Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such

Pursuant to Section § 28a of the Danish Act on Securities Trading, Bavarian Nordic A/S shall make public transactions of shares and related securities of Bavarian Nordic A/S by persons holding managerial responsibilities and/or persons/companies closely associated with such.

Name	Claus Bræstrup
Reason for transaction	Member of the Board of Bavarian Nordic
Issuer	Bavarian Nordic A/S
ID code/ISIN	DK0015998017
Description	Shares
Transaction	Purchase
Trading date	27 March 2009
Market	NASDAQ OMX Copenhagen
Number	1,500
Market value (DKK)	159,210.00

Asger Aamund

Chairman

Contact

Anders Hedegaard, President & CEO. Phone +45 23 20 30 64

Attachments:

07-09_uk

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