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Bavarian Nordic Begins Delivery of IMVAMUNE® to the U.S. Strategic National Stockpile

Kvistgård, Denmark, May 17, 2010 - Bavarian Nordic A/S (OMX: BAVA) announced today that it has initiated delivery of its smallpox vaccine IMVAMUNE® to the U.S. Strategic National Stockpile. The delivery is part of Bavarian Nordic's contract with BARDA, to deliver 20 million doses of IMVAMUNE®.

The above does not impact the company's financial guidance for the year 2010.