Oslo, Norway, March 19, 2024 - Nykode Therapeutics ASA (OSE: NYKD), a
clinical-stage biopharmaceutical company dedicated to the discovery and
development of novel immunotherapies, today announced key updates of the inverse
vaccine platform with the potential to treat autoimmune diseases at the 7th
Antigen-Specific Immune Tolerance Drug Development Summit in Boston.

Nykode employs it unique technology platform to pioneer the field of inverse
vaccines, with the potential to develop high-precision treatments for autoimmune
diseases. At the conference, Nykode demonstrated for the first time a
significant effect in a therapeutic setting in a preclinical model for Multiple
Sclerosis (MS) with its inverse vaccine platform. The data also illustrate the
strong contribution of the specific targeting unit and confirm that the disease
protection is antigen-specific, underscoring the potential of Nykode's
technology in the field of autoimmune diseases.

"Demonstrating effect in a therapeutic setting has been the next important step
for Nykode. In addition to stopping the disease development, the data show that
the disease protection is antigen-specific. This supports our technology's
potential to offer future treatments that precisely target specific autoimmune
disorders without negatively affecting a fully functional immune system, a
common side effect associated with today's available treatments. These results
provide additional motivation for us to pursue a completely new approach to
treating autoimmune diseases, which affect around every tenth person globally,"
said Agnete Fredriksen, Chief Business Officer and Co-founder of Nykode.

During its Capital Markets Day in New York in September last year, Nykode
announced that its inverse vaccine platform had prevented serious disease in
models of MS and type 1 diabetes in mice, showcasing the technology's broad
disease-modifying potential in an antigen-specific manner. Notably, the efficacy
was enhanced with the integration of Nykode's 4th Module technology, emphasizing
its role in modulating the immune response to amplify therapeutic effects.

In addition to an oral presentation, Nykode presented a poster at the Summit to
elaborate on these findings. Further details are available on the Nykode website
at
https://nykode.com/research-and-development/scientific-papers-and-presentations/
.


About Nykode Therapeutics
Nykode Therapeutics is a clinical-stage biopharmaceutical company dedicated to
the discovery and development of novel immunotherapies with a focus on the
treatment of cancer and autoimmune diseases. Nykode's modular vaccine technology
specifically targets antigens to antigen presenting cells (APC), employed with
their cancer vaccines to induce a broad, strong and long-lasting antigen
specific immune response, which correlates with clinical responses in cancer
patients.

Nykode's lead product candidates are VB10.16, a therapeutic vaccine for the
treatment of HPV16 induced malignancies, which demonstrated favorable safety and
efficacy results from its Phase 2 trial for the treatment of cervical cancer.
VB10.16 is being expanded into multiple trials for treatment of head and neck
cancer and cervical cancer. VB10.NEO, an individualized cancer neoantigen
vaccine, is exclusively out-licensed to Genentech, a member of the Roche Group.

The Company's partnerships include Genentech within oncology, and a multi-target
collaboration with Regeneron in oncology and infectious diseases.

Nykode is also utilizing its APC-targeted technology to create an inverse
vaccine platform for the potential use in autoimmune disorders, organ transplant
rejections, anti-drug antibody reactions and allergy.

Nykode Therapeutics' shares are traded on the Oslo Stock Exchange (OSE: NYKD).
Further information about Nykode Therapeutics can be found at
http://www.nykode.com.


Forward-looking statements for Nykode Therapeutics
This announcement and any materials distributed in connection with this
announcement may contain certain forward-looking statements. By their nature,
forward-looking statements involve risk and uncertainty because they reflect the
company's current expectations and assumptions as to future events and
circumstances that may not prove accurate. A number of material factors could
cause actual results and developments to differ materially from those expressed
or implied by these forward-looking statements.


Contact for Nykode Therapeutics ASA:
Alexandra Deschner, Head of IR
Nykode Therapeutics ASA
IR@nykode.com

Nykode Therapeutics ASA
Oslo Science Park
Gaustadalléen 21
N-0349 Oslo, Norway