Summary: Pharmexa and VaxOnco of South Korea have entered into an agreement whereby VaxOnco will acquire all shares of Pharmexa-Epimmune (Pharmexa Inc.) and will thus assume all rights and responsibilities relating to the patent portfolio of Pharmexa-Epimmune. VaxOnco Inc, a Korean company specializing in peptide based vaccines, has acquired Pharmexa-Epimmune (Pharmexa Inc.) by the purchase of all outstanding shares from Pharmexa A/S for €440,000. VaxOnco will thus assume all rights and responsibilities relating to the Pharmexa-Epimmune patent portfolio. Dr. Achim Kaufhold, Pharmexa´s CEO, says “In line with our cost-cutting activities and our new strategic direction, Pharmexa A/S discontinued operations at our Pharmexa-Epimmune subsidiary in San Diego at the end of last year. The sale of Pharmexa-Epimmune to VaxOnco completes that process and will result in substantial savings to Pharmexa A/S in the future.” Hørsholm, April 24, 2009 Achim Kaufhold Chief Executive Officer Additional information: Claude Mikkelsen, Senior Vice President, Finance & Investor Relations, tel. +45 4516 2525 or +45 4060 2558 Achim Kaufhold, Chief Executive Officer, tel +45 4516 2525