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2014-05-28

Bavarian Nordic A/S: Bavarian Nordic Announces Appointment of Paul Chaplin, Ph.D. as President & CEO

KVISTGAARD, Denmark, May 28, 2014
- Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announced today that Paul
Chaplin, Ph.D. has been appointed new President and CEO of the Company. He
replaces Anders Hedegaard who has served in this position since 2007. Mr.
Hedegaard leaves the Company to join GN ReSound A/S as CEO.

Prior to joining Bavarian Nordic in 1999, Dr. Chaplin worked in vaccine
research with the Institute for Animal Health in UK and CSIRO, the
Cooperative Research Centre for Vaccine Technology in Australia. In 2000, he
was appointed head of research and in 2004 he was appointed Executive Vice
President. Amongst others things, he has led the development program for the
IMVAMUNE® smallpox vaccine as well as been responsible for the successful
collaboration on this and other vaccines with the U.S. Government throughout
the years. Since 2010 he has held the position as Division President,
Infectious Diseases. Under his leadership, Bavarian Nordic received its first
product approval in 2013.

Dr. Chaplin holds a Ph.D. in Immunology from Bristol University. He is a
British national, born in 1967.

Gerard van Odijk, chairman of the board of Bavarian Nordic said: "Paul Chaplin
is the ideal person to lead our company at this time. As a member of our
executive management team for over a decade, Paul has demonstrated excellent
results and leadership at Bavarian Nordic. From his work in early research
and development, to building our large-scale manufacturing infrastructure,
managing government contracts and optimizing operations in our infectious
disease division, and turning it into a profitable business, we welcome the
opportunity to have Paul as our CEO. On behalf of the board, I would also
like to express our sincere appreciation to Anders Hedegaard for his
leadership throughout the last seven years. Anders has succeeded in
transitioning Bavarian Nordic from a research focused biotech to an
integrated biopharmaceutical company with a solid focus on organizational
development and optimization. This has created a strong commercial and
scientific foundation for further growth. We would like to thank Anders for
his significant contribution to the Company's development and we wish him all
the best in his new CEO position in one of the leading life science companies
in Denmark."

Paul Chaplin, President and CEO of Bavarian Nordic said: "I am very excited
about my new role and the opportunity to lead Bavarian Nordic further on the
growth track of commercial and clinical success that we have seen to date. We
have developed into a fully-fledged, integrated business, ready to maximize
the potential of new vaccines and cancer immunotherapies in the pipeline,
which hold great promise."
As part of the management changes, Executive Vice President and CFO Ole Larsen
will become registered manager with the Danish Business Authority.

Paul Chaplin will assume the position as President and CEO with immediate
effect. He will be assisted by Anders Hedegaard over the next few weeks to
ensure a smooth transition.

Gerard van Odijk, Chairman of the board

Contacts
Rolf Sass Sørensen, Vice President Investor Relations (EU). Phone +45 61 77 47
43
Seth Lewis, Vice President Investor Relations (US). Phone + 1 978-298-5654

About Bavarian Nordic
Bavarian Nordic is an international biotechnology company developing and
manufacturing novel cancer immunotherapies and vaccines for infectious
diseases. Lead product candidates are PROSTVAC®, an immunotherapy product
candidate for advanced prostate cancer that is the subject of an ongoing
pivotal Phase 3 clinical trial, and IMVAMUNE®, a non-replicating smallpox
vaccine candidate in Phase 3 development, which is being developed and
supplied for emergency use to the U.S. Strategic National Stockpile under a
contract with the U.S. Government. The vaccine is approved in Canada under
the trade name IMVAMUNE and in the European Union under the trade name
IMVANEX®. Bavarian Nordic's shares are listed on NASDAQ OMX Copenhagen under
the symbol BAVA (Reuters: BAVA.CO, Bloomberg: BAVA.DC). The company has a
sponsored Level 1 ADR program listed in the US (OTC) under the symbol BVNRY.
For more information, visitwww.bavarian-nordic.com.

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.

201413uk
http://hugin.info/100065/R/1789138/614939.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bavarian Nordic A/S via Globenewswire

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