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Hitt og þetta 12. september 2006

Pharmexa adds two strong new members to board of directors

Summary: Karen Lykke Sørensen, General Manager for Sanofi-Aventis in Denmark and Ole Steen Andersen, Executive Vice President and CFO in Danfoss A/S, will - upon being elected at the next general assembly in Pharmexa - join Pharmexa's board of directors.

Jakob Schmidt, CEO in Pharmexa says: "Karen Lykke Sørensen and Ole Steen Andersen complements our already strong board at the commercial level. Karen will in particular strengthen our board with her undeniable competences within international management, sales and marketing. Pharmexa will in the coming years increase its market focus and here Karen has a lot to offer. Ole's very strong industrial background with a focus on general management, financial management and business development represents exactly the approaches we will need when we take the next steps in the development of Pharmexa."

Karen Lykke Sørensen and Ole Steen Andersen will join Pharmexa's board of directors assuming they are elected at the next general assembly in the company.

Karen Lykke Sørensen Karen Lykke Sørensen has more than 12 years experience in the pharma- and biotech industry in France, Scandinavia and Denmark. She has been General Manager for Sanofi-Aventis' Danish subsidiary since the beginning of 2006. From 2001 to 2006 Karen Lykke Sørensen was Vice President, Global Cardiovascular Business Unit, the largest business unit in Sanofi-Aventis, the world's third largest pharmaceutical company. Among other things, she was responsible for increasing the sales of the blockbuster drug Plavix® from 1 billion Euros to 6 billion Euros over a five year period. Before Sanofi-Aventis, Karen Lykke Sørensen was Managing Director, Nordic Countries, in Biogen, one of the world's largest biotech companies. In this job she was responsible for starting up and managing Biogen's Nordic subsidiaries in Sweden, Norway, Finland and Denmark. Before that, she held senior positions in DAKO and Novo Nordisk. Karen Lykke Sørensen holds a degree in Engineering and an MBA from INSEAD.

Karen Lykke Sørensen says: "Pharmexa is an ambitious company and I look forward to contributing where I can."

Ole Steen Andersen Ole Steen Andersen has been Executive Vice President since 1994 and Chief Financial Officer since 2000 in Danfoss A/S. In May 2006 he announced his plans to retire in connection with the annual general assembly in Danfoss in 2007. Ole Steen Andersen is known as one of Denmark's most respected and experienced industrial leaders. Before Danfoss, from 1986 to 1993, Ole Steen Andersen was President in NKT Holding A/S, where he also, from 1979 to 1986, held a number of senior positions. Ole Steen Andersen is a member of the board of representatives for the Confederation of Danish Industries, a member of the board of representatives for the Confederation of Danish Employers as well as a member of the board of representatives for the Confederation of Danish Employers outside Copenhagen. He is chairman of the board of directors in COWI A/S and vice chairman in Auriga Industries A/S. He is a member of the board of directors in DT Holding 1 (Danske Trælast) and sits on the boards of a number of companies in the Danfoss group. Ole Steen Andersen holds a master degree in Engineering and a graduate diploma in business administration and has studied at Sloan School of Management, MIT.

Ole Steen Andersen says: "Pharmexa is an exciting company, with a big project ahead of it, which I will be delighted to contribute to."

Hørsholm, September 12, 2006

Jakob Schmidt Chief Executive Officer

Additional information: Jakob Schmidt, Chief Executive Officer, telephone +45 4516 2525 Claude Mikkelsen, Head of Investor Relations, telephone +45 2516 2525 or +45 4060 2558

Note to editors: Pharmexa A/S is a leading company in the field of active immunotherapy and vaccines for the treatment of cancer, serious chronic and infectious diseases. Pharmexa's proprietary technology platforms are broadly applicable, allowing the company to address critical targets in cancer, rheumatoid arthritis, bone degeneration and Alzheimer's disease, as well as serious infectious diseases such as HIV, influenza, hepatitis and malaria. Its leading programs are GV1001, a peptide vaccine that has entered phase III trials in pancreatic cancer and is expected to enter a phase II trial in liver cancer soon, as well as a number of HIV and hepatitis vaccines in phase I/II. Collaborative agreements include H. Lundbeck, Innogenetics, IDM Pharma and Bavarian Nordic. With operations in Denmark, Norway and USA, Pharmexa employs approximately 100 people and is listed on the Copenhagen Stock Exchange under the trading symbol PHARMX.

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