Copenhagen, 24 August 2010 - Today, NeuroSearch A/S (NEUR), a leading CNS focused and European based biopharmaceutical company announced the appointment of Patrik Dahlen as new CEO of the company. With effect from 15 September 2010, Patrik Dahlen will replace CEO Flemming Pedersen, who resigns to take up a new position in another company. Patrik Dahlen (born 1962) brings more than 17 years of broad-based managerial experience from the international life science industry, covering drug discovery, product development, production, marketing and sales. His former career includes nearly eight years with PerkinElmer (NYSE: PKI), where he built the company's global Life Sciences unit and held positions as President and Senior Vice President with basis in the US. Further, Patrik Dahlen has served more than three years as the CEO of Dako, a world-leading cancer diagnostics company with 1,000 employees and over DKK 1.5 billion in revenues, where he in his first two years streamlined the company and repositioned it for cancer diagnostics leadership. Patrik Dahlen holds a PhD in Biochemistry and he joins NeuroSearch from a current position as CEO in Chempaq A/S. See attached CV resume for additional information on Patrik Dahlen's background and competences. Thomas Hofman-Bang, Chairman of the Board in NeuroSearch, commented: "I am very pleased to be able to announce the appointment of Patrik Dahlen as the new CEO of NeuroSearch. Patrik Dahlen has ample experience in the effective management of commercially driven organisations combined with a comprehensive understanding of R&D based business entities. I am convinced that he holds the exact right competences to ensure the continued successful development of NeuroSearch towards commercialisation and profitability." Patrik Dahlen, newly appointed CEO of NeuroSearch, commented; "I am excited about the opportunity to take part in the continued development of NeuroSearch with a view to building a long term profitable specialty pharma company. NeuroSearch stands today as a renowned R&D driven CNS drug company, with highly promising potential for further value creation. It is an exciting time to join NeuroSearch as Huntexil® is nearing the commercialisation phase and the company will need to start accelerating the development of sales and marketing competencies." Thomas Hofman-Bang Chairman of the Board Contact persons Thomas Hofman-Bang, Chairman of the Board, telephone; +45 4348 3202 Hanne Leth Hillman, Vice President, Director of IR & Corporate Communications, telephone; +45 4460 8212 or +45 4017 5103 About NeuroSearch - Company profile NeuroSearch A/S is a leading CNS focused and European based biopharmaceutical company listed on NASDAQ OMX Copenhagen A/S (NEUR). The company's core business is development of novel drugs to treat diseases of the central nervous system, and the pipeline comprises eight products in clinical development (Phase I-III). These include Huntexil® (pridopidine), a unique orphan drug in Phase III development for the treatment of Huntington's disease, and tesofensine ready for Phase III development as a novel treatment of obesity. NeuroSearch is founded on a well-established drug discovery platform in the field of ion channels and monoamine transporters, holding also a broad portfolio of preclinical drug candidates. The company has strategic drug discovery alliances with Janssen Pharmaceutica and Eli Lilly as well as a licence collaboration with Abbott. Further, NeuroSearch has equity interests in a number of private health care companies. ------------- Patrik Dahlen - CV resume Born: 1962 in Åbo, Finland Civil status: Married, five children (three from previous marriage). Residential in Denmark Nationality: Finnish To request high resolution pictures of Patrik Dahlen, send an e-mail to hsp@neurosearch.dk Primary professional achievements Patrik Dahlen has several years of international CEO experience and a broad managerial background in life sciences R&D and Operations, as well as Sales and Marketing. Patrik Dahlen is scientifically savvy and commercially astute, driven by bringing new and exciting products to the market. His professional achievements demonstrate that he can quickly leverage his understanding of a market and the competitive landscape to effectively advance and grow his own business. As CEO for Dako A/S, a world leading cancer diagnostics company with 1,000 employee's and revenues of over DKK 1.5 billion, Mr. Dahlen successfully implemented a focused strategy, leading to higher sales growth and markedly increased profitability. He instituted a new performance focused approach to leadership and attracted top talent to expand Dako's core competencies. Further, he led the company through the acquisition of a Norwegian instruments company. As the CEO for BioImage A/S, a venture cap backed biotech company, based in Medicon Valley, Denmark and focused on cell-based systems for drug development, Patrik Dahlen took the company through two rounds of financing - raising more than 30M euro's total and secured a number of licensing deals with among others Lexicon Genetics, Amersham Biosciences, Eli Lilly, BMS, and Altana. In PerkinElmer, Patrik Dahlen was appointed President for the company's Life Science entity which he built from a diverse, relatively unknown corporate unit to one of the leading drug discovery tools and genetic screening businesses with a world known brand name and reputation and sales around $500 million. As part of Patrik Dahlen's other achievements, he accelerated R&D with focus on the product portfolio, increased sales with up to 20% organic growth per year, and finally succeeded in managing an international business with six global sites. Professional carrier overview: 2009 - 2010 CEO, Chempaq,A/S (www.chempaq.com), Denmark 2005 - 2009 CEO, Dako A/S (www.dako.com), Denmark 2001 - 2005 CEO, BioImage A/S (www.bioimage.com), Denmark 1999 - 2001 President - PerkinElmer Life Sciences, USA Senior VP - PerkinElmer (NYSE: PKI, www.perkinelmer.com), USA 1999 - 1999 General Manager - EG&G Reticon, USA 1995 - 1999 Director of Diagnostics Division - EG&G Wallac, USA 1994 - 1995 Division Head for Diagnostics Systems Division - EG&G Wallac, Finland 1990 - 1994 Senior Researcher/Product line manager - Wallac OY, Finland 1988 - 1990 Project leader, DNA probes - Pharmacia Genetic Engineering, USA 1984 - 1988 Junior researcher/Senior researcher/Project leader - Wallac OY, Finland Educational background 1991 Ph.D. in Biochemistry, Turku University, Finland Thesis: Time-Resolved Fluorometry in DNA Hybridization Assays 1985 M.Sc. Biochemistry, Åbo Akademi, Finland