Announcement NeuroSearch's license partner Abbott initiates clinical Phase I study with ABT-107 NeuroSearch's development and license partner Abbott has enrolled and dosed the first patients in a clinical Phase I study with the drug candidate ABT-107, which has treatment potential within a variety of CNS disorders. ABT-107 is a neuronal nicotinic receptor (NNR) modulator, which has shown promise in preclinical models relevant for the treatment of cognitive deficits. According to the terms of the license agreement, Abbott has all rights to ABT-107 and will finance all costs relating to the development and commercialisation of the drug. NeuroSearch will receive milestone payments as well as royalties on Abbott's global sales, if the drug is successfully commercialised. The initiation of the Phase I study with ABT-107 releases a milestone payment to NeuroSearch. NeuroSearch maintain financial expectations for 2007 of a loss before recognition of associates and other equity interests in the region of DKK 80 - 100 million. Asger Aamund Chairman of the Board Contact persons: Flemming Pedersen, CEO, telephone: +45 2148 0118 Hanne Leth Hillman, Vice President, Director of Investor Relations & Corporate Communications, telephone +45 4460 8212 or +45 40175103 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 channel and CNS disorders. 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. The drug pipeline comprises nine clinical development programmes: 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 such as bipolar disorder (Phase I). In addition, NeuroSearch has a broad portfolio of preclinical drug candidates and has equity interests in several biotech companies.
NeuroSearch's license partner Abbott initiates clinical Phase I study with ABT-107
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