All antitrust contingencies required to close the agreement with Genentech,
regarding the development of individualized neoantigen cancer vaccines, have
been satisfied

Oslo, Norway, November 06, 2020 - Vaccibody AS, a clinical-stage
biopharmaceutical company dedicated to the discovery and development of novel
immunotherapies, today announced the closing of its exclusive worldwide license
and collaboration agreement with Genentech, a member of the Roche Group,
following expiration of the waiting period under the Hart-Scott-Rodino (HSR)
Antitrust Improvements Act of 1976, as amended. 

As announced on October 1, 2020, Vaccibody and Genentech have entered into an
agreement for the development and commercialization of DNA-based individualized
neoantigen vaccines. With the expiration of the HSR Act waiting period, the
agreement is now effective and Vaccibody is entitled to receive USD 200 million
in initial upfront and near-term payments.

Under the terms of the agreement, in addition to the USD 200 million in initial
upfront and near-term payments that Vaccibody is entitled to receive, Vaccibody
will be eligible to receive up to a further USD 515 million in potential
payments and milestones, plus low double-digit tiered royalties on sales of
commercialized products arising from the partnership. Through this partnership,
Genentech and Vaccibody will progress Vaccibody's investigational product
candidate, VB10.NEO, into clinical trials in the U.S. and in Europe. Following
completion of a planned Phase 1b trial, Genentech will have responsibility and
bear all costs for clinical, regulatory, manufacturing and commercialization
activities. 
 
About Vaccibody 
Vaccibody is a clinical-stage biopharmaceutical company dedicated to the
discovery and development of novel immunotherapies. The Company is using the
Vaccibody technology to generate best-in-class therapeutics against cancers and
infectious diseases with a high unmet medical need. 

Vaccibody is developing cutting-edge, targeted DNA vaccines for clinical use,
based on a deep understanding of immunological principles. Vaccibody's vaccines
specifically targets antigens to  Antigen Presenting Cells (APC), which are
essential for inducing rapid, strong and specific immune responses and elicit
efficacious clinical responses. By intelligent design, Vaccibody's vaccines can
be tailored to induce the desired immune response profile correlating with
protection for each specific disease with any given antigen. Hence, the
Vaccibody vaccine platform has the potential to address many disease areas with
a high unmet medical need such as cancer and infectious diseases. Vaccibody has
collaborations with Roche and Genentech, and Nektar Therapeutics and will pursue
further collaborations and strategic partnerships to maximize the value of its
technology platform.

Vaccibody's shares are traded on Merkur Market, a trading platform operated and
wholly owned by Oslo Børs ASA, the Oslo Stock Exchange.

Further information about the Company may be found at http://www.vaccibody.com  

Contact for Vaccibody: 
CEO Michael Engsig
Vaccibody AS
Cell: +45 6173 1509
mengsig@vaccibody.com 

Vaccibody AS 
Oslo Research Park 
Gaustadalléen 21 
0349 Oslo, Norway

Forward-looking Statements for Vaccibody
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.