Kvistgård, Denmark, January 26, 2010 - Bavarian Nordic A/S (OMX: BAVA) announced
today that a PROSTVAC(TM) paper has been published in the peer-reviewed Journal
of Clinical Oncology (JCO), the official journal of ASCO (American Society of
Clinical Oncology).

As announced in the prospectus dated 8 January 2010 regarding the ongoing rights
issue, Bavarian Nordic submitted its article to the journal in 2009 with the
expected publication in the first half of 2010.

The paper titled: "Overall Survival Analysis of a Phase II Randomized Controlled
Trial of a Poxviral-Based PSA-Targeted Immunotherapy in Metastatic
Castration-Resistant Prostate Cancer" has been published ahead of print on JCO's

The paper is based on the previously reported Phase II study, showing a
significant longer median survival (8.5 months) in men with advanced prostate

Anders Hedegaard, President & CEO of Bavarian Nordic said: "We are delighted
that our PROSTVAC(TM) data has been accepted for publication in Journal of
Clinical Oncology, one of the most prominent peer-reviewed oncology journals.
This is indeed a major recognition of the scientific potential of the vaccine
and highly supports the further development and our ongoing preparations for the
Phase III trials with PROSTVAC(TM)."

Anders Hedegaard, President & CEO. Phone +45 23 20 30 64

PROSTVAC(TM) is a therapeutic vaccine moving into late stage clinical
development that has the potential to extend the lives of people with advanced
prostate cancer. Administered subcutaneously, it induces a specific, targeted
immune response that attacks prostate cancer cells. Conventional chemotherapy
currently used to treat prostate cancer has limited survival rates and is often
associated with numerous side effects. In contrast, PROSTVAC(TM) has the
potential to extend survival with improved quality of life. PROSTVAC(TM) is
being developed in collaboration with the National Cancer Institute under a
Cooperative Research and Development Agreement with Bavarian Nordic's U.S.-based
subsidiary, BN ImmunoTherapeutics.

In clinical trials to date PROSTVAC(TM) and related PSA containing poxviral
vaccines have been investigated and optimised in more than 500 patients for 10

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Australia, Canada, Japan or the United States
This announcement does not constitute or form part of an offer to sell or the
solicitation of an offer to buy the securities of Bavarian Nordic A/S (the
"Securities") in Australia, Canada, Japan or the United States or in any other
jurisdiction. The Securities may not be offered or sold in the United States
absent registration or an exemption from registration under the U.S. Securities
Act of 1933, as amended. The issuer of the Securities has not registered, and
does not intend to register, any portion of the Offering in the United States or
in any jurisdiction outside Denmark and the United Kingdom, and does not intend
to conduct a public offering of the Securities in the United States or in any
jurisdiction outside Denmark and the United Kingdom. Copies of this announcement
are not being made and may not be distributed or sent into Australia, Canada,
Japan or the United States.

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.

About Bavarian Nordic
Bavarian Nordic A/S is a leading industrial biotechnology company developing and
producing novel vaccines for the treatment and prevention of life-threatening
diseases with a large unmet medical need. The company's pipeline is focused in
the three areas; biodefence, cancer and infectious diseases, and includes seven
development programmes. Two programmes are under preparation for Phase III:
IMVAMUNE®, a third-generation smallpox vaccine is being developed under a
contract with the US government, and PROSTVAC(TM), a therapeutic vaccine for
advanced prostate cancer is being developed under a collaboration agreement with
the National Cancer Institute.

Bavarian Nordic is listed on NASDAQ OMX Copenhagen under the symbol BAVA.

For more information please visit www.bavarian-nordic.com