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Bavarian Nordic A/S

Bavarian Nordic Receives USD 25 Million Milestone Payment After Submission of Important IMVAMUNE Data to the U.S. Health Authorities

payment of USD 25 million as allowed under the RFP-3 contract to manufacture and deliver 20 million doses of the company's IMVAMUNE(R) smallpox vaccine.

This milestone payment was triggered by the recent submission of a clinical safety report from a large Phase II study with IMVAMUNE(R) in HIV infected subjects, which is part of the regulatory package that will be used to potentially support the use of IMVAMUNE(R) in a declared emergency. With this, Bavarian Nordic is an important step closer to fulfilling the conditions for initiating delivery of IMVAMUNE(R) in 2009.

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