Annual General Meeting in Pharmexa A/S

The Annual General Meeting at Pharmexa A/S Was Held on Thursday, April 27, 2006

HORSHOLM, DENMARK


HORSHOLM, Denmark, April 27, 2006 (PRIMEZONE) -- The General Meeting approved the report of the Board of Directors and the Financial Statements.

The Board of Directors' motion that the loss for the year of KDKK 118,067 is offset against the share premium was approved.

The Board of Directors' proposal in relation to the Board of Directors' authorisation for the period ending December 31, 2007 to increase the share capital by one or more issues with a nominal value of up to DKK 412,707,600 was approved.

The Board of Directors were authorised to issue warrants in accordance with the submitted proposal.

The proposed amendments to Articles 4.1, 4.6, and 4.7 in the Articles of Association were approved.

Michel L. Pettigrew was elected to the Board of Directors and Karl Olof Borg, Joergen Buus Lassen, Alf A. Lindberg and Arne Gillin were re-elected to the Board of Directors.

The company has decided to have one accountant and Ernst & Young, Statsautoriseret Revisionsaktieselskab was re-elected.

Hoersholm, April 27, 2006

Jakob Schmidt Chief Executive Officer

Note to editors: Pharmexa A/S is a leading company in the field of active immunotherapy and vaccines for the treatment of cancer, serious chronic and infectious diseases. Pharmexa's proprietary technology platforms are broadly applicable, allowing the company to address critical targets in cancer, rheumatoid arthritis, bone degeneration and Alzheimer's disease, as well as serious infectious diseases such as HIV, influenza, hepatitis and malaria. Its leading programs are GV1001, a peptide vaccine about to enter phase III trials in pancreatic cancer, HER-2 AutoVac(TM) Protein, a recombinant protein vaccine in phase II against breast cancer, and HIV and hepatitis vaccines in phase I/II. Collaborative agreements include Schering-Plough, H. Lundbeck, Innogenetics and Bavarian Nordic. With operations in Denmark, Norway and USA, Pharmexa employs approximately 100 people and is listed on the Copenhagen Stock Exchange under the trading symbol PHARMX.



        

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