• The 2009 guidance for the underlying continued and discontinued businesses is
unchanged
• Exiqon Life Sciences is expected to be cash flow positive in 2010
• Long term financial goal of reaching profitability by 2011 with current
capital is maintained.

Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced that it has started a
process of divesting Oncotech, Inc., its certified CLIA laboratory operation
in Tustin, California. As a result, Exiqon will recognize a non-cash loss on
divestment and impairment of goodwill of approximately DKK 205 million and
revises its full-year 2009 guidance accordingly. Exiqon's diagnostic ambitions
and long-term financial objective of reaching profitability by 2011 with
current capital are unchanged.

The objective of the acquisition of Oncotech, Inc., which was announced in
November 2007, was to accelerate the establishing of Exiqon's diagnostic
business and to set up a commercial platform for the launch of Exiqon's
miRNA-based diagnostic products. Since the acquisition, Exiqon has successfully
strengthened its product portfolio for in vitro diagnostics by adding new
molecular tests, including KRAS and BRAF, and other tools to help physicians
improve cancer treatment selection.

Exiqon has now decided to consolidate its ongoing development of diagnostic
products based on miRNA at the company's facilities in Denmark in order to gain
operational and infrastructural efficiencies and to free up human and financial
resources.

“This decision will help us focus on our core competencies in the area of miRNA
and drive operational synergies between our two business areas, Diagnostics and
Life Sciences”, said Lars Kongsbak, President and CEO.”

Exiqon will continue developing its programs for colon cancer recurrence,
identification of cancer of unknown primary and early detection of colon cancer
in serum. Exiqon has secured in excess of DKK 40 million in grants for its
pipeline of diagnostic products.

“Within the Life Science area, we are seeing a robust uptake of the recently
introduced product for sensitive and quantitative analysis of miRNA expression,
for example in blood samples. By consolidating operations, we can free up the
necessary financial resources for a continued focus on our diagnostic product
development efforts,” said Lars Kongsbak.

As a consequence of the decision to divest Oncotech, Inc., Exiqon will seek
partners to co-develop and commercialize its miRNA-based diagnostic products.

Revised guidance for 2009:

Following the decision to divest Oncotech, Inc., the related assets and
liabilities will be classified as held for sale and will therefore be presented
as a discontinued operation in the annual report 2009 unless divested before
yearend. Similarly the result of the activities and the loss on divestment will
be shown as a single amount in the income statement.

The Board of Directors recognizes time as an important factor in the divestment
of Oncotech, Inc., and has therefore cautiously estimated the fair value of
Oncotech, Inc., less sales related costs of approximately DKK 7 million, to be
DKK 0.00, which will result in a non-cash loss on divestment of approximately
DKK 135 million in the fourth quarter of 2009. The estimated fair value less
costs to sell and the resulting loss on divestment is based on the assumption
that no specific estimates of a sales price can be made under the current
market conditions.

Impaired goodwill in the amount of DKK 70 million related to the continued
operations will be recognized as non-cash loss.

The guidance for the underlying continued and discontinued businesses are
unchanged.

We anticipate the guidance after reflecting the impact of the decision to
divest Oncotech, Inc. including the estimated loss on divestment and impairment
of goodwill on continued operations to be as follows:

BEFORE NEW
USD/DKK 5.25 USD/DKK 5.25
Exiqon Group revenue DKK 130 mill DKK 80 mill
Estimated non-cash impairment charge DKK (70 mill)
Etimated non-cash loss on divestment DKK(135 mill)
Net loss inclusive discontinued operation DKK(130 mill) DKK(335 mill)

Long-term objectives unchanged:

The annualized impact of the divestment is estimated to result in savings of
approximately DKK 60 million compared to 2009, including non-cash items of
approximately DKK 12 million in 2010.

Following a successful restructuring of Exiqon Life Sciences in the third
quarter 2009, Exiqon Life Sciences is expected to be cash flow positive in
2010.

Exiqon therefore maintains its long term financial goal of reaching
profitability by 2011 with current capital.

Additional information:
Lars Kongsbak, CEO, phone +45 4566 0888 (cell: +45 4090 2101)
Hans Henrik Chrois Christensen, CFO, phone +45 4566 0888 (cell: +45 4090 2131)

Read the full announcement in the attached PDF or at
www.exiqon.com/investor/portal.

announcement_21_2009_final.pdf