Bavarian Nordic

Regulatory Filings • Jun 15, 2011

Bavarian Nordic Has Signed Contract with Denmark and another European NATO Country for the Delivery of IMVAMUNE® Smallpox Vaccine

Bavarian Nordic Has Signed Contract with Denmark and another European NATO Country for the Delivery of IMVAMUNE® Smallpox Vaccine

Kvistgård, Denmark, June 15, 2011 - Bavarian Nordic A/S (NASDAQ OMX: BAVA) today announced that it has signed a contract with the Danish Defence for the delivery of the company's third generation smallpox vaccine, IMVAMUNE®. Furthermore, Bavarian Nordic has signed a contract with another European NATO country for the delivery of IMVAMUNE®.

The vaccines will be delivered in 2011. The size and value of the contracts are undisclosed.

Like the U.S. government, which has so far ordered 20 million doses of the vaccine, IMVAMUNE® will form part of these countries' bio-preparedness in the event of a smallpox outbreak due to e.g. an act of terrorism. Although IMVAMUNE® is an unlicensed vaccine, it has been made available for government purchase. Data from more than 10 years of research indicate that IMVAMUNE® has a favorable safety profile and is well tolerated, including in people who are not recommended to receive the traditional smallpox vaccines, such as people with weakened immune systems (e.g. people infected with HIV) or diagnosed with atopic dermatitis (skin allergies).

The contracts do not affect the company's expectations for the 2011 full year results.

Anders Hedegaard, President & CEO comments: "Although these are smaller orders, we believe they can be the launch pad for a long-term cooperation on building up a modern bio-preparedness in these countries. Just like the U.S., Canada and the other countries which have purchased our vaccine, these countries now recognize the excellent features of IMVAMUNE®, which not only appears to be safer, but studies have also shown it has faster onset of protection than the old vaccines. We are continuously working to position IMVAMUNE® towards governments and national defences in other countries that have shown their interest in the vaccine."

Asger Aamund

Chairman of the Board

Contact

Anders Hedegaard, President & CEO. Phone +45 23 20 30 64

About Bavarian Nordic

Bavarian Nordic is a vaccine-focused biotechnology company developing and producing novel vaccines for the treatment and prevention of life-threatening diseases with a large unmet medical need. The company's clinical pipeline targets cancer and infectious diseases, and includes seven development programmes. Two programmes are under preparation for Phase III: PROSTVAC®, a therapeutic vaccine for advanced prostate cancer is being developed under a collaboration agreement with the National Cancer Institute, and IMVAMUNE®, a third-generation smallpox vaccine is being developed under a contract with the US government.

Bavarian Nordic is listed on NASDAQ OMX Copenhagen under the symbol BAVA.

For more information please visit www.bavarian-nordic.com

PROSTVAC® is a registered trademark in the U.S.

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. 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.

HUG#1523472

Attachments:

• 201125uk

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