LifeCycle Pharma Initiates Phase II Clinical Trial for LCP-Tacro, an Immunosuppressant to Prevent Organ Rejection in Liver Transplant Recipients

Company Announcement no. 32/2007                                                

To: OMX Nordic Exchange			Hørsholm, Denmark, December 3, 2007


      LifeCycle Pharma Initiates Phase II Clinical Trial for LCP-Tacro, an      
  Immunosuppressant to Prevent Organ Rejection in Liver Transplant Recipients   

Hørsholm, Denmark, December 3, 2007; LifeCycle Pharma A/S (OMX: LCP) (the       
“Company” or “LCP”), an emerging specialty pharmaceutical company, today        
announced that it has initiated a Phase II clinical trial for LCP-Tacro, an     
immunosuppressant to prevent organ rejection in liver transplant recipients. The
clinical trial is expected to enroll up to 50 patients in up to 12 centers      
throughout the U.S. The Company expects to report clinical trial results in the 
first half of 2008 (1H08).                                                      

“We are excited to participate in the first clinical trial of LCP-Tacro in liver
transplant patients,” said Kenneth Washburn, MD, Professor of Surgery, Head of  
Liver Transplantation at the University of Texas Health Science Center at San   
Antonio.  “It's important that transplant patients and physicians have reliable 
options for the management of immunosuppression and we believe LCP-Tacro may    
make a real difference in patients' lives.”                                     

The Phase II clinical trial is a three sequence, open-label, multi-center,      
prospective, conversion study in stable liver transplant patients to assess and 
compare the pharmacokinetics (Cmax, C24, and AUC), and safety of LCP-Tacro      
(tacrolimus) tablets once-a-day versus Prograf® (tacrolimus) capsules           
twice-a-day.                                                                    

At the conclusion of the clinical trial each eligible patient will be given the 
opportunity to rollover to, and participate in, a 52-week open-label extension  
study in which they will receive LCP-Tacro.                                     

About LCP-Tacro & Tacrolimus                                                    
Tacrolimus is a leading immunosuppressive medication to prevent rejection after 
organ transplantation. LCP-Tacro is being developed as a once-daily tablet      
version of tacrolimus, with improved bioavailability and reduced variability in 
absorption when compared to Astellas' twice daily version of tacrolimus (Prograf
worldwide) and its prolonged-release version of tacrolimus (Advagraf in Europe).
Clinical trials have demonstrated that LCP-Tacro has a superior bioavailability 
and PK profile and is expected to provide significant improvements for patients 
currently on Prograf.                                                           

Transplant patients need to maintain a minimum level of tacrolimus in the blood 
to prevent organ rejection, but too high levels increase the risk of serious    
side effects such as kidney damage or hypertension. Therefore, tacrolimus levels
need to be managed carefully and transplant patients typically are obliged to   
make frequent visits to the hospital for monitoring and dose adjustments for    
months after receiving a new organ. Management of tacrolimus levels is          
complicated by the low bioavailability of Prograf, its variable absorption and  
interaction with food and other drugs. The current market size for              
immunosuppressants used in transplantation in the seven major markets (US,      
Japan, France, Germany, Italy, Spain and UK) is approximately $3.3B and growing 
by approximately 5-10% per year.                                                

About LifeCycle Pharma A/S (“LCP”)                                              
LCP is an emerging specialty pharmaceuticals company that, through innovative   
technologies, is able to rapidly develop a portfolio of differentiated products 
to meet the unique needs of key therapeutic markets and patient populations.    
This includes products for immunosuppression, specifically organ                
transplantation, and to combat certain cardiovascular diseases.  By using its   
unique and patented delivery technology, MeltDose®, LCP is able to develop drugs
with enhanced absorption and thereby increased bioavailability. Currently, the  
Company has a diversified near- and medium-term pipeline, including a product   
ready for US commercialization, five product candidates in clinical trials and  
three in preclinical stages of development. LCP is listed on the OMX Nordic     
Exchange under the trading symbol (OMX: LCP). For further information, please   
visit www.lcpharma.com.                                                         

Contact:                                                                        
Michael Wolff Jensen                                                            
EVP and CFO                                                                     
+45 4074-6244; MWJ@lcpharma.com                                                 

Francesca M. DeMartino	                                                         
Director, Investor Relations & Corporate Communications                         
(917) 747-4938; FDM@lcpharma.com                                                
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