Bavarian Nordic announced today that Chief Financial Officer, Hans Christian Teisen has chosen to seek new challenges outside Bavarian Nordic A/S. He will resign from his position at the end of February 2008 at the latest to join LifeCycle Pharma A/S as Senior Vice President and CFO as from 1 March 2008. The company has initiated a recruitment process for hiring a new CFO. Since 2004 Hans Christian Teisen has contributed significantly to the development of Bavarian Nordic and the commercialisation of IMVAMUNE® in particular. He has furthermore played an important part in the development of Bavarian Nordic's financial functions. Asger Aamund Chairman Contacts: Anders Hedegaard, President & CEO Telephone: +45 33 26 83 83 Media: United States of America Elizabeth Dempsey Becker, Bavarian Nordic Inc. Telephone: +1 202 536-1576