Report of transactions with shares and related securities of NeuroSearch by persons discharging managerial responsibilities and persons/companies closely associated with these

Insiders' dealing                                                               



Report of transactions with shares and related securities of NeuroSearch by     
persons discharging managerial responsibilities and persons/companies closely   
associated with these                                                           

Pursuant to section 28a of the Danish Act on Securities Trading, NeuroSearch A/S
(NEUR.CO) shall make public, transactions with shares and related securities of 
NeuroSearch A/S by persons discharging managerial responsibilities and          
persons/companies closely associated with these.                                


Name: Nicholas Waters                                                           
Reason: CEO, NeuroSearch Sweden AB                                              
Issuer and ID code / ISIN: NeuroSearch A/S / DK0010224666                       
Transaction: Sale of shares                                                     
Trading date: 27 May 2008                                                       
Market: The OMX Nordic Exchange Copenhagen A/S                                  
Number (pcs): 4,000                                                             
Market value (DKK): 1,082,240                                                   


Contact person:                                                                 
Anita Milland, Vice President, CFO, telephone: +45 2016 3432                    



NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the OMX
Nordic Exchange Copenhagen A/S. The 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 NeuroSearch's activities are partner financed through a broad alliance with  
GlaxoSmithKline (GSK) and collaborations with among others Abbott and Astellas. 
The drug pipeline comprises 13 clinical (Phase I-III) development programmes:   
ACR16 in Huntington's disease (Phase III), 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 (Phase I), ABT-107 as well as ABT-560 for the treatment of     
various CNS disorders - both (Phase I) in collaboration with Abbott, NSD-644 in 
pain (Phase I) in partnership with GSK, ACR343 in Parkinson's disease (Phase I) 
and NSD-788 in anxiety/depression (Phase I). In addition, NeuroSearch has a     
broad portfolio of preclinical drug candidates and holds equity interests in    
several biotech companies.