NeuroSearch's license partner Astellas initiates clinical Phase Ib study with ACR16 in patients with schizophrenia

Announcement                                                                    

NeuroSearch's license partner Astellas initiates clinical Phase Ib study with   
ACR16 in patients with schizophrenia                                            

NeuroSearch's development and license partner Astellas Pharma (Astellas) has    
enrolled and dosed the first patients in a clinical Phase Ib study with the drug
candidate ACR16 for the treatment of schizophrenia.                             

The Phase Ib study is a placebo-controlled, multiple-dose escalating study to   
evaluate the safety and tolerability of ACR16 in patients with schizophrenia.   
The study will be performed in the US and include up to 60 patients. While this 
study assesses primarily the safety and tolerability, scores on the PANSS       
(Positive and Negative Symptoms' Scale) will be included as an efficacy measure.

ACR16 is a novel compound in the pharmacological class of CNS active agents     
called dopaminergic stabilizers. Dopaminergic stabilizers are compounds that can
both enhance and counteract dopamine-dependent functions in the brain, depending
on the initial level of dopaminergic activity. ACR16 also enhances the          
glutamatergic function and the compound has shown promising behavioural effects 
in preclinical models for psychoses including schizophrenia.                    

Astellas holds the rights to ACR16 for all indications except for Huntington's  
disease, where NeuroSearch has the rights in North America and Europe.          
NeuroSearch is preparing for the initiation of clinical Phase III studies with  
ACR16 for the treatment of Huntington's disease.                                

The initiation of the Phase Ib study with ACR16 in schizophrenia does not change
NeuroSearch's financial expectations for 2007 of a loss before tax of DKK 80 -  
100 million.                                                                    


Asger Aamund                                                                    
Chairman of the Board                                                           


Contact persons:

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

Hanne Leth Hillman, Vice President, 
Director of Investor Relations & Corporate Communications
Phone: +45 4460 8212 or +45 4017 5103

                          
NeuroSearch is a Scandinavian biopharmaceutical company listed on the Copenhagen
Stock Exchange (NEUR). Our core business covers the development of novel drugs, 
based on a broad and well-established drug discovery platform focusing on ion   
channels and diseases of the central nervous system (CNS). 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. 
Eight drug programmes are in clinical development: ACR16 for the treatment of   
Huntington's disease (under preparation for Phase III), tesofensine for the     
treatment of obesity/type 2 diabetes (Phase II), NS2359 for the treatment of    
depression (Phase II) and ADHD (Phase II) in partnership with GSK, NS1209 for   
the treatment of epilepsy and pain (Phase II), ABT-894 for the treatment of ADHD
(Phase II) and neuropathic pain (Phase I) in partnership with Abbott, ACR16 for 
the treatment of schizophrenia (Phase I) in partnership with Astellas, and      
ACR325 for the treatment of psychoses and bipolar disorder (Phase I). In        
addition, NeuroSearch has a broad portfolio of preclinical drug candidates and  
has equity interests in several biotech companies.