To the OMX Nordic Exchange Copenhagen Announcement No. 29 / Copenhagen 7 August 2007 Update on clinical trials of belinostat Copenhagen, Denmark - 7 August 2007 - TopoTarget A/S (Copenhagen Stock Exchange: TOPO) announced today an update on belinostat an intravenous and oral pan HDACi for the treatment of multiple cancer indications in clinical development. Belinostat is developed as an intravenous and oral administration and is currently evaluated in a total of 15 studies run by CuraGen, TopoTarget and the NCI (National Cancer Institute, US). TopoTarget whishes to give an update on the following trials: Belinostat in combination with Velcade® (bortezomib) for Injection against Multiple Myeloma (MM) In the Phase II open-label clinical trial evaluating intravenous belinostat in combination with Velcade® (bortezomib) for Injection in patients with advanced, refractory MM, two out of four patients enrolled developed acute deterioration in already existing renal insufficiency (ARI) in the first cycle of combination treatment. ARI is a common complication in the treatment of MM patients due to deposition of myeloma protein in the kidney. Three similar events were seen in previously conducted single agent studies with belinostat in patients with MM. No ARI has been observed in any other indication for which intravenous or oral belinostat is being evaluated. An ongoing Phase I NCI-sponsored clinical trial evaluating intravenous belinostat plus Velcade® (bortezomib) for Injection against solid tumors and lymphoma remains open for enrollment and is continuing to treat patients with the combination. Peter Buhl Jensen, CEO of TopoTarget said, "Our data show that this finding is limited to patients with multiple myeloma, a population known to be at risk of this complication due to pre-existing renal changes. Until we know more about how to prevent the complication in this specific patient population, we have decided not to enroll further patients in this trial and will focus our resources onto the other ongoing studies in cancer indications where belinostat is demonstrating a therapeutic benefit. We have reported positive preliminary safety and efficacy data from three indications including single agent activity against peripheral T-cell lymphoma and cutaneous T-cell lymphoma, as well as the combination of belinostat with carboplatin and paclitaxel in the treatment of ovarian cancer. We are very excited about the activity reported in these indications, as we feel they represent potential registrational paths for belinostat and look forward to reporting updated results in the fourth quarter of 2007." Belinostat in combination with carboplatin and paclitaxel against ovarian cancer To date, three partial responses (two confirmed, one unconfirmed) have been achieved in the 23 heavily pretreated patients with recurrent ovarian cancer enrolled, of which 14 patients remain on study with best response yet to be determined. The response rate observed in Stage I of the study design has triggered expansion of enrollment to a total of 32 patients in this Phase II Simon-Two stage design clinical trial in order to gain a better estimate of the objective response rate and duration of response. TopoTarget anticipates presenting updated results during the fourth quarter of 2007. Belinostat in combination with carboplatin and paclitaxel against bladder cancer Patient treatment was recently initiated in this Phase II open-label trial. A total of 15 patients with transitional cell cancer of the bladder will be enrolled to evaluate the safety and efficacy of intravenous belinostat in combination with carboplatin and paclitaxel. Peter Buhl Jensen further commented, “We are excited by the extent of activity we have seen with belinostat in combination with carboplatin and paclitaxel, and look forward to further assessing the activity of the combination from the maturing data in recurrent ovarian cancer and transitional cell cancer of the bladder.” Belinostat in combination with idarubicin against Acute Myelogenous Leukemia (AML) A Phase I/II clinical trial evaluating belinostat in combination with the idarubicin for the treatment of AML is being initiated at multiple sites in the EU. Patients under the age of 60 with relapsed or refractory AML, or patients over 60 with newly diagnosed or previously treated AML, are eligible for enrollment in the trial. Up to 70 patients will be enrolled and receive intravenous treatment in one of two regimens. Patients will either receive intravenous belinostat administered once daily for five days in combination with idarubicin or a continuous infusion of belinostat with or without idarubicin. Enrollment into the treatment arms will occur in parallel to define the maximum tolerated dose (MTD) for each treatment regimen. 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 Background information About TopoTarget TopoTarget (OMX - The Nordic Exchange: TOPO) is a biotech company, headquartered in Denmark and with subsidiaries in the UK, Germany, Switzerland and the US, 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 targets (including HDACi, NAD+, mTOR, Fasligand and topoisomerase II inhibitors) and a strong development foundation has been built. TopoTarget has a broad portfolio of small molecule pre-clinical drug candidates and eight drugs (both small molecules and protein based) 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. The product is expected to be approved and launched in the US in the second half of 2007. 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 including the timing for commencement and completion of clinical trials and with respect to cash burn guidance. Such statements are based on management's current expectations 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 non-clinical or clinical studies or from other sources; the success of competing products and technologies; technological uncertainty and product development risks; uncertainty of additional 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.