Mymetics Corporation Announces Initiation of Research Coverage by Khandaker Partners

NYON, Switzerland, Dec. 3, 2008 (GLOBE NEWSWIRE) -- Mymetics
Corporation (OTCBB:MYMX) announced today that Khandaker Partners has
initiated coverage (www.mymetics.com) with an intermediate term price
range of $1.20 for its common stock. Mymetics is a Swiss biotech
company with a mucosal AIDS vaccine candidate entering Human Clinical
Phase I trials and a long term Malaria vaccine in Phase II Human
Clinical trials.

The Research Report states, "The outlook for the company is positive
as the HIV and malaria vaccine markets are largely unexplored. The
company is developing vaccines using a novel technology, and is,
therefore, likely to capture a significant market share."

Khandaker has valued the company using a conservative set of DCF
parameters including a risk-free rate of 3.18%, risk premium of
8.84%, and beta of 0.62 to calculate the company's cost of capital.
Khandaker further assumed an additional risk premium of 2.00% to
account for the opportunity risks faced by the company. Included in
the valuation is the market potential for a HIV vaccine based on the
growing HIV population across the globe and the estimated market
potential of their malaria vaccine based on the current incidence
data of malaria.

About Mymetics Corporation

Mymetics' corporate objective is to develop vaccines and therapies to
prevent and treat the effects of certain retroviruses and other
infectious diseases, including HIV/AIDS and Malaria. In Q4 2008
Mymetics will commence Phase 1b Human Clinical trials of their
HIV/AIDS preventative vaccine candidate which showed extremely
promising results (see Press Release September 16, 2008) as well as
continuing Mymetics' long term Malaria vaccine in Phase II Human
Clinical trials. Additional applications of Mymetics' research
include potential treatments and/or vaccines for human oncoviral
leukemias, multiple sclerosis, and organ transplantation. Long range
growth plans key to Mymetics' development include acquisitions of
prophylactic or therapeutic vaccines against breast cancer,
candidiasis, RSV, malaria and hepatitis.

The Mymetics Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5478

CONTACT: Mymetics, Inc.
Anthony Jessop, Senior Vice President
1 303 800 6606
ajessop@mymetics.com

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