TopoTarget A/S Symbion Fruebjergvej 3 DK 2100 Copenhagen Denmark Tel: +45 39 17 83 92 Fax: +45 39 17 94 92 CVR-nr: 25695771 www.topotarget.com To the Copenhagen Stock Exchange Announcement No. 17-07 / Copenhagen, 30 May 2007 TopoTarget has received an approvable letter for Totect Copenhagen, Denmark - 30 May 2007 - TopoTarget A/S (Copenhagen Stock Exchange: TOPO) announces that the US Food and Drug Administration (FDA) has issued an approvable letter for Totect™ for the treatment of anthracycline extravasation. The FDA has informed TopoTarget that a technical issue remains to be resolved with respect to the approval, and thus TopoTarget has received an “approvable” reply instead of the expected “approved”. In general, the FDA sends an approvable letter if the application substantially meets the requirements and if the agency believes that it can approve the application when additional satisfactory information has been submitted and reviewed by the FDA. A Totect™ treatment kit consists of the active compound and a liquid solvent in which the compound is to be dissolved. TopoTarget's application had included two alternative solvents from two different subsuppliers. One of the subsuppliers will need to forward supporting documentation to the FDA to comply with the FDA's requirements. “We are happy that we are closer to an approval, and that we have succeeded in resolving a number of technical issues, but it is frustrating that this technical complication arose in the eleventh hour. I am confident that we will receive the approval, but a delay is unavoidable. Nevertheless, we continue to believe that we will be able to launch Totect™ for the US market in the second half of 2007,” says Peter Buhl Jensen, CEO of TopoTarget. The required further documentation will be submitted by TopoTarget's subsupplier/TopoTarget with the aim of ensuring that the relevant solvent complies with the FDA's requirements. Totect™, the US brand used for Savene™, which was launched in the major European markets in October 2006, is used as a therapy when the chemotherapeutic agent anthracycline accidentally leaks into the surrounding healthy tissue. Savene™ is the only approved treatment of the serious tissue damage that may result from accidents with chemotherapy. Despite the utmost caution being taken when anthracyclines are used in chemotherapy, accidents occur in up to 1% of all treatments. This may damage a patient's tissue and cause painful scarring, leading to severe injury and malformations. In addition, it may lead to a postponement of the chemotherapy. Savene™/Totect™ has obtained Orphan Drug status in Europe and the United States, providing marketing exclusivity for periods of ten and seven years, respectively. TopoTarget still expects to be able to launch Totect in the US during second half of 2007 and consequently does not expect to change the outlook for the 2007 financial result. TopoTarget A/S For further information, please contact: Dr. Peter Buhl Jensen Telephone +45 39 17 83 41 Chief Executive Officer Mobile +45 21 60 89 22 Tim Corcoran Telephone +44 1235 443 713 Chief Operating Officer Mobile +44 787 656 1027 About Totect™ (Savene™) Savene™ is a catalytic inhibitor of Topoisomerase II, an enzyme found in the cell nucleus. Topoisomerase enzymes are essential for cell growth and proliferation and the target for a group of anti-cancer chemotherapeutics called anthracyclines. Savene™ blocks the activity of the topoisomerase enzyme and prevents the effect of anthracyclines. Savene™ is used as a detoxifying agent, administered intravenously as an antidote following an extravasation. An extravasation is a serious clinical accident in which anthracyclines accidentally leak into surrounding tissue. The high concentration of drug causes severe and cumulative damage to the skin, subcutaneous tissue, muscle and nerves. Current treatment often involves surgical removal of the tissue followed by plastic surgery and rehabilitation. About TopoTarget TopoTarget (OMX - The Nordic Exchange: TOPO) is a biopharmaceutical company, headquartered in Denmark and with subsidiaries in the UK, Germany and the USA, dedicated to finding ''Answers for Cancer'' and developing improved cancer therapies. TopoTarget is founded and run by clinical cancer specialists and combines years of hands-on clinical experience with in-depth understanding of the molecular mechanisms of cancer. Focus lies on highly predictive cancer models and key cancer enzyme regula-tors (mainly HDAC, mTOR, and topoisomerase II inhibitors) and a strong development foundation has been built. TopoTarget has a broad portfolio of small molecule preclini-cal drug candidates and seven drugs are in clinical development, including both novel anti-cancer therapeutics and new cancer indications for existing drugs. Savene™ is TopoTarget's first product on the market. In addition to organic growth, TopoTarget consistently looks for opportunities to strengthen and expand its activities through acquisitions and in-licensing. For more information, please refer to www.topotarget.com. TopoTarget Safe Harbour Statement This announcement may contain forward-looking statements, including statements about our expectations of the progression of our preclinical and clinical pipeline includ-ing the timing for commencement and completion of clinical trials and with respect to cash burn guidance. Such statements are based on management's current expecta-tions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. TopoTarget cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: the risk that any one or more of the drug development programs of TopoTarget will not proceed as planned for technical, scientific or commercial reasons or due to patient enrolment issues or based on new information from nonclinical or clinical studies or from other sources; the success of competing products and technolo-gies; technological uncertainty and product development risks; uncertainty of addi-tional funding; TopoTarget's history of incurring losses and the uncertainty of achieving profitability; TopoTarget's stage of development as a biopharmaceutical company; government regulation; patent infringement claims against TopoTarget's products, processes and technologies; the ability to protect TopoTarget's patents and proprietary rights; uncertainties relating to commercialization rights; and product liability expo-sure; We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.