Oslo, Norway, July 9, 2025 - Nykode Therapeutics ASA (OSE: NYKD), a
clinical-stage biopharmaceutical company dedicated to the discovery and
development of novel immunotherapies, today announced that a total of 12,795,000
share options have been granted to employees of Nykode Therapeutics ASA under
the company's share option scheme, of which 8,250,000 share options have been
granted to primary insiders. The share options will have a strike price of NOK
7.00 per share, have a five-year term and will vest equally over a four-year
vesting period.

Concurrently with the grant, a total of 7,376,973 previously granted share
options, of which 6,075,906 relate to primary insiders, will be cancelled. The
cancelled share options represent substantially all outstanding options in
Nykode Therapeutics ASA prior to the new grant. 

Please see further details in attached document.