NeuroSearch A/S completes preemptive rights issue

Not for release, publication or distribution in Australia, Canada, Japan or the
United States. This announcement 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. 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 Offering in the United States, and does
not intend to conduct a public offering of the Securities in the United States. 


Announcement


NeuroSearch A/S completes preemptive rights issue 

The rights issue by NeuroSearch A/S (“NeuroSearch”) with preemptive rights for
the company's existing shareholders was completed on 23 November 2007. The
preemptive rights issue resulted in a subscription percentage of 99.6% with
2,754,579 new offered shares, with a nominal value of DKK 20 each, subscribed
out of the maximum number of new offered shares of 2,765,593. A small amount of
the new offered shares (0.4%) was not subscribed primarily due to technical
aspects related to the structure of the offering. The new offered shares were
subscribed at a price of DKK 280 per share, resulting in gross proceeds from
the offering of DKK 771.3 million (EUR 103.5 million) to NeuroSearch,
corresponding to net proceeds of approximately DKK 728.7 million (EUR 97.7
million) after deduction of costs related to the offering. 

Flemming Pedersen, CEO, comments:
”It is highly satisfying that we have succeeded in completing a fully
subscribed share issue with proceeds of almost three quarters of a billion DKK,
and I am very pleased by the considerable support we have had from our
shareholders. We have completed one of the largest capital increases for a
European biotech company so far, and the result underlines NeuroSearch's
leading position in its field including a mature and broad product pipeline
with a substantial earnings potential. Now we have a unique opportunity to
further develop our pipeline and bring our products all the way to the market
and the patients, resulting in continued value creation.” 

The new shares carry the same rights as NeuroSearch's existing shares and are
eligible for dividends from the date of the registration of the capital
increase with the Danish Commerce and Companies Agency, which took place today. 

Following registration of the 2,754,579 new shares with a nominal value of DKK
20 each, the nominal value of NeuroSearch's share capital is DKK 303,995,000
corresponding to 15,199,750 shares with a nominal value of DKK 20 each. 

The new shares will be listed on the OMX Nordic Exchange Copenhagen A/S on
Wednesday, 28 November 2007 under the temporary securities code DK0060098325.
The temporary securities code is expected to be merged with the permanent
securities code for the existing shares (DK0010224666) on Thursday, 29 November
2007. 


Asger Aamund 
Chairman of the Board 


Contacts: 

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

NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on the
OMX Nordic Exchange Copenhagen A/S. Our 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 the Company's
activities are partner financed through a broad alliance with GlaxoSmithKline
(GSK) and collaborations with among others Abbott and Astellas. The drug
pipeline comprises 11 clinical (Phase I-III) development programmes: ACR16 in
Huntington's disease (Phase III in preparation), tesofensine in obesity (Phase
III in preparation), NS2359 in depression (Phase II) and ADHD (Phase II) in
partnership with GSK, NS1209 in epilepsy and pain (Phase II), 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 and Parkinson's disease (Phase I) and ABT-107 as well as ABT-560 for
the treatment of various CNS diseases - both (Phase I) in collaboration with
Abbott. In addition, NeuroSearch has a broad portfolio of preclinical drug
candidates and holds equity interests in several biotech companies.