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Algeta listed on the Oslo Stock Exchange


Oslo, 27 March 2007 – Algeta ASA, the Norwegian cancer therapeutics company, is very pleased to announce that it has completed its listing on the Oslo Stock Exchange and that its shares begin trading today (ticker: ALGETA).

The Company’s listing in Oslo takes place in connection with its successful initial public offering, which raised gross proceeds of approximately NOK 250 million ($41 million) for Algeta. The IPO was more than two times subscribed at the offer price of NOK47, valuing the company at NOK 773.8 million ($127.1 million) post-IPO.

Thomas Ramdahl, Algeta’s President and CEO, commented: “We are delighted that our IPO has been such a success. We strongly believe that novel therapeutics based on alpha emitters, including our lead product Alpharadin, have significant medical as well as commercial potential. The interest the Company has had based on this potential from leading international investors during the IPO marketing process has greatly encouraged us as we begin life as a listed company.”


###

For further information, please contact
Dr Thomas Ramdahl, CEO
Geir Christian Melen, CFO
+47 23 00 79 90 / +47 913 91 458 (mob)
+47 23 00 79 84 / +47 913 02 965 (mob)
post@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 unique characteristics of alpha emitters, such as high potency and short range, Algeta is developing new therapeutic candidates and technologies targeting metastatic and disseminated tumors and promising unrivalled potency without unacceptable toxicities.

Algeta's lead product candidate, Alpharadin, has completed one Phase II trial and is currently in two further Phase II clinical trials as a potential new treatment of hormone refractory prostate cancer. Based on results to date, it is expected to progress to clinical Phase III trials. Alpharadin is a novel bone-seeking radiopharmaceutical based on the alpha particle emitter radium-223 and may potentially target skeletal metastases from multiple cancer types.

Algeta is also developing other technologies for delivering alpha emitters including microparticles, liposomes and its receptor targeting technology, which is designed to enhance the potency of therapeutic antibodies and other tumor-targeting molecules by linking them to the alpha particle emitter thorium-227.

The Company is headquartered in Oslo, Norway, and was founded in 1997 as Anticancer Therapeutic Inventions.

Alpharadin and Algeta are trademarks of Algeta ASA.


Important Notice
This press release is not for distribution to United States, Canada or Japan news services or for dissemination in the same countries or elsewhere where such dissemination is not appropriate. This news release is not and under no circumstances is to be construed as a solicitation, offer, or recommendation, to buy or sell securities issued by Algeta. This press release may not be relied upon by any person to whom it was not intended to be provided. These materials are not an offer of securities for sale in the United States, Canada or Japan. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Algeta ASA has not registered, and does not intend to register, any portion of the offering in the United States.

This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. There are a<


Publisher Contact Information:

Algeta ASA
+47 23 00 79 84
-

Company profile of Algeta ASA
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