Bavarian Nordic Announces Changes in Management

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| Source: Bavarian Nordic A/S
KVISTGAARD, Denmark, January 21, 2013 - Bavarian Nordic A/S (OMX: BAVA) today
announced that Reiner Laus, Executive Vice President and Division President
Cancer Vaccines will leave his position effective as of today.

Reiner Laus has headed Bavarian Nordic's California-based cancer vaccine
division, BN ImmunoTherapeutics since 2005, where it was founded to develop
active immunotherapies within the cancer field based on the company's MVA-BN®
technology. During his tenure, Dr. Laus has been instrumental in the development
of the company's clinical pipeline, including the preparations for the current
late-stage clinical development of PROSTVAC®. The company has initiated a search
for a replacement to fill his position which is expected to be concluded soon.


Asger Aamund
Chairman of the Board


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

About Bavarian Nordic
Bavarian Nordic is a vaccine-focused 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 targets cancer
and infectious diseases, and includes ten development programs. In oncology, the
company's lead program is PROSTVAC®, a therapeutic vaccine candidate for
advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 trial
and is being developed under a collaboration agreement with the National Cancer
Institute. In clinical Phase 1 and Phase 2 trials, PROSTVAC® has been tested in
nearly 600 patients. In infectious diseases, the company's lead program is
IMVAMUNE®, a non-replicating smallpox vaccine candidate that is being developed
and supplied for emergency use to the U.S. Strategic National Stockpile under a
contract with the U.S. Government. For more information, visit www.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.


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