NeuroSearch today publishes an offering circular in connection with a rights issue of up to a maximum of 7,387,641 new shares with a nominal value of DKK 20 each at DKK 60 per share (the


Copenhagen, 19 October 2009 - NeuroSearch A/S (NEUR) (the “Company”) today
publishes an offering circular in connection with an offering of shares with
preemptive rights to the shareholders of the Company. Reference is made to the
offering circular in its entirety for a description of the Company and the
Offering. 

The subscription ratio is 3:7 which means that shareholders will be allocated
three (3) preemptive rights for each existing share held and that seven (7)
preemptive rights entitle shareholders to subscribe for one (1) new share
against payment of the offer price. 


Reasons for the Offering and use of proceeds 
The reason for the Offering is to provide NeuroSearch with funding for future
development of its pipeline, for research activities, general corporate
purposes and to strengthen NeuroSearch's negotiating position in relation to
licence partners. The gross proceeds from the Offering are expected to amount
to approximately DKK 443 million if the Offering is fully subscribed. 

Flemming Pedersen, CEO of NeuroSearch commented;

”It is our vision to transform NeuroSearch from being solely an innovative
research and development focused company into becoming a fully integrated CNS
speciality pharma company. In the coming year we expect to be able to initiate
market registration of our first product - Huntexil™ for the treatment of
Huntington's disease - while also advancing a broad pipeline of other promising
drug candidates. We are determined to make this succeed and wish to strengthen
our capital resources to maximise NeuroSearch's strategic position for
continued development.” 


Offering 
The Offering comprises up to a maximum of 7,387,641 new shares with a nominal
value of DKK 20 each with preemptive rights to the existing shareholders. 

Offer price 
The offered shares are offered at DKK 60 per share, free of brokerage. 

Preemptive rights 
On Monday 26 October 2009 at 12.30 p.m. CET, the Company's shareholders will be
allocated three (3) preemptive rights for each existing share with a nominal
value of DKK 20 each held in the Company. Shares traded after Wednesday, 21
October 2009 at 5:00 pm CET, will be traded ex preemptive rights and,
accordingly, will not entitle the holder to subscribe for offered shares at the
offer price. 

Subscription ratio 
Seven (7) preemptive rights will entitle the holder to subscribe for one (1)
offered share against payment of the offer price. 

Subscription period 
The subscription period for the offered shares commences on Tuesday, 27 October
2009 at 9.00 am CET, and closes on Monday, 9 November 2009 at 5.00 pm CET.
Preemptive rights that are not exercised during the subscription period will
lapse with no value, and the holder of such preemptive rights will not be
entitled to compensation. 

Listing and trading of the offered shares 
The offered shares will be registered under a temporary ISIN code. The offered
shares will not be traded and officially listed on NASDAQ OMX Copenhagen A/S
under the temporary ISIN code. The temporary ISIN code is expected to be merged
with the permanent ISIN code for the Company's existing shares (DK0010224666)
with VP Securities as soon as possible following the registration of the
capital increase with the Danish Commerce and Companies Agency. The merger of
the ISIN codes will take place in VP Securities and is expected to occur on
Tuesday, 17 November 2009. 

Trading in preemptive rights 
The preemptive rights for the offered shares may be traded on NASDAQ OMX
Copenhagen A/S from Thursday, 22 October 2009 at 9.00 am CET, until Wednesday,
4 November 2009 at 5.00 pm CET. 

Underwriting 
The Offering is not underwritten. 

Joint Global Coordinators 
Danske Markets (division of Danske Bank A/S) and Handelsbanken Capital Markets
(division af Svenska Handelsbanken AB (publ)) are Joint Global Coordinators for
the Offering. 


Offering circular 
Requests for copies of the offering circular containing detailed information on
NeuroSearch and the Offering may be addressed to: 

Danske Bank A/S Corporate Actions 
Holmens Kanal 2-12 
DK-1063 Copenhagen K 
Telephone: +45 70 23 08 34
E-mail: prospekter@danskebank.dk.	Handelsbanken Capital Markets 
Havneholmen 29 
DK-1561 Copenhagen V 
Telephone: +45 33 41 86 14 
E-mail: prospekt@handelsbanken.dk  



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 4460 8212 or +45 4017 5103





About NeuroSearch 
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 Janssen Pharmaceutica, Eli Lilly and Company and
GlaxoSmithKline (GSK), and a license collaboration with Abbott. The drug
pipeline comprises eight clinical (Phase I-III) development programmes:
Huntexil™ (pridopidine) for Huntington's disease (Phase III), tesofensine for
obesity (Phase III ready), ABT-894 for ADHD (Phase II) in partnership with
Abbott, ACR343 for schizophrenia (Phase II ready), ACR325 to treat dyskinesias
in Parkinson's disease (Phase Ib), ABT-560 for the treatment of cognitive
dysfunctions (Phase I) in collaboration with Abbott, NSD-788 for anxiety (Phase
I) and NSD-721 for social anxiety disorder (Phase I) in partnership with GSK.
In addition, NeuroSearch has a broad portfolio of preclinical drug candidates
and holds equity interests in several biotech companies. 


Forward looking statement disclaimer
This announcement contains certain forward-looking statements, including
statements about the Company's business and the Offering. Such forward-looking
statements are based on data, assumptions and estimates that the Company
considers to be reasonable. They may change or be amended owing to
uncertainties related to the economic, financial, competitive and regulatory
environment, and market conditions. In addition, the Company's business
activities and its ability to meet its goals may be adversely affected if one
or more of the risks that are set forth in the offering circular prepared by
the Company for the purposes of the Offering materialise, or if other risks,
currently unforeseen or considered insignificant, materialise.  The Company
does not undertake to meet or give any guarantee that it will meet its goals. 
Investors are urged in particular to pay careful attention to the risk factors
described in the offering circular before making their investment decision.

Attachments

facade_04_beskaret.jpg fonds.56-09 - prospectus - uk - final.pdf