Bavarian Nordic Announces Changes in Management

| 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

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-

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
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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.