Reported figures are for the full reporting period unless otherwise stated.
Figures for the comparable reporting period last year is stated in parenthesis
after realized figures.

Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced results for the first
six months of 2010 ending 30 June 2010. Revenue for the first six months
increased 27% to a record DKK 44.8 million. Revenue grew 26% over the same
period in the previous year when excluding the impact from currency
translation. Operating expenses decreased 27% to DKK 44.6 million. Earnings
per share (EPS) grew 54% to DKK -0.71 in the first six months of 2010, versus
DKK -1.54 in the same period in 2009 (continued operations).

Highlights:

• Revenue increased 27% to DKK 44.8 million (DKK 35.4 million). The organic
growth in life science research product sales (including Pharma Services) was
58% in the first six months of 2010, when excluding OEM sales and reagent sales
associated with license agreements. In the second quarter of 2010, revenue
increased 24% to DKK 24.1 million (DKK 19.4 million). The organic growth in
life science research product sales (including Pharma Services) was 75% in the
second quarter of 2010, when excluding OEM sales and reagent sales associated
with license agreements.

• Operating expenses decreased 27% to DKK 44.6 million (DKK 60.8 million) as a
result of the restructuring of Exiqon Life Sciences that was undertaken in 2009
to improve the company's cash flow. In the second quarter of 2010, total
operating expenses decreased 23% to DKK 22.6 million compared to DKK 29.5
million in the same period last year.

• Gross profit improved 86% to DKK 23.5 million (DKK 12.6 million).

• EBIT improved 56% to DKK -21.1 million (DKK -48.1 million).

• Net loss from continued operations was DKK 21.4 million (DKK 46.8 million).
EPS amounted to DKK - 0.71 (DKK -1.54).

• On 4 June 2010, Exiqon announced the closing down of operations at Oncotech,
Inc. after it was concluded that a divestment could not be achieved.

• On 21 June 2010, Exiqon announced that it had granted a non-exclusive license
to Becton, Dickinson and Company to use Exiqon's proprietary locked nucleic
acids (LNA™) technology in defined products for infectious disease diagnostics.

• On 29 June 2010, Exiqon announced the registration of a capital increase of
3,030,000 new shares with a nominal value of DKK 1 each following which the
nominal value of the share capital of Exiqon A/S amounts to DKK 33,335,249
divided into 33,335,249 shares with a nominal value of DKK 1 each.

CEO Lars Kongsbak says: “I am very pleased with the continued strong organic
growth and overall reduced costs. With the recent financing round in place, a
competitive product offering and a strong pipeline, we remain on track for
profitability by 2011.”

See the full interim report in the attached PDF or at www.exiqon.com/portal.

Additional information:
Lars Kongsbak, CEO, phone +45 4566 0888 (cell: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO, phone +45 4566 0888 (cell: +45 4090 2131)

announcement_16_2010_h1_final.pdf