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2014-05-15

Bavarian Nordic A/S: Bavarian Nordic to Present Data Combining its Cancer Immunotherapies with Immune Checkpoint Inhibitors at the 2014 ASCO Annual Meeting

KVISTGAARD, Denmark, May 15, 2014
- Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announced today two papers
featuring the combination of the Company's proprietary cancer immunotherapy
candidate MVA-BN®-HER-2 together with immune checkpoint inhibitors will be
presented as posters, including a highlight posters discussion session,
during the 2014 ASCO Annual Meeting in Chicago, IL from May 30 to June 3.

The two presentations highlight the potential for synergistic benefit in
anti-cancer efficacy and improved survival by combining Bavarian Nordic's
poxvirus-based active immunotherapy platform with immune checkpoint
inhibitors (iCPIs).

"The results will show what we and others have hypothesized, namely that the
development of robust anti-cancer immune responses is augmented and
accelerated when the foundational benefit from our active immunotherapy is
coupled with immune checkpoint inhibitors," said James B. Breitmeyer,
President of Bavarian Nordic's Cancer Immunotherapy Division. "By design, the
checkpoint inhibitors remove inhibitions from the immune system, but
sometimes an initial immune stimulation is still required. Our active
immunotherapy stimulates the immune system to target the cancer, and the
checkpoint inhibitors amplify that response. The data from the presented work
help to elucidate the survival effect seen in published human studies of
prostate cancer with our lead candidate, PROSTVAC, combined with ipilimumab,
which we hope to replicate in future combination clinical trials."

Abstract titles and summary:

"Anti-tumor efficacy of poxvirus-based active immunotherapy alone and in
combination with sub-therapeutic dosing with immune checkpoint inhibitors"
General Poster Session, Developmental Therapeutics: Immunotherapy, Sunday,
June 1, 2014 from 8:00 AM to 11:45 AM CDT. The abstract can be seen at the
ASCO Annual Meeting
website:http://abstracts.asco.org/144/AbstView_144_130074.html.

* Anti-tumor efficacy was significantly improved when Bavarian Nordic's
poxvirus-based active immunotherapy was combined with one or two immune
checkpoint inhibitors in both primary and metastatic preclinical tumor
models.
* Complete tumor regression resulted from combining MVA-BN-HER2 immunotherapy
with anti-PD-1 plus anti-LAG-3 antibodies.
* The doses of anti-PD-1 plus anti-LAG-3 could be reduced by 90% while
retaining anti-tumor efficacy if the iCPIs were given in combination with
MVA-BN-HER2 active immunotherapy.
* The authors conclude that combination therapy of reduced-dose iCPIs with
poxvirus-based active immunotherapy could potentially offer improved
clinical benefit, safety and tolerability over iCPI therapy alone.

"Magnitude and quality of tumor-infiltrating T cell response upon
poxvirus-based active immunotherapy alone and in combination with CTLA-4
immune checkpoint inhibition"
Poster Highlights Session, Developmental Therapeutics: Immunotherapy, Monday,
June 2, 2014 from 1:15 PM to 4:15 PM CDT. The abstract can be seen at the
ASCO Annual Meeting
website:http://abstracts.asco.org/144/AbstView_144_130077.html.

* Combining MVA-BN-HER2 immunotherapy with CTLA-4 blockade in preclinical
therapeutic tumor models demonstrated significantly improved efficacy for
median overall survival (p<0.001).
* MVA-BN-HER2 administration was accompanied by a 30 fold increase in tumor
infiltrating, antigen-specific CD8 T cells (CD8 TILs) compared to no
treatment, which was further augmented to 90-fold in combination with
anti-CTLA-4.
* The authors conclude that poxvirus-based immunotherapy induces a robust,
functional tumor-infiltrating T cell response that is augmented
significantly in combination with CTLA-4 immune checkpoint inhibition, and
that leads to improved survival in nonclinical models.

Bavarian Nordic will also be present at the conference with an exhibit, booth
#2004 where attendees can learn more about PROSTVAC and the PROSPECT clinical
trial - a global, randomized, double-blind, placebo-controlled Phase 3 study
of PROSTVAC in men with asymptomatic and minimally symptomatic metastatic,
castration-resistant prostate cancer.

Bavarian Nordic will also host a PROSTVAC update and investor and analyst
reception on Saturday, May 31, 2014 in Chicago, IL at 5 PM CDT. Confirmed
speakers and panelists include Philip Kantoff, M.D. (Dana-Farber Cancer
Institute), James L. Gulley, M.D., Ph.D. (NCI), Ravi A. Madan, M.D. (NCI),
Larry Fong, M.D. (UCSF), Winald Gerritsen, M.D., Ph.D. (Radboud University
Medical Centre Nijmegen) and James B. Breitmeyer, M.D., Ph.D. (Bavarian
Nordic). For registration and more information on this event,
visithttp://www.bavarian-nordic.com/asco2014.

Anders Hedegaard, President&CEO

Contact
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.

201410uk
http://hugin.info/100065/R/1785645/612391.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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