SCHEDULE 13G/A

EVAXION BIOTECH A/S

American Depositary Shares, each representing fifty Ordinary Shares, DKK 0.25 nominal value per share · CUSIP: 29970R204

Event date: 2025-01-31

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• Merck & Co., Inc.

  Shares: 63,004,142.00 · Class: 19.96%

• Merck Sharp & Dohme LLC

  Shares: 63,004,142.00 · Class: 19.96%

• Merck Global Health Innovation Fund, LLC

  Shares: 63,004,142.00 · Class: 19.96%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.