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Bavarian Nordic Update - 2007 Annual Results, IMVAMUNE(R) Delivery Contract, Strategy Process
Date:4/2/2008

l partner on clinical development and funding are pending.

The program for measles and RSV will be tested up to and through clinical Phase I, where it is expected that proof of concept will be obtained.

As for HIV multiantigen, Phase I/II clinical studies will be completed, and partnering negotiations will be initiated as and when the project progresses.

Building market demand for IMVAMUNE(R)

As part of the process of taking the Bavarian Nordic organization to new and professional levels, a new commercial organization was established in 2007 in order to strengthen the Company's commercial activities and build market demand for IMVAMUNE(R) and future vaccines, including HIV and cancer vaccines.

Changes in management

During the past year the Executive Management of Bavarian Nordic has been strengthened with new CEO and an Executive Vice President Commercial Affairs. To implement the new strategic initiatives, the Executive Management will be further strengthened with two new people and the appointment of a new member.

Rene Djurup, Executive Vice President Technical Operations, has decided to resign from his position as of 31 May 2008 in order to dedicate himself to private business activities. The build-up of the Company's production facility - the world's first MVA production plant, was a fantastic achievement headed by Rene, and the Company wishes to thank him for his great effort and contribution to the industrial development of Bavarian Nordic.

Anders Gram (48) has been appointed as new Executive Vice President Technical Operations. Anders holds an M.Sc. degree in chemical engineering and a Ph.D. in industrial biochemistry. He currently holds the position as Managing Director and Vice President, Biopharma Operations in Novozymes. Previously he worked in various management positions within product supply in the enzyme business area at Novo Nordisk. He will take up position on 1 June 2008 at the latest.


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SOURCE Bavarian Nordic A/S
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