The Company previously announced that the PREVENT-nCoV consortium, in which the Company is a partner, plans to enter the first clinical Phase I/IIa trial before the end of 2020, with headline results announced towards the end of Q1, 2021. The first trial will test the vaccine's safety as well as surrogate markers of efficacy (immune response). The Company now further announces that it expects the vaccine to enter phase III trials in the first half of 2021. If so, the vaccine could be ready for market launch already by the end of 2021. These milestones reflect current plans and expectations and are subject to the Company's development partners receiving the funding needed to carry out a 20-30.000 patient trial in the next few months, and not least, approval from the regulatory authorities.

ExpreS[2]ion's CEO Bent Frandsen comments:

"The pandemic itself, and the search for vaccines, continues to evolve. Last week saw the EU placing the first advanced purchase order for 300 million doses of the viral vector vaccine that AstraZeneca and Oxford University has in phase II/III development. We can expect to see a lot more of these types of announcements over the coming months, and a lot of additional funding being awarded. If all goes well, ExpreS[2]ion could see significant cash flows from COVID-19 vaccine sales starting within the next 12-18 months. Our expectation is that well over half a billion doses of our vaccine will eventually be needed over the next four to five years. This number could increase if the virus becomes endemic. Which sadly, it very well might."

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