The entire interim report is included in the enclosed PDF document.

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Copenhagen, 26 August 2009 - Today