NeuroSearch issues new shares in connection with exercise of warrants

Announcement



NeuroSearch issues new shares in connection with exercise of warrants 

Today NeuroSearch has increased its share capital by DKK 265,800 nominal value
equivalent to 13,290 shares of DKK 20 nominal value each as a consequence of
the exercise of warrants awarded in 2004. The number of outstanding warrants in
the 2004 program is now 97,945. The new shares subscribed under the warrant
program are issued without any pre-emption rights for the company's existing
shareholders or others and the subscription price is DKK 248.39 per share of
DKK 20 nominal value each. The new shares carry the right to dividend as of the
date of subscription and will be listed on the OMX Nordic Exchange Copenhagen
A/S after registration with the Danish Commerce and Companies Agency. Following
the capital increase, NeuroSearch A/S' share capital amounts to DKK 308,834,640
nominal value equivalent to 15,441,732 shares. 


Asger Aamund
Chairman of the Board



Flemming Pedersen, CEO, telephone: +45 4460 8214 or +45 2148 0118

Hanne Leth Hillman, Vice President, Director of IR & Corporate Communications,
telephone: +45 4460 8212 or +45 4017 5103




NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the
OMX Nordic Exchange Copenhagen A/S. Our core business covers the development of
novel drugs, based on a broad and well-established drug discovery platform
focusing on ion channels and CNS disorders. A substantial part of the company's
activities are partner financed through a broad alliance with GlaxoSmithKline
(GSK) and collaborations with among others Abbott and Astellas. The drug
pipeline comprises 12 clinical (Phase I-III) development programmes: ACR16 in
Huntington's disease (Phase III in preparation), tesofensine in obesity (Phase
III in preparation), NS2359 in depression (Phase II) and ADHD (Phase II) in
partnership with GSK, ABT-894 in ADHD (Phase II) and pain (Phase II) in
partnership with Abbott, ACR16 in schizophrenia (Phase I) in partnership with
Astellas, ACR325 in bipolar disorder/Parkinson's disease (Phase I), ABT-107 as
well as ABT-560 for the treatment of various CNS diseases - both (Phase I) in
collaboration with Abbott, NSD-644 in pain a.o. (Phase I) in partnership with
GSK and ACR343 in Parkinson's disease (Phase I). In addition, NeuroSearch has a
broad portfolio of preclinical drug candidates and holds equity interests in
several biotech companies.