NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICAThe Supervisory Board of Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) has today
resolved to launch a directed issue of up to 1,666,777 new shares of DKK 1.00
nominal value at market price through an accelerated book-building process.

The offering represents 5% of the Company's currently registered share capital
of DKK 33,335,249. Gross proceeds are expected to be approximately DKK 20
million.

The offering of new shares will be made to existing investors in a directed
issue without pre-emption rights to Exiqon's existing shareholders.

The book building process will open immediately and the result of the offering,
offer price and allocation are expected to be announced as soon as practicable
thereafter.

If the offering is oversubscribed, an individual allocation of shares will be
made.

The decision to launch an offering of up to 1,666,777 new shares of a nominal
value of DKK 1.00 each in a directed issue is made pursuant to articles 3b of
Exiqon's articles of association by which the Supervisory Board is authorized
to make share capital increases.

Assuming subscription of all the new shares, the nominal share capital of
Exiqon will amount to DKK 35,002,026 divided into shares of DKK 1 each.

The new shares will be negotiable instruments made out in the name of the
holder. There will be no restrictions in the transferability of the shares. The
new shares will in every respect carry the same rights as the existing shares,
including the right to receive dividends, if any, for the financial year 2011
and other rights in the Company as from the time of registration of the capital
increase with the Danish Commerce and Companies Agency which is expected to
take place on 30 June 2011.

Use of proceeds

The proceeds will be used to strengthen the company's capital resources. The
financial outlook for 2011 remains unchanged: Exiqon expects total revenue of
DKK 105-115 million and an EBITDA of approximately DKK 0.00 with a variation of
+/- DKK 5 million.

Admission for trading and official listing

The new shares will be issued under the temporary ISIN code DK0060338226. No
application for trading and official listing has been filed for the temporary
ISIN code, and the temporary ISIN code will only be registered with VP
Securities A/S. The temporary ISIN code will be merged with the existing ISIN
code for the existing shares, DK0060077758, as soon as possible following
registration of the share capital increase with the Danish Commerce and
Companies Agency, expectedly on 30 June 2011. The new shares will expectedly be
requested admitted for trading on 4 July 2011 with expected first trading day
on 5 July 2011.

Additional information

Lars Kongsbak, President and CEO, tel. +45 4566 0888 (cell: +45 4090 2101)

Hans Henrik Chrois Christensen, CFO, tel. +45 4566 0888 (cell: +45 4090 2131)

Announcement_17_2011_CapitalIncrease.pdf