NeuroSearch and GlaxoSmithKline initiate second clinical Phase II study with NS2359 in depression

Announcement                                                                    


NeuroSearch and GlaxoSmithKline initiate second clinical Phase II study with    
NS2359 in depression                                                            

Under their strategic alliance with NeuroSearch, GlaxoSmithKline (GSK) has      
initiated the second of two studies in a Phase II development programme with the
drug candidate NS2359 (GSK372475) in patients diagnosed with major depressive   
disorder. This second Phase II study will be conducted in parallel with the     
first study, which was initiated in December 2006. Both studies will be         
conducted in multiple centres worldwide and each study will involve several     
hundred patients.                                                               

The second Phase II study is a ten-week, randomized, double-blind,              
placebo-controlled study to evaluate the efficacy of NS2359 or extended release 
venlafaxine compared to placebo.                                                

NS2359 is a triple monoamine re-uptake inhibitor with a new, unique drug profile
expected to yield important benefits compared to existing treatments of         
depression. Enhancing the function of the three neurotransmitters serotonin,    
noradrenalin and dopamine, NS2359 has a desired “triple-mode-of-action”. This   
mode of action is intended to produce an optimal reduction in all disease       
symptoms and the possibility of an earlier onset of action compared to          
antidepressants already on the market. A previous clinical study in adults with 
attention deficit hyperactivity disorder has shown that NS2359 induces a        
significant improvement of cognitive functions, and this activity may contribute
further to the significantly improved medical treatment of depression.          

Under the development and licensing agreement from December 2003, GSK was       
granted a license for NS2359. GSK is financing all future development costs, and
NeuroSearch is entitled to receive sizeable clinical milestone payments and     
attractive royalties on sales.                                                  

The initiation of a second clinical Phase II study with NS2359 in MDD does not  
influence on NeuroSearch's financial guidance for 2007.                         


Asger Aamund                                                                    
Chairman                                                        


Contact persons:                                                                
Flemming Pedersen, CEO                                                          
Tel.: +45 4460 8214 or +45 2148 0118                                            

Hanne Leth Hillman, Vice President, Director of Investor Relations & Corporate  
Communications                                                                  
Tel.: +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. 
Nine 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.