Pursuant to article 7 of the articles of association the shareholders of Pharmexa A/S are hereby convened to an ordinary general meeting

To the shareholders of	Unauthorised translation
Pharmexa A/S


Pursuant to article 7 of the articles of association the shareholders of
Pharmexa A/S are hereby convened to an ordinary general meeting on 

Tuesday, 24 April 2007 at 3:30 p.m.

to be held at Søhuset, Venlighedsvej 10, DK-2970 Hørsholm, with the following
agenda: 

1.	The board of directors report on the company's activities during the past
year. 

2.	Submission of the annual report for adoption and discharge of the board of
direc-tors and the management. 

3.	The board of directors' proposal to distribution of the profit or settlement
of loss. 

4.	Proposals from the board of directors or any proposals from shareholders in
ac-cordance with Article 8.4. 

4.A.	As the existing authorisation to the board of directors to issue shares in
connec-tion with acquisitions or capital increases expires on 31 December 2007
the board of directors proposes that the authorisation is prolonged until 31
Decem-ber 2008 in order that the articles of association, article 4,
sub-article 4.1 is amended to following wording: 

	"For the period ending on 31 December 2008 the board of directors shall be
authorised to increase the share capital of the company on one or more
occa-sions with up to nominally DKK 375.056.050 (37.505.605 shares of DKK 10)
ne-gotiable registered shares which shall rank equally with the existing share
capi-tal. The capital increase may be paid in by cash payment as well as
otherwise. If the subscription price is equal to the market price the board of
directors may de-cide that the subscription shall be without pre-emption rights
for the sharehold-ers. If the capital increase is being carried out by
conversion of debt or as remu-neration of acquiring of already existing
activities the shareholders shall have no pre-emptive rights. Additional terms
and conditions of the share subscription are determined by the board of
directors." 

4.B.	The board of directors propose that article 13.1 of the company's articles
of as-sociation is amended so that Jørgen Buus Lassen, who pursuant to the
articles of association has reached the retirement age of board members, may
continue as a board member until the company's annual general meeting in 2008.
The board of directors proposes that article 13.1 of the articles of
association, last sentence, is changed as follows: "No member shall be entitled
to be on the board of directors after the first annual general meeting in the
calendar year in which the member attains the age of 70, as far as Jørgen Buus
Lassen is con-cerned in the calendar year in which he attains the age of 74." 

5.	Election of members to the board including the proposal that Ole Steen
Ander-sen, Executive Vice President of Danfoss, and Karen Lykke Sørensen,
Manag-ing Director of Sanofi-Aventis in Denmark, is elected new members of the
board of directors. Arne Gillin has announced that he wishes to resign from the
board of directors after having been member of the board for more than 9 years. 

6.	Election of state authorised accountants.

7.	Authorisation of the chairman of the general meeting to register the
solutions passed by the general meeting with the Danish Commerce and Companies
Agency and to make such addition, alteration or amendment thereto or therein,
including the company's articles of association, as the Danish Commerce and
Companies Agency may require for registration. 

Adoption by the general meeting of the proposals mentioned under item 4.A. and
4.B. is subject to the requirement that at least two-thirds of both the votes
cast and the repre-sented voting share capital vote in the affirmative, cf.
article 12 of the articles of asso-ciation, cf. section 78 of the Danish
Companies Act. 

Shareholders wishing to attend the general meeting must order an admission card
from Aktiebog Danmark A/S not later than Thursday 19 April 2007. Shareholders,
who are not registered in the company's register of shareholders and who wish
to attend the general meeting, must present documentation from their
account-holding institution to substantiate their shareholding, which
documentation must be dated within the last eight days. Furthermore, the
shareholders must submit a written statement to the effect that the shares have
not been and will not be transferred to any third party before the general
meeting has ended. 

Voting rights may be exercised by an instrument of proxy given to a person who
need not be a shareholder of the company. An instrument of proxy shall be
deemed to be in force until revoked in writing by notification to the company
unless it contains conflicting provisions. An instrument of proxy must not be
issued for more than one year. 

The agenda, including the complete proposals to be considered at the general
meeting and the company's annual report for 2006 including the auditors' report
and signed by the managing director and the board of directors is available at
the registered office of the company for inspection by the shareholders eight
days before the general meeting and is also available on the company's website:
http://www.pharmexa.com. 

Hørsholm, 2 April 2007
Pharmexa A/S
On behalf of the Board of Directors