NeuroSearch has issued 300,000 new shares in a directed offering subscribed for by institutional investors to finance a milestone payment related to the initiation of a Phase III study

Announcement                                                                    


NeuroSearch has issued 300,000 new shares in a directed offering subscribed for 
by institutional investors to finance a milestone payment related to the        
initiation of a Phase III study with ACR16 in Huntington's disease              

NeuroSearch hereby announces that today 300,000 new shares of DKK 20 nominal    
value each, corresponding to a total nominal capital increase of DKK 6,000,000, 
have been registered with the Danish Commerce and Companies Agency. As announced
on 21 May 2008, the new shares have been subscribed for by, and now issued to,  
institutional investors in Denmark and abroad at a price of DKK 280 per share of
DKK 20 nominal value each. The net proceeds from the directed offering amount to
approx. DKK 81 million, which will be used to finance a milestone payment to the
sellers of Carlsson Research AB relating to the initiation of a pivotal clinical
Phase III study with ACR16 for the treatment of Huntington's disease.           

Following registration of the new shares, NeuroSearch's share capital amounts to
DKK 314,834,640 (15,741,732 shares of DKK 20 nominal value each).               

The new shares will be admitted to trading and official listing on OMX Nordic   
Exchange Copenhagen A/S under the ISIN of NeuroSearch's existing shares (ISIN   
DK0010224666) on 27 May 2008.                                                   


Thomas Hofman-Bang                                                              
Chairman of the Board                                                           



Contact persons:                                                                
Flemming Pedersen, CEO, telephone: +45 4460 8214 or +45 2148 0118               
Hanne Leth Hillman, Vice President, Director of Investor Relations & Corporate  
Communications, telephone: +45 4017 5103                                        


This announcement contains certain statements that are forward-looking,         
including statements with respect to the development of the company's drug      
pipeline, its planned use of proceeds and its forecast for 2008. Such           
forward-looking statements are not guarantees of future performance and involve 
risks and uncertainties, and actual results may differ materially from those in 
the forward-looking statements as a result of various factors. Readers are      
cautioned not to place undue reliance on those forward-looking statements, which
speak only as of the date hereof.                                               


NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the OMX
Nordic Exchange Copenhagen A/S. The core business covers the development of     
novel drugs, based on a broad and well-established drug discovery platform      
focusing on ion channels and CNS disorders. A substantial part                  
of NeuroSearch's activities are partner financed through a broad alliance with  
GlaxoSmithKline (GSK) and collaborations with among others Abbott and Astellas. 
The drug pipeline comprises 13 clinical (Phase I-III) development programmes:   
ACR16 in Huntington's disease (Phase III), tesofensine in obesity (Phase III in 
preparation), NS2359 in depression (Phase II) and ADHD (Phase II) in partnership
with GSK, ABT-894 in ADHD (Phase II) and pain (Phase II) in partnership with    
Abbott, ACR16 in schizophrenia (Phase I) in partnership with Astellas, ACR325 in
bipolar disorder (Phase I), ABT-107 as well as ABT-560 for the treatment of     
various CNS disorders - both (Phase I) in collaboration with Abbott, NSD-644 in 
pain (Phase I) in partnership with GSK, ACR343 in Parkinson's disease (Phase I) 
and NSD-788 in anxiety/depression (Phase I). In addition, NeuroSearch has a     
broad portfolio of preclinical drug candidates and holds equity interests in    
several biotech companies.                                                      

                                                                                
This document does not constitute an offer to sell or the solicitation of an    
offer to buy the securities of NeuroSearch A/S (the “Securities”) in Australia, 
Canada, Japan or the United States, or in any other jurisdiction. The Securities
may not be offered or sold in the United States absent registration or an       
exemption from registration under the U.S. Securities Act of 1933, as amended.  
The issuer of the Securities has not registered, and does not intend to         
register, any portion of the offer in the United States, and does not intend to 
conduct a public offering of Securities in the United States.                   

This document is directed at and for distribution only to persons who (i) are   
outside of the United Kingdom, (ii)  have professional experience in matters    
relating to investments and fall within Article 19(5) ("investment              
professionals") of the Financial Services and Markets Act 2000 (Financial       
Promotion) Order 2005 (as amended, the “Financial Promotion Order”), or (iii)   
are persons falling within Article 49(2)(a) to (d) (“high net worth companies,  
unincorporated associations etc”) of the Financial Promotion Order,  (all such  
persons mentioned in (i), (ii), and (iii) together being referred to as         
“Relevant Persons”). The Securities are directed only at Relevant Persons and   
any investment or investment activity to which this document relates is         
available only to Relevant Persons and will be engaged in only with Relevant    
Persons.