing shares of the company and no shareholder shall be obliged to have the shares re- deemed fully or partly. No partial payment is allowed. The shares shall be with the same rights as the existing share capital and shall not belong to a specific share class. The shares shall give rights to dividends and other rights in the company from the time of registration of the capital increase with the Danish Business Authority.”

7c - Proposal from the board of directors - proposal to authorize the board of directors to increase the share capital

The board of directors proposes to amend the articles of association by increasing the current authorization in article 3.1 of the articles of association to increase the company’s share capital without pre-emptive subscription rights for the company’s shareholders and increase the share capital from a nominal value of DKK 18,017,977.50 calculated as of the date of this convening notice up to nominal value DKK 100,000,000.

The board of directors specifically proposes that the existing authorization in article 3.1 is amended as follows:

“The board of directors is until 1 May 2027 authorized at one or more times to increase the company’s share capital by up to nominal DKK 100,000,000 without pre-emptive subscription rights for the company’s shareholders. Capital increases according to this authorization must be carried out by the board of directors by way of cash contributions. The shares may be issued at market price or at a discount to the listed price of the ADSs as determined by the board of directors. The board of directors is authorized to make the required amendments to the articles of association if the authorization to increase the share capital is used and to cause such shares to be deposited with a depositary bank and the simultaneous issuance of American Depositary Shares representing such shares.

For shares issued pursuant to this section 3.1 the following shall apply: The new shares shall be non-negotiable instruments issued in the name of the holder and registered in the name of the holder in the company's register of shareholders. The new shares shall be subject to the same restrictions on transferability as the existing shares of the company and no shareholder shall be obliged to have the shares redeemed fully or partly. No partial payment is allowed. The shares shall be with the same rights as the existing share capital and shall not belong to a specific share class. The shares shall give rights to dividends and other rights in the company from the time of registration of the capital increase with the Danish Business Authority.”

The board of directors proposes to authorize the chairman of the meeting (with a right of substitution) on behalf of the Company to apply the Danish Business Authority for registration of the resolutions passed by the General Meeting and in this connection to make any such amendments to the documents prepared for such resolutions that may be required for regis- tration with the Danish Business Authority.

Hørsholm, Denmark, 4 April 2025

The board of directors of Evaxion Biotech A/S

Marianne Søgaard

Chairman of the board of directors

Further information

Adoption requirements

The proposal under the agenda’s item 7a may be adopted by a majority of not less than two thirds of all votes cast and of the share capital represented at the general meeting.

The proposals under agenda item 7b and 7c may be adopted by a majority of not less than nine tenths of all votes cast and of the share capital represented at the general meeting. 

The proposals contained in items 1, 3-6 and 8 may be adopted by a simple majority of the votes cast.

Share capital and voting rights

The Company's nominal share capital currently amounts to DKK 78,957,151.50 divided into 315,828,606.00 shares of DKK 0.25 nominal value. At the annual general meeting, each share carries one vote.

The right of a shareholder to attend the annual general meeting and to vote in respect of his/her shares is determined on the basis of the shares held by the shareholder at the record date. The shareholdings and voting rights are calculated on the basis of entries in the register of shareholders and any notice of own- ership received by the Company for the purpose of registration in the register of shareholders.

The record date is 23 April 2025. 

Furthermore, participation is conditional upon the shareholder having timely notified the Company of his/her attendance as described below.

Attendance and admission

Shareholders, proxies and any accompanying advisor wishing to attend the annual general meeting in person must have an admission card. Admission cards may be ordered on the website of Computershare A/S: www.computershare.com.

Admission cards must be ordered no later than 25 April 2025 at 23:59 (CEST).

Proxy

Shareholders can vote by proxy no later than 25 April 2025 at 23:59 (CEST). 

The proxy can be submitted in writing by using the proxy form which is attached to the convening notice and can be downloaded from the Company's website: www.evaxion.ai. If the form is used, it must be completed, signed and forwarded to Computershare A/S, Lottenborgsvej 26 D, 1st floor, DK-2800 Kgs. Lyngby, Denmark, by mail. Computershare must receive completed proxy forms no later than 25 April 2025 at 23:59 (CEST).

Proxies may also be granted electronically on the website of Computershare, www.computershare.dk, by using a Computershare username and password. Usernames and passwords will be sent to all shareholders by email. Electronic proxies must be granted no later than 25 April 2025 at 23:59 (CEST).

Votes by correspondence

Shareholders can vote by correspondence no later than 29 April 2025 at 12:00 (noon) (CEST).

The vote by correspondence can be submitted in writing by using the correspondence form which is at- tached to convening notice and can be downloaded from the Company's website: www.evaxion.ai. If the form is used, it must be completed, signed and forwarded to Computershare A/S, Lottenborgsvej 26 D, 1st floor, DK-2800 Kgs. Lyngby, Denmark, by mail.

