Oslo, Norway, June 20, 2024 - Nykode Therapeutics ASA (OSE: NYKD), a
clinical-stage biopharmaceutical company dedicated to the discovery and
development of novel immunotherapies, today announced advancements in its
inverse vaccine platform at the annual Federation of Clinical Immunology
Societies (FOCIS) meeting in San Francisco.

Building on findings previously announced in March at the Antigen-Specific
Immune Tolerance Summit in Boston, Nykode presented extended therapeutic data
from the experimental autoimmune encephalomyelitis (EAE) model of Multiple
Sclerosis (MS). The updates included demonstrating the disease-modifying effects
of two distinct targeting units within its inverse vaccine platform in a
therapeutic regimen, highlighting the versatility and effectiveness of
antigen-presenting cell (APC)-targeting strategies.

At the conference, Nykode presented data, demonstrating a dose-dependent and
disease-modifying effect of its antigen-specific APC-targeting vaccine in a
therapeutic regimen, compared to the delivery of antigen alone, emphasizing the
platform's potential for effective antigen-specific treatment for autoimmune
disorders.

There are approximately 100 different autoimmune diseases affecting about 4% of
the world population, representing a significant unmet medical need for novel
treatments. Nykode is focusing on developing antigen-specific treatments for
autoimmune diseases by using its APC-targeting platform  to deliver a
tolerogenic response towards disease-associated antigens.

"These findings represent progress in our ongoing research into inverse vaccines
and autoimmune disease treatment," said Agnete Fredriksen, Chief Scientific
Officer and Co-founder of Nykode. "By exploring different targeting units and
their impact compared to antigen delivery, Nykode aims to refine therapies that
could offer new options for autoimmune conditions, aiming to develop a new class
of drugs that are antigen-specific, with the potential to be both long-lasting
and have limited side effects."

"We are excited about the progress and promise of Nykode's inverse vaccine
platform for the treatment of autoimmune diseases. We are planning initiatives
to advance our efforts, including establishing a subsidiary within Nykode
focused on further progressing the immune tolerance platform. This would allow a
clear focus and increased visibility of the value we believe is associated with
the technology. It will also serve as preparation for new partnerships and
potential direct ownership amongst Nykode shareholders," added Michael Engsig,
CEO.

Nykode presented a poster at FOCIS, with further details 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, including the potential registrational trial of
VB10.16 in HPV16-positive 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