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Algeta applies for listing on the Oslo Stock Exchange


Oslo, Norway, February 1st, 2007 – Algeta ASA, the Norwegian therapeutics company, today announced its application for listing on the Oslo Stock Exchange (Oslo Børs). Algeta is taking this step to accelerate the late-stage clinical development of its lead product – Alpharadin – and to provide a strong platform for further growth.

Algeta develops novel and proprietary therapeutics and technologies based on alpha particle emitting radionuclides targeting a broad range of metastatic and disseminated tumors. By harnessing the unique characteristics of alpha emitters, such as high potency and short range, Algeta’s products offer the potential of unrivalled potency without unacceptable toxicities.

Algeta’s lead product based on this technology is Alpharadin, a product being developed as a new treatment for skeletal metastases in patients with late-stage, hormone refractory prostate cancer. Algeta believes Alpharadin will also have potential in treating skeletal metastases originating from other types of cancer, such as breast and lung. This indication represents a large and unmet medical need, with more than 300,000 patients worldwide per year developing skeletal metastases from cancer.

Alpharadin is expected to progress to pivotal Phase III clinical studies based on positive Phase II data, which show that Alpharadin delays the progress of prostate cancer and reduces the extent and effect of metastasis. Detailed results from the first of several Phase II studies to be completed will be presented at the ASCO Prostate Cancer Symposium, which will be held on 22-24 February 2007 in Orlando, Florida, USA.

In addition to Alpharadin, Algeta is actively developing a portfolio of proprietary projects to deliver alpha particle emitting radiotherapies to various other tumor types, including breast, ovarian and gynecological cancers. The most advanced of these, TH-1, has experimentally linked alpha emitters to tumor-targeting peptides and clinically validated antibodies to deliver a lethal radiotherapeutic dose specifically to the tumor.

Commenting on today’s announcement, Algeta’s CEO Thomas Ramdahl, said: “We believe our technology has tremendous potential for treating a wide range of cancers; alpha particle emitters, when targeted appropriately, are among the most potent sources for the lethal irradiation of tumor cells and metastases, causing minimal damage to normal tissues. With Alpharadin demonstrating good efficacy and safety in clinical trials, we are very excited about both the therapeutic and commercial potential of this product. This, in addition, to our advancing pipeline of novel alpha emitter delivery technologies, gives us great confidence that we can create a business with significant value and growth potential.”

Algeta’s Chairman, John Berriman, said: “We have decided to take the Company public both to provide better visibility for Algeta’s unique products and technology and to provide sufficient flexibility and strategic funding options for their future development. In particular, a key focus and value driver for Algeta is Alpharadin, which we aim to progress through the next crucial stages of clinical development towards the market where we believe it has the potential to be very successful.”

ABG Sundal Collier and DnB NOR Markets have been appointed as lead financial advisors and Terra Securities is co-lead manager.

###

For further information, please contact
Dr Thomas Ramdahl, CEO
+47 23 00 79 90
thomas.ramdahl@algeta.com


Geir Christian Melen, CFO
+47 23 00 79 84
geir.melen@algeta.com


Dr Mark Swallow / Helena Galilee
Citigate Dewe Rogerson +44 (0)207 638 9571
mark.swallow@citigatedr.co.uk


About Algeta
Algeta ASA is a Norwegian therapeutics company built on world-leading expertise in nuclear medicine and oncology and dedicated to the development of novel anticancer therapeutics based on alpha particle emitting radionuclides.

By harnessing the un


Publisher Contact Information:

Algeta ASA
+47 23 00 79 90
thomas.ramdahl@algeta.com

Company profile of Algeta ASA
Past press releases of Algeta ASA.

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