Combination of Pharmexa and Affitech approved by more than 99.1% of the shareholders in Affitech

Following its announcement on 3 March 2009 of the proposed merger of Pharmexa
and Affitech , Pharmexa announces today that it has received confirmation of
the approval of the transaction from more than 99.1 % of the shareholders in
Affitech. In accordance with the conditional merger agreement, this is in
excess of the 98.5% approval required for the transaction to proceed. 

Simultaneously, certain of Affitech's shareholders have undertaken to invest a
minimum of NOK 32.5 million in the enlarged company post-transaction. This
additional investment will be in the form of a subscription for new shares as
part of and on the same terms as other investors participating in the planned
equity financing of the newly created Affitech A/S expected to be carried out
in the second or third quarter of 2009. 

As a result of the approvals received from Affitech shareholders, Pharmexa will
convene an extraordinary general meeting to approve a resolution for the
acquisition of Affitech and the related proposals set forth in the announcement
of 3 March 2009. The extraordinary general meeting is intended to be held on 15
April and a formal call for this general assembly including further details
will be announced as soon as possible. This meeting is in addition to
Pharmexa's already planned ordinary general meeting on 28 April 2009. 



Hørsholm, March 27, 2009



Achim Kaufhold
Chief Executive Officer



Additional information:
Claude Mikkelsen, Senior Vice President, Finance & Investor Relations, tel +45
4516 2525 or +45 4060 2558 
Achim Kaufhold, Chief Executive Officer, tel +45 4516 2525