Bavarian Nordic A/S - Rights Issue 2010 - English Prospectus

English prospectus. Not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Japan or the United States This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to buy the securities of Bavarian Nordic A/S (the ?Securities?) in Australia, Canada, Japan or the United States or in any other jurisdiction. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer of the Securities has not registered, and does not intend to register, any portion of the Offering in the United States or in any jurisdiction outside Denmark and the United Kingdom, and does not intend to conduct a public offering of the Securities in the United States or in any jurisdiction outside Denmark and the United Kingdom. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. [HUG#1371489] Bavarian Nordic - Rights Issue 2010 - English Prospectus: http://hugin.info/100065/R/1371489/335701.pdf