Announcement
16.12.2011

In September, NeuroSearch A/S (NEUR) announced a focusing of the company's
resources including a discontinuation of the research division NsDiscovery.
Leading employees from NsDiscovery have founded the company Aniona ApS with the
aim of establishing the basis for a continuation of research and development
activities from NsDiscovery within a new company and with new investors.
NeuroSearch endorses this initiative and participates in the form of an
agreement which allows the sale of selected intellectual rights to Aniona
provided that Aniona establishes the necessary external financing. This
agreement denotes that NeuroSearch obtains ownership in Aniona as well as
certain royalty payments, which will depend on the transferred rights.
NeuroSearch shareholders will thus have the possibility of a future flow of
earnings relating to the transferred rights.

Aniona will be under the management of Jørgen Drejer, who is a co-founder of
NeuroSearch. In addition the following external persons are associated with the
management of Aniona:

Claus Bræstrup Former CEO of H. Lundbeck A/S
Anker Lundemose Former director of the American company OSI Pharmaceuticals
Jørgen Buus Lassen Co-founder and former CEO of NeuroSearch A/S

Aniona will exploit and focus on the knowhow and technology platform generated
through the research at NeuroSearch with the purpose of developing treatments
for central nervous system diseases.

Financial expectations for 2011
NeuroSearch maintains its expectations to the operating result which was
announced in the company's Q3 report.

CEO of NeuroSearch Patrik Dahlen states as follows in connection with the
founding of Aniona:
"We are pleased to see the optimism among the scientists who will represent the
core of Aniona. This enthusiasm will form the basis of the continuation of the
ion channel research which has been part of NeuroSearch for all the years. We
would be very pleased to see our employees continue their work under new
ownership in Aniona, and we will do all we can to help at this stage with the
founding of a sustainable Aniona. We wish Aniona the best of luck with the
raising of the necessary financing.”

Jørgen Drejer, CEO of Aniona, comments:
"For more than 20 years, the research group, which was established in
NeuroSearch, has delivered frontline drug concepts and drug candidates in
partnership with leading pharmaceutical companies, latest Lilly and Janssen.
Historically, these companies have financed a major part of the research in
NeuroSearch, and in the future Aniona wishes to build on this business model
and the unique CNS and ion channel expertise which the founders of Aniona
represent."

Patrik Dahlen
CEO

Contact person
René Schneider, EVP & CFO, telephone: +45 4460 8700

About NeuroSearch
NeuroSearch A/S (NEUR) is a European-based biopharmaceutical company listed on
NASDAQ OMX Copenhagen A/S and specialising in central nervous system (CNS)
disorders. The vision is to develop NeuroSearch into a profitable specialty
pharmaceutical company. The strategy is primarily to complete the development
and subsequently to market Huntexil®, a unique drug in clinical Phase III for
the treatment of the motor symptoms of Huntington’s disease.
Among discontinuing activities, NeuroSearch also has a portfolio of assets for
outlicensing or divestment. This includes tesofensine which has shown
outstanding efficacy in the treatment of obesity, the Integrative Screening
Process (ISP), which is a proprietary systems biology approach, as well as a
broad range of ion channel technologies and patented compounds identified as
ion channel modulators.

About Aniona
Aniona ApS is a Danish pharmaceutical company focusing on the treatment of
diseases of the central nervous system. The company is based on more than 20
years of research experience from NeuroSearch A/S and specifically the unique
competencies which have been developed within ion channel modulation.

Fonds.30-11 - Aniona spinout - uk.pdf