Bavarian Nordic Announces the Planned Departure of CFO, Ole Larsen
COPENHAGEN, Denmark, January 31, 2018 - Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) today announced that Ole Larsen, Executive Vice President and Chief Financial Officer will depart from the Company to pursue new opportunities. The planned transition will take place within 2018 once an appropriate candidate has been identified. Until such time, Mr. Larsen will continue in his current capacity. Mr. Larsen joined Bavarian Nordic in 2008.
"On behalf of the entire Company, I want to thank Ole for his significant contributions over the past 10 years. Ole has been instrumental in growing Bavarian Nordic into a well-diversified, fully integrated company, currently in one of its strongest financial positions in our history," said Paul Chaplin, President and Chief Executive Officer of Bavarian Nordic. "We thank him for his dedication and his willingness to work through a smooth transition to an appropriate replacement. We wish him all the very best in his future endeavors."
The Company is now initiating a search for the position of Chief Financial Officer.
About Bavarian Nordic
Bavarian Nordic is a fully integrated biotechnology company focused on the development of innovative and safe therapies against cancer and infectious diseases. Using our live virus vaccine platform technology, MVA-BN®, we have created a diverse portfolio of proprietary and partnered product candidates intended to improve the health and quality of life for children and adults. We supply our IMVAMUNE® non-replicating smallpox vaccine to the U.S. Strategic National Stockpile and other government stockpiles. The vaccine is approved in the European Union (under the trade name IMVANEX®) and in Canada. Registration studies are currently underway in the U.S. In addition to our long-standing collaboration with the U.S. government on the development of IMVAMUNE® and other medical countermeasures, our infectious disease pipeline comprises a proprietary RSV program as well as vaccine candidates for Ebola, HPV, HBV and HIV, which are developed through a strategic partnership with Janssen. Additionally, in collaboration with the National Cancer Institute, we have developed a portfolio of active cancer immunotherapies, designed to alter the disease course by eliciting a robust and broad anti-cancer immune response while maintaining a favorable risk-benefit profile. Through multiple industry collaborations, we seek to explore the potential synergies of combining our immunotherapies with other immune-modulating agents, e.g. checkpoint inhibitors. For more information visit www.bavarian-nordic.com or follow us on Twitter @bavariannordic.
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
Rolf Sass Sørensen
Vice President Investor Relations (EU)
Tel: +45 61 77 47 43
Vice President Investor Relations (US)
Tel: +1 978 341 5271
Company Announcement no. 02 / 2018