Management to host webcast on April 1, 2022, at 11.30 a.m. CET / 5.30 a.m. ET

Oslo, Norway, March 31, 2022 - Nykode Therapeutics AS (Euronext Growth (Oslo):
NYKD), a clinical-stage biopharmaceutical company dedicated to the discovery and
development of vaccines and novel immunotherapies, today announced that the
Board of Directors has approved the Company's financial statements for 2021.

"2021 was another year of significant progress for Nykode," said Michael Engsig,
Chief Executive Officer of Nykode Therapeutics. "We launched our new company
name and brand identity, a first step in our journey to become a leading global
immunotherapy company. We signed two transformative research licensing
agreements with Adaptive Biotechnologies and Regeneron, which will accelerate
the development of our technology platform across multiple areas of high unmet
need. In addition, we made substantial progress in the development of our
oncology and infectious disease pipelines, including dosing the first subjects
in our Phase I/II clinical trial of Nykode's next-generation SARS-CoV-2 vaccine
candidates. Furthermore, we expanded and evolved the organization to over 100
employees, adding new valuable skills and capabilities to our team. We believe
Nykode is well-positioned to continue to execute on our world-class
collaborations and advance our technology platform and clinical programs, and we
look forward to sharing updates this year."


Highlights for 2021

o	March - Adopted IFRS (International Financial Reporting Standards) and
announced initiative to explore a potential listing of its shares on the Nasdaq
Global Market in the US

o	March - Nykode's first IND was opened in the VB10.NEO program

o	June - Initiated a Phase I/II trial to evaluate two next-generation SARS-CoV-2
virus DNA vaccine candidates to address emerging variants of concern

o	July - Entered into worldwide in-licensing agreement with Adaptive
Biotechnologies for clinically validated SARS-CoV-2 T cell epitopes to combine
in next-generation T cell vaccine candidate to specifically address emerging
SARS-CoV-2 variants of concern

o	November - First subject dosed in Phase I/II clinical trial with
next-generation SARS-CoV-2 vaccine candidates

o	November - Nykode announced a change of company name from Vaccibody to Nykode
Therapeutics

o	November - Entered into multi-target license and collaboration agreement with
Regeneron

o	December - Announced first subject dosed with its T cell-focused
next-generation SARS-CoV-2 vaccine candidate


Full year 2021 key figures 

o	Total operating income of USD 35.8 million in 2021, compared to USD 215.7
million in 2020 

o	Total operating expenses of USD 46.5 million in 2021, compared to USD 37.4
million in 2020

o	Net loss of USD 9.4 million in 2021, compared to a net profit of USD 149.8
million in 2020

o	Cash and cash equivalents of USD 216.2 million at year-end 2021, compared to
USD 183.9 million at year-end 2020

o	Other current financial assets of USD 12.2 million at year-end 2021, compared
to USD 24.9 million at year-end 2020

o	Total equity of USD 194.1 million at year-end 2021, compared to USD 178.9
million at year-end 2020

o	Total assets of USD 265.6 million at year-end 2021, compared to USD 230.0
million at year-end 2020


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The Company's annual accounts for the financial year 2021, including the
financial statements and annual report, are together with the auditor's report
attached to this announcement. 

Investors and analysts are invited to join a webcast presentation of the 2021
financial results conducted by CEO Michael Engsig and other members of
management April 1, 2022, at 11.30 a.m. CET / 5.30 a.m. ET.

An updated corporate presentation will be available in the Investors section of
the Company's website at 7:00 a.m. CET on April 1 at www.nykode.com/investors.
The live and archived webcast of the presentation can be accessed in the
Investors section of the Company's website
www.nykode.com/investors/financial-reports-and-presentations.  


About Nykode Therapeutics
Nykode Therapeutics is a clinical-stage biopharmaceutical company dedicated to
the discovery and development of vaccines and novel immunotherapies for the
treatment of cancer and infectious diseases. Nykode's modular vaccine technology
specifically targets antigens to Antigen Presenting Cells, which are essential
for inducing rapid, strong and long-lasting antigen specific immune responses
and eliciting efficacious clinical responses. 

Nykode's lead product candidates are VB10.16, a therapeutic vaccine for the
treatment of human papilloma virus 16 induced malignancies which is in Phase 2
for the treatment of cervical cancer