Summary: Pharmexa today presented preclinical data from its RANKL AutoVac™ program against bone related disorders at the ASBMR conference The ASBMR (American Society for Bone and Mineral Research) conference “Targeting Bone Remodeling for the Treatment of Osteoporosis” is held December 6-7 in Washington DC. The RANKL protein regulates osteoclast activity and bone resorption. Neutralizing RANKL is effective at reducing bone destruction in models of osteoporosis, rheumatoid arthritis and bone metastasis. Pharmexa is developing a RANKL vaccine that bypasses immunological tolerance and induces antibodies that effectively neutralize human RANKL. This is achieved using the AutoVac™ technology where the proprietary T-helper epitope PADRE® is inserted into a recombinant RANKL protein which is then used for immunization. At the ASBMR conference Pharmexa presented preclinical data which show that: 1) Pharmexa's PADRE®-RANKL AutoVac™ vaccine has a biological activity that is about 30 times lower than native RANKL, which addresses theoretical safety concerns associated to the RANKL molecule itself while maintaining appropriate immunogenicity. 2) The PADRE®-RANKL AutoVac™ vaccine induces a dose-dependent antibody response in rodents, with high antibody titres after four immunizations, as shown in the figure below: 3) The PADRE®-RANKL AutoVac™ induces neutralizing antibodies which inhibit the RANKL-induced osteoclastogenesis in vitro, as shown in the figure below: 4) The PADRE®-RANKL AutoVac™ vaccine generates an antibody response that declined upon discontinuation of vaccination, but the antibody response could be re-stimulated by a single vaccine boost, indicating induction of immunological memory. Dr. Achim Kaufhold, Executive Vice President, CMO and CSO summarizes: “The results demonstrate that Pharmexa's proprietary vaccine candidate induced high anti-RANKL antibody titres and that these antibodies decline over time, which is a desirable feature of a vaccine for human use. The antibodies induced neutralize native human RANKL in vitro. The results obtained in several rodent animal models pave the way for further development of this novel immunotherapeutic approach”. Hørsholm, December 6, 2007 Jakob Schmidt Chief Executive Officer Additional information: Jakob Schmidt, Chief Executive Officer, telephone +45 4516 2525 Claude Mikkelsen, Vice President, Corporate Affairs and Communication, 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 and chronic diseases, 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 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.