NeuroSearch issues new shares in connection with the exercise of warrants

Copenhagen, 22 March 2010 - Today, NeuroSearch (NEUR) increased its share
capital by DKK 423,640 nominal value equivalent to the issue of 21,182 new
shares of DKK 20 nominal value each as a consequence of the exercise of
warrants granted to the Board of Directors, the Executive Management and other
employees in 2005 under the company's warrant programme. The number of
outstanding warrants from 2005 is now 9,083, but these shares will not be
subscribed since the last exercise period on the programme expired on 19 March
2010. 

The proceeds to NeuroSearch from the capital increase total DKK 3.3 million.
Pursuant to the warrant programme, the new shares are subscribed without
pre-emptive rights for the company's existing shareholders or others and at a
subscription price of DKK 156.04 per share of DKK 20 nominal value each. The
new shares carry the right to dividend as of the subscription date and will be
listed on the NASDAQ OMX Copenhagen A/S after registration with the Danish
Commerce and Companies Agency. 

Following the capital increase, the share capital of NeuroSearch A/S amounts to
DKK 491,078,940 nominal value, equivalent to 24,553,947 shares of DKK 20
nominal value each. The total warrant programme amounts to 6.7% of the share
capital. 


Flemming Pedersen
CEO


Contacts persons:
Flemming Pedersen, CEO, tel: +45 4460 8214 or +45 2148 0118
Hanne Leth Hillman, Vice President, Director of Investor & Capital Market
Relations, tel: +45 4460 8212 or +45 4017 5103 


About NeuroSearch - Company profile
NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on NASDAQ
OMX Copenhagen A/S. The core business of the company covers the development of
novel pharmaceutical agents, based on a broad and well-established drug
discovery platform, focusing on ion channels and central nervous system (CNS)
disorders. A substantial share of the activities is partner financed through
strategic alliances with Janssen Pharmaceutica, Eli Lilly and Company and
GlaxoSmithKline, and licence collaboration with Abbott. The drug pipeline
comprises eight clinical (Phase I-III) development programmes: Huntexil®
(pridopidine) for Huntington's disease (Phase III), tesofensine for obesity
(ready for Phase III), ABT-894 for ADHD (Phase II) in partnership with Abbott,
ACR343 for schizophrenia (ready for Phase II), ACR325 to treat dyskinesias in
Parkinson's disease (Phase Ib), ABT-560 for the treatment of cognitive
dysfunctions (Phase I) in collaboration with Abbott, NSD-788 for
anxiety/depression (Phase I) and NSD-721 for social anxiety disorder (Phase I)
in partnership with GSK. In addition, NeuroSearch has a broad portfolio of
preclinical drug candidates and holds equity interests in several biotech
companies.