Electronic voting

It is also possible to vote electronically on the website of Computershare A/S, www.computershare.dk, by using a Computershare username and password.

Additional information

On the Company's website, www.evaxion.ai, the following information is available:

The convening notice will also be forwarded in writing to all shareholders recorded in the register of share- holders who have requested such notification.

The annual general meeting will be conducted in English according to section 4.8 of the Company's articles of association.

APPENDIX 1

Information about the proposed candidates

The information on the following pages describes the competencies and directorships with other Danish and foreign listed and unlisted companies and organizations as disclosed by the board member candidates.

Marianne Søgaard

Chairman

Marianne Søgaard (born 1968, Danish nationality) has been a member of the board of directors of the Company since 2020 and is the chairperson of the board of directors. Marianne Søgaard joined the Com- pany in 2018 as an executive and legal advisor, and in November 2020, she was elected and became the chairperson of the board of directors.

In 1996, Marianne Søgaard joined Kammeradvokaten/Law Firm Poul Schmith, where she worked for more than 20 years as a lawyer, primarily specializing in technology law. She was certified as a technology lawyer and focused on legal aspects of acquiring technology solutions and optimizing related processes. For more than 17 years, Ms. Søgaard was a partner at Kammeradvokaten/Law Firm Poul Schmith, and from January 2014 to March 2017, she served on the board of directors of the law firm.

In 2022, Marianne Søgaard was appointed as a member of Statens IT-Råd

Marianne Søgaard received her Master of Law degree from Aarhus University in 1993. Current directorships in other companies:

− Garbanzo ApS

− PiiGuard ApS

− Svend Jansen A/S

− Flowering ApS

Lars Holtug

Board member

Lars Holtug (born 1958, Danish nationality) has been a member of the board of directors of the Company since 2021.

Mr. Holtug was a partner at PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab (PwC), from 1993 to 2015.

Previously, Mr. Holtug was Chairman of PwC in Denmark from 2005 to 2009. From 2004 to 2015, Mr. Holtug was a member of the Danish Commercial Appeals Board (Erhvervsankenaevnet) and a board mem- ber of the Danish Company law association (Dansk Forening for Selskabsret). He was also a member of the Accounting Standards Board of the Federation of State Authorized Accountants in Denmark (Foreningen af Statsautoriserede Revisorer) from 1998 to 2002, and a member of the Auditing Standards Board from 1993 to 1998.

Mr. Holtug holds an M.Sc. from Copenhagen Business School and is educated as a state authorized public accountant in Denmark.

Current directorships in other companies:

Lars Aage Staal Wegner

Board member

Lars Aage Staal Wegner (born 1974, Danish nationality) was elected to the board of directors of the Com- pany in 2024. Lars Aage Staal Wegner was CEO of the Company in the period from 2017 – 2023.

Lars Aage Staal Wegner started his career in 2002 as a medical clinical practitioner before joining Pfizer, Denmark and Pfizer European Oncology team in 2006 as a Brand Manager Oncology, Medical Advisor Oncology. In 2007, Lars Aage Staal Wegner joined Bavarian Nordic, Denmark, as Director Global Business Development and Commercial Affairs. In 2010, Lars became Vice President, Global Business Development and Commercial Affairs of Bavarian Nordic until joining Evaxion in 2017.

Lars was in 2023 a founding general partner of Bristlecone Pacific Venture, a venture fund.

Lars Aage Staal Wegner is M.Sc. in Medicine (2001, University of Southern Denmark). He has attended a Senior Executive Program at IMD and Leadership and Decision-Making Programs at Harward Business School.

Current board directorships in other companies:

− Turbine (Chairman)

− Pll Guard (Chairman)

− Qlife

− Hudson Nordic

Roberto Prego Pineda

Board member

Roberto Prego (born 1970, Venezuela and USA nationality) has been a member of the board of directors of the Company since 2018.

Roberto Prego has over 20 years of pharmaceutical experience and was one of our first outside investors. Mr. Prego was with Teva Venezuela as its General Manager from 1998 to 2012 and as head of the Latin American Region for Teva from 2011 to 2015. Since 2015, he has served as the General Manager of Viax Dental Technologies, a research and development venture firm in the dental field.

Roberto Prego has a B.Sc. in Economics from Universidad Católica Andrés Bello in Caracas, Venezuela and an MBA from Fuqua School of Business at Duke University.

Mr. Prego currently does not have any directorships in other companies.

Helen Tayton-Martin

New board member

Helen Tayton-Martin (born 1967, British nationality) is proposed to be elected to the board of directors of the Company in 2025.

Helen started her career in 1992 as a clinical research associate at Chiltern International, UK. In 1993 she became Clinical Projects Associate at Pasteur Merieux Connaught, UK. In 1994 she joined Sandoz Clinical Development Centre, UK, as an International Study Manager. From 1995 – 2003 Helen was Senior Con- sultant at Technomark Medical Ventures, UK, and from 2004 – 2005 a part-time Technology Business Development Consultant at London Technology Network, UK. In 2005 Helen joined Allevia AG, Switzerland, as a part-time Corporate Development Officer and the year she joined Avidex Ltd./MediGene Ltd., UK, as a Senior Business Development Officer. From 2008 Helen was COO of Adaptimmune Ltd., UK, and from 2011 - 2014 a Co-Founder and Board Member of Adaptimmune LLC, USA. From 2014 – 2017 Helen held the position at Adaptimmune Therapeutics plc, Oxford & Philadelphia as COO/Co-Founder and since 2017 a position as Chief Business Officer/Co-Founder.

Helen Tayton-Martin has a B.Sc. Honours Degree in Physiology & Biochemistry from University of Reading in 1985. She has a PhD in 1992 from University of Bristol and Agricultural Food Research Institute (AFRC) for Animal Health, UK. In 2004 she took an Executive MBA from London Business School, UK.

Current board directorships in other companies:

− None

 14

Exhibit 99.2

The Annual General Meeting of Evaxion Biotech A/S will be held on 30 April 2025 at 2:00 pm (CEST) at Evaxion Biotech A/S, Dr. Neergaards Vej 5F, 2970 Hørsholm, Denmark 

Request admission card

Admission cards may be requested and proxies nominated electronically via the Evaxion Biotech’s shareholder

portal, please click here.

Alternatively, you may complete and send the form to Computershare A/S via email to gf@computershare.dk or by post no later than 25 April 2025 at 11:59 pm (CEST).

If you submit your request for an admission card electronically, you will receive a confirmation instantly.

PLEASE TICK:

☐ I wish to attend the general meeting and hereby request an admission card.

☐ I also request an admission card for a companion/advisor:

Name and address (please use capital letters)

Nomination of proxy and voting by correspondance

Please complete the proxy and vote by correspondence form separately. Nomination of proxy and voting by correspondence can also be submitted electronically via Evaxion Biotech’s shareholder portal Evaxion Biotech A/S (computershare.dk).

Proxy votes must be submitted no later than Friday 25 April 2025 at 11:59 pm (CEST). Votes by correspondence must be submitted no later than Tuesday 29 April 2025 at 12:00 pm (CEST).

Please note that the company and the registrar are not responsible for any delay in submitting the material. This form must be received by Computershare A/S, Lottenborgvej 26D, DK-2800 Kgs. Lyngby, Denmark or email gf@computershare.dk no later than 25 April 2025 at 11.59 pm (CEST) for registration of attendance as well as proxy and no later than 29 April 2025 at 12:00 pm (CEST) for voting by correspondence.

The Annual General Meeting of Evaxion Biotech A/S will be held on 30 April 2025 at 2:00 pm (CEST) at Evaxion Biotech A/S, Dr. Neergaards Vej 5F, 2970 Hørsholm, Denmark

Nomination of proxy/voting by correspondence: If you are unable to attend, you may vote by correspondence or appoint a person as your proxy to represent you at the general meeting.

PLEASE TICK ONLY ONE BOX:

☐ I hereby give proxy to the chairman of the Board of Directors Evaxion Biotech A/S, or a substitute duly appointed by him, to vote on my/our behalf at the general meeting.

☐ I hereby give proxy to: ____________________________________________________________________________________________________________________________________________________________________________________

Name and address (please use capital letters)

to vote on my/our behalf at the general meeting.

☐ I also request an admission card to an advisor of the proxy holder:

Name and address (please use capital letters)

☐ Proxy instructions. In the table below, I have indicated how I wish to vote at the general meeting.

Please note that this proxy will only be used if a vote is requested by a third party.

☐ Voting by correspondence. In the table below, I have indicated how I wish to vote at the general meeting.

Please note that votes by correspondence cannot be withdrawn, and that they will also be used in case of proposed amendments to the items on the agenda.

Please indicate your instructions to your proxy by ticking the relevant boxes below. If your proxy is given to the Board of Directors, and if you do not tick any of the boxes, the Board of Directors will vote or abstain from voting at its discretion on the basis of your instrument of proxy.

If you do not indicate the type of proxy you wish to use, you will be considered to have given proxy instructions. Please note that this proxy will only be used if a vote is requested by a third party.

Please note that the company and the registrar are not responsible for any delay in submitting the material. This form must be received by Computershare A/S, Lottenborgvej 26D, DK-2800 Kgs. Lyngby, Denmark or email gf@computershare.dk no later than 25 April 2025 at 11.59 pm (CEST) for registration of attendance as well as proxy and no later than 29 April 2025 at 12:00 pm (CEST) for voting by correspondence.