Pharmexa and Bavarian Nordic initiates new NIH funded Phase I trial of two HIV vaccines EP1233 and MVA-BN Polytope in combination

Summary: Pharmexa-Epimmune, a wholly-owned US subsidiary of Pharmexa A/S, and
Bavarian Nordic today announced the initiation of a Phase I trial testing of
the two HIV vaccines EP1233 and MVA-BN Polytope in combination. 

Pharmexa-Epimmune and Bavarian Nordic today announced the initiation of a Phase
I trial testing two HIV vaccines EP1233 and MVA-BN Polytope in combination. The
clinical trial will be conducted by the HIV Vaccine Trials Network (HVTN) which
is supported through a cooperative agreement with the National Institute of
Allergy and Infectious Diseases (NIAID), part of the National Institutes of
Health (NIH). The HVTN will enrol up to 108 uninfected volunteers in the US.
Interim results are expected by the end of 2007. 

Marc Hertz, CEO of Pharmexa-Epimmune said: "This is an important milestone for
Pharmexa as we continue our efforts to develop HIV vaccines in collaboration
with the NIH. We are still searching for the best method to deliver epitopes in
the HIV setting and this approach, DNA prime: MVA boost, is one of the most
promising approaches in this field.” 

The study vaccines were developed by a Pharmexa-led consortium through a
contract with NIAID, which to date has provided more than USD 10.0 million to
develop a broad HIV vaccine for worldwide use with a population coverage across
all ethnic and racial populations. 

Pharmexa and Bavarian Nordic share the marketing rights for both vaccines. 


Hørsholm, April 30, 2007


Jakob Schmidt
Chief Executive Officer


Additional information: Jakob Schmidt, Chief Executive Officer, telephone +45
4516 2525 
Claude Mikkelsen, Head of Investor Relations, telephone +45 4516 2525 or +45
4060 2558 


 
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, 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 that has entered phase III trials in pancreatic cancer and
phase II trials in liver cancer, and HIV and hepatitis vaccines in phase I/II.
Collaborative agreements include H. Lundbeck, Innogenetics, IDM Pharma,
ImmunoVaccine Technologies and Bavarian Nordic. With operations in Denmark,
Norway and USA, Pharmexa employs approximately 105 people and is listed on the
Copenhagen Stock Exchange under the trading symbol PHARMX. 

Bavarian Nordic (CSE: BAVA) is a leading international biopharmaceutical
company developing and producing innovative vaccines to prevent and treat
infectious diseases and cancer. With operations in Denmark, Germany, the USA,
and Singapore, Bavarian Nordic employs over 200 people. Bavarian Nordic's
patented technology, MVA-BN®, is as been demonstrated in clinical studies, one
of the world's safest, multivalent vaccine vectors for the development of
vaccines against various infectious diseases such as smallpox, HIV/AIDS, as
well as against breast and prostate cancer. Several MVA-BN®-based HIV and
smallpox vaccines are in clinical Phase I and Phase II trials. Bavarian Nordic
has ongoing development contracts with the US government to develop IMVAMUNE®
as a safe third generation smallpox vaccine. Bavarian Nordic has supplied
several other governments with smallpox vaccines. Bavarian Nordic's partners
include Pharmexa, Impfstoffwerk Dessau-Tornau (IDT) and Vaccine Solutions in
Australia. For more information please visit www.bavarian-nordic.com 

This study, known as HVTN 067, will be conducted at sites in Nashville,
Rochester and San Francisco. The HVTN, which is funded and supported through a
cooperative agreement with the National Institute of Allergy and Infectious
Disease (NIAID), part of the United States National Institutes of Health (NIH),
is an international collaboration of scientists and institutions whose goal is
to accelerate the search for an HIV vaccine by sharing trial results and
facilitating parallel, concurrent testing. The network comprises more than 24
research institutions worldwide, coordinated from its headquarters at the Fred
Hutchinson Cancer Research Center in Seattle, and conducts research in 26
cities in the United States, Caribbean, South America, Africa and Asia. The
HVTN is a unique hybrid that combines the depth and diversity of the academic
community and the flexibility of a commercial drug company. Working with
industry and government, the HVTN seeks to expedite and coordinate the trial
process, advancing vaccine candidates and building a body of knowledge around
HIV vaccine trials. For more information, please visit www.hvtn.org or contact
Sarah Alexander (salex@hvtn.org; +1.206.667.5296).