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Pharmexa today increases its share capital in connection with employees’ exercise of warrants


WEBWIRE

June 7, 2006

Pharmexa announced today that it is increasing its share capital by 89,400 shares at a subscription price of DKK 19 per share of a nominal value of DKK 10 each as a consequence of the exercise of employee warrants awarded in 2004. The warrant program consist of 99,800 shares of which 89,400 has been exercised and the outstanding shares of the total warrant program are after this forfeited. The new shares subscribed under the warrant program are issued without pre-emption rights for the existing shareholders of the company or others and the subscription price is DKK 19 per share of a nominal value of DKK 10 each. The new shares carry the right to dividend as of the date of subscription and will be listed on the Copenhagen Stock Exchange after registration with the Danish Commerce and Companies Agency. Following the capital increase, Pharmexa A/S’ share capital will amount to a nominal value of DKK 376,892,400.

Summary: Pharmexa announced today that it is increasing its share capital by 89,400 shares at a subscription price of DKK 19 per share of a nominal value of DKK 10 as a consequence of the exercise of employee warrants awarded in 2004.
Hørsholm, June 7, 2006

Jakob Schmidt
Chief Executive Officer

Additional information: Jakob Schmidt, Chief Executive Officer, telephone +45 4516 2525

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, HER-2 AutoVac Protein, a recombinant protein vaccine in phase II against breast cancer, and 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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