ACTION PHARMA’S CEO AWARDED THE NOVO NORDISK PRIZE 2009

Holte, Denmark, February 12, 2009

Action Pharma A/S, a Danish biotech company, is very pleased to announce that Søren Nielsen, its CEO, has been awarded the Novo Nordisk Prize 2009.

The Novo Nordisk Prize was founded by the Novo Nordisk Foundation and is awarded in the Foundation's name and from the Foundation's funds. The prize is awarded - without application - in recognition of unique medical research or other research contributions that are of benefit to medical science. The prize is awarded for a predominantly Danish contribution.

The prize is awarded annually and comprises a personal award as well as an allowance for research purposes within the prize recipient's area of expertise.

”With his impressive scientific results Søren Nielsen is placed in the international elite with a very comprehensive scientific production published in high impact research journals,” says Professor Jan Fahrenkrug, chairman of the Prize committee at the Novo Nordisk Foundation.

“I am deeply honored and very proud of this prestigious award” says Søren Nielsen, CEO. “It gives major attention to our research achievements and to Action Pharma A/S which was founded in 2000 based on part of this research.”

The prize was awarded based on Søren Nielsen’s and his colleagues’ discoveries on the fundamental role of cell membrane water channels (aquaporins) in water balance regulation and that dysregulation of aquaporins play pivotal roles in water balance disorders including acquired and inherited kidney diseases, heart failure and brain edema. This work was performed in close collaboration with Professor Peter Agre, Johns Hopkins University Medical Shool, who received the 2003 Nobel Prize in Chemistry for the discovery of aquaporin water channels.

“In our parallel studies we identified very potent effects of melanocortins to protect against kidney dysfunction and dysregulation of aquaporins and sodium transporters in models of kidney ischemia and reperfusion organ damage” says Søren Nielsen, CEO. “This was subsequently extended in many additional disease models such as acute myocardial infarction, kidney injury in major surgery, intestinal ischemia, stroke and others. All was achieved in close collaboration with co-founders of Action Pharma Professor Jørgen Frøkiær and Thomas Jonassen, CSO of Action Pharma.”

Action Pharma A/S has an advanced drug candidate pipeline based on in house development, licensing agreements and acquisitions. Action Pharma A/S has two drug candidates in clinical development. AP214 is in a phase-II clinical trial in the USA for the protection of kidney injury associated with major cardiac surgery. AP1030 is in a phase-Ib clinical trial and is targeted for the treatment of type-II diabetes. In addition Action Pharma has two drug candidates in late preclinical development and has several discovery projects. The drug candidates are all first in class and have unique mode of action through melanocortin receptors, which are a new class of pharmaceutical targets. The commercial strategy is partnering after early clinical proof of concept.

For further information, please contact:

Søren Nielsen
CEO, Action Pharma A/S
Dronninggaards Allé 136
DK-2840 Holte, Denmark
sn@actionpharma.com
Phone: +45 23244533