Bavarian Nordic

Business and Financial Review • Jun 15, 2016

Bavarian Nordic Announces Expansion of IMVAMUNE Orders from Canadian Government

Bavarian Nordic Announces Expansion of IMVAMUNE Orders from Canadian Government

COPENHAGEN, Denmark, June 15, 2016 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announced today that the Public Health Agency of Canada (PHAC) has exercised an option for the supply of 171,000 doses of IMVAMUNE® smallpox vaccine to the national stockpile at a total value of USD 7.7 million. 

This option builds upon an initial order of 189,000 doses, comprising a total of 360,000 doses ordered by PHAC, to date. Deliveries from the initial order are taking place throughout 2016, and the new order will be delivered in 2017 and 2018. The Company also has an ongoing contract with the Canadian Department of National Defence (DND), under which additional options for IMVAMUNE remain exercisable. Approved in Canada in 2013, IMVAMUNE is a non-replicating smallpox vaccine, which is being stockpiled for use in both the general population as well as individuals who are contraindicated to traditional smallpox vaccines, such as HIV-infected and people suffering from skin disorders.

Paul Chaplin, President & Chief Executive Officer of Bavarian Nordic, said: "We are pleased to continue our collaboration with the Canadian government in their efforts to secure protection for its citizens. This collaboration dates back to 2008 when we started deliveries to the Canadian Department of National Defence, and was since broadened to include the Public Health Agency of Canada, who also recognized the need for establishing a smallpox vaccine stockpile for the general population. We look forward to continuing and expanding our partnership engagement on various bio preparedness matters, including smallpox."

The contents of this announcement do not affect the Company's expectations for the financial results for 2016.

**About IMVAMUNE Smallpox Vaccine

**IMVAMUNE is being developed as a smallpox vaccine for individuals for whom traditional replicating vaccines are contraindicated, such as people with atopic dermatitis (AD) and HIV. IMVAMUNE is the Company's most advanced commercial program. Studies comprising more than 7,600 subjects, including people diagnosed with AD or infected with HIV, demonstrate that IMVAMUNE has a favorable safety profile. In 2013, the vaccine was approved in Canada under the trade name IMVAMUNE and in the European Union under the trade name IMVANEX®.

**About Bavarian Nordic

**Bavarian Nordic is a fully integrated biotechnology company focused on the development, manufacturing and commercialization of cancer immunotherapies and vaccines for infectious diseases, based on the Company's live virus vaccine platform. Through long-standing collaborations, including a collaboration with the U.S. government, Bavarian Nordic has developed a portfolio of vaccines for infectious diseases, including the non-replicating smallpox vaccine, IMVAMUNE®, which is stockpiled for emergency use by the United States and other governments. The vaccine is approved in the European Union (under the trade name IMVANEX®) and in Canada. Bavarian Nordic and its partner Janssen are developing an Ebola vaccine regimen, which has been fast-tracked, with the backing of worldwide health authorities, and a vaccine for the prevention and treatment of HPV. Additionally, in collaboration with the National Cancer Institute, Bavarian Nordic has developed a portfolio of active cancer immunotherapies, including PROSTVAC®, which is currently in Phase 3 clinical development for the treatment of advanced prostate cancer. The company has partnered with Bristol-Myers Squibb for the potential commercialization of PROSTVAC. For more information visit www.bavarian-nordic.com or follow us on Twitter @bavariannordic.

**Forward-looking statements

**This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.

**Contacts

**Rolf Sass Sørensen

Vice President Investor Relations (EU)

Tel: +45 61 77 47 43

Seth Lewis

Vice President Investor Relations (US)

Tel: +1 978 341 5271 

Company Announcement no. 21 / 2016

HUG#2020917

Attachments:

• 2016-21-en

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