Report of transactions with shares and related securities of NeuroSearch by persons discharging managerial responsibilities and persons/companies closely associated with these

Insiders' dealing                                                               


Report of transactions with shares and related securities of NeuroSearch by     
persons discharging managerial responsibilities and persons/companies closely   
associated with these                                                           

Pursuant to section 28a of the Danish Act on Securities Trading, NeuroSearch A/S
(NEUR.CO) shall make public, transactions with shares and related securities of 
NeuroSearch A/S by persons discharging managerial responsibilities and          
persons/companies closely associated with these.                                


Name: Nicholas Waters                                                           
Reason: CEO, NeuroSearch Sweden AB                                              
Issuer and ID code / ISIN: NeuroSearch A/S / DK0010224666                       
Transaction: Sale of shares                                                     
Trading date: 27 August 2008                                                    
Market: The OMX Nordic Exchange Copenhagen A/S                                  
Number (pcs): 6,000                                                             
Market value (DKK): 1,595,700                                                   


Contact person:                                                                 
Anita Milland, Vice President, CFO, telephone: +45 2016 3432                    



NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the OMX
Nordic Exchange Copenhagen A/S. The company's 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 share of its 
activities is partner financed through a broad alliance with GlaxoSmithKline    
(GSK) and collaborations with, among others, Abbott and Astellas. NeuroSearch's 
drug pipeline comprises 14 clinical (Phase I-III) development programmes: ACR16 
for Huntington's disease (Phase III), tesofensine for obesity and in Type 2     
diabetes (Phase III in preparation), NS2359 for depression (Phase II) and ADHD  
(Phase II) in partnership with GSK, ABT-894 for ADHD (Phase II) and pain (Phase 
II) in partnership with Abbott, ACR16 for schizophrenia (Phase I) in partnership
with Astellas, ACR325 for Parkinson's disease (Phase II in preparation) and     
bipolar disorder (Phase II in preparation), ABT-107 and ABT-560 for the         
treatment of various CNS disorders - both (Phase I) in collaboration with       
Abbott, NSD-644 for pain (Phase I) in partnership with GSK, ACR343 for          
Parkinson's disease (Phase I) and NSD-788 for anxiety/depression (Phase I). In  
addition, NeuroSearch has a broad portfolio of preclinical drug candidates and  
holds equity interests in several biotech companies.