Mymetics Corporation Announces Initiation of Research Coverage by Khandaker Partners

NYON, Switzerland, Dec. 10, 2008 (GLOBE NEWSWIRE) -- Mymetics Corporation
(OTCBB:MYMX) announced today that Khandaker Partners has initiated coverage
(www.mymetics.com) with an intermediate term price range of $1.20 for its
common stock. Mymetics is a Swiss biotech company with a mucosal AIDS vaccine
candidate entering Human Clinical Phase I trials and a long term Malaria
vaccine in Phase II Human Clinical trials. 

The Research Report states, "The outlook for the company is positive as the HIV
and malaria vaccine markets are largely unexplored. The company is developing
vaccines using a novel technology, and is, therefore, likely to capture a
significant market share." 

Khandaker has valued the company using a conservative set of DCF parameters
including a risk-free rate of 3.18%, risk premium of 8.84%, and beta of 0.62 to
calculate the company's cost of capital. Khandaker further assumed an
additional risk premium of 2.00% to account for the opportunity risks faced by
the company. Included in the valuation is the market potential for a HIV
vaccine based on the growing HIV population across the globe and the estimated
market potential of their malaria vaccine based on the current incidence data
of malaria. 

About Mymetics Corporation

Mymetics' corporate objective is to develop vaccines and therapies to prevent
and treat the effects of certain retroviruses and other infectious diseases,
including HIV/AIDS and Malaria. In Q4 2008 Mymetics will commence Phase 1b
Human Clinical trials of their HIV/AIDS preventative vaccine candidate which
showed extremely promising results (see Press Release September 16, 2008) as
well as continuing Mymetics' long term Malaria vaccine in Phase II Human
Clinical trials. Additional applications of Mymetics' research include
potential treatments and/or vaccines for human oncoviral leukemias, multiple
sclerosis, and organ transplantation. Long range growth plans key to Mymetics'
development include acquisitions of prophylactic or therapeutic vaccines
against breast cancer, candidiasis, RSV, malaria and hepatitis. 

The Mymetics Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5478 

CONTACT:  Mymetics, Inc. 
          Anthony Jessop, Senior Vice President
          1 303 800 6606
          ajessop@mymetics.com