Bavarian Nordic to Supply Smallpox Vaccines to Three European Countries

COPENHAGEN, Denmark, January 5, 2021 – Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announced today that the Company has entered into contracts with three European governments for the supply of IMVANEX^® smallpox vaccine.

The combined value of the contracts is EUR 11 million that will be revenue recognized during first half of 2021, where deliveries are expected to occur.

IMVANEX, the only EU-approved non-replicating smallpox vaccine, is manufactured at Bavarian Nordic’s Denmark-based commercial-scale facility, which has been producing the bulk smallpox vaccine for more than a decade. While the final drug product manufacturing has taken place with a contract manufacturer, Bavarian Nordic will soon commission its own fill and finish facility as part of the Company’s expansion of the facility to become a center of excellence for live viral vaccine manufacturing. The construction of the fill and finish facility has been completed in less than two years, and pending final validation and qualification, the facility will assume commercial manufacturing in 2021 with liquid-frozen JYNNEOS^® (U.S. trade name for the smallpox vaccine) as the first product on the line. The facility also houses lyophilization capabilities, and a freeze-dried version of the smallpox vaccine is currently in the final stages of development, anticipated ready for manufacturing in 2022.

Additionally, construction work is currently ongoing for expansion of the facility to allow for simultaneous bulk manufacturing of multiple products. This investment will enable Bavarian Nordic to transfer the manufacturing of the two vaccines, Rabipur^®/RabAvert^® and Encepur^® according to the planned schedule after having acquired the vaccines from GSK in 2019.

Paul Chaplin, President and CEO of Bavarian Nordic said. “We are pleased to expand our sales of smallpox vaccines to other countries. In times of a pandemic, the global and national priorities and efforts are clearly directed towards fighting COVID-19, however, the fundamental work to strengthen the biological preparedness remains, and these new contracts are result of our long-term commitment and work with governments to reinforce their preparedness.”

About Bavarian Nordic
Bavarian Nordic is a fully integrated vaccines company focused on the development, manufacture and commercialization of life-saving vaccines. We are a global leader in smallpox vaccines and have been a long-term supplier to the U.S. of a non-replicating smallpox vaccine, which has been approved by the FDA under the trade name JYNNEOS^®, also for the protection against monkeypox. The vaccine is approved as a smallpox vaccine in Europe under the trade name IMVANEX^® and in Canada under the trade name IMVAMUNE^®. Our commercial product portfolio furthermore contains the market-leading vaccine Rabipur^®/RabAvert^® against rabies and Encepur^® against tick-borne encephalitis. Using our live virus vaccine platform technology, MVA-BN^®, we have created a diverse portfolio of proprietary and partnered product candidates designed to save and improve lives by unlocking the power of the immune system, including an Ebola vaccine, MVABEA^®, which is licensed to Janssen. For more information visit www.bavarian-nordic.com.

Contacts
Europe: Rolf Sass Sørensen, Vice President Investor Relations, Tel: +45 61 77 47 43
US: Graham Morrell, Paddock Circle Advisors, graham@paddockcircle.com, Tel: +1 781 686 9600

Press Release

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• 2021-01-05-en