COVAX19 is being developed by Australia-based Vaxine Pty Ltd. in collaboration with South Korea's Medytox.Current Status: COVAX19 is under a phase I trial in Australia.Mode of Action: The COVAX-19 vaccine comprises a recombinant spike protein antigen formulated with Vaxine’s proprietary Advax adjuvant. The vaccine elicits potent T cell and neutralizing antibody response against the target virus.Next Milestone:Early data from the phase I study is expected to be available by August 2020.Initiation of phase II/III trial is planned for the fourth quarter of this year.