Bavarian Nordic Research Institute A/S of Denmark says that 2000 was asatisfactory year, despite having posted a higher-than-expected net loss of 74.8 million Danish kroner ($9.3 million). In 1999, the group's losses totalled 65.0 million kroner. Bavarian Nordic claimed that most of its development projects are progressing well, and noted that the firm had been granted approval to start Phase I/II safety studies of its HIV vaccine, MVA-BN, in Germany. The vaccine is based on an MVA F6 vector that overproduces HIV nef protein (Marketletter February 21, 2000).
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