NeuroSearch issues warrants to the members of the Board of Directors, the Executive Management and other employees

Pursuant to Article 5a of the Articles of Association, the Board of Directors
has decided to issue up to 500,000 warrants to the members of the Board of
Directors, the Executive Management and other employees entitling the holders
to subscribe for shares of a total nominal value of up to DKK 10,000,000. The
distribution rate between the Board of Directors, Executive Management and
other employees has not yet been made. 

The exercise price of the warrants is fixed as the average trading price of the
NeuroSearch share in the period 13 - 28 May 2009 plus 10% p.a. According to
article 5a, the exercise price cannot be lower than DKK 146 per share. 

The value of the warrants granted is approximately DKK 17 million based on the
Black & Scholes model corresponding to approximately 13% of the total annual
gross payroll cost. 


Flemming Pedersen
CEO


Contact persons:
Flemming Pedersen, CEO, telephone: +45 4460 8214 or +45 2148 0118
Hanne Leth Hillman, Vice President, Director of Investor & Capital Market
Relations, telephone: +45 4017 5103 


NeuroSearch - Company profile  
NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on NASDAQ
OMX Copenhagen. The core business of the company covers the development of
novel pharmaceutical agents, based on a broad and well-established drug
discovery platform focusing on ion channels and central nervous system (CNS)
disorders. A substantial share of the activities is partner financed through
strategic alliances with Eli Lilly and Company and GlaxoSmithKline and a
license collaboration with Abbott. The drug pipeline comprises seven clinical
(Phase I-III) development programmes: ACR16 for Huntington's disease (Phase
III), tesofensine for obesity (Phase III ready), ABT-894 for ADHD (Phase II) in
partnership with Abbott, ACR325 to treat dyskinesias in Parkinson's disease
(Phase II ready), ACR343 for schizophrenia (Phase II ready), ABT-560 for the
treatment of various CNS disorders (Phase I) in collaboration with Abbott, and
NSD-788 for anxiety/depression (Phase I). In addition, NeuroSearch has a broad
portfolio of preclinical drug candidates and holds equity interests in several
biotech companies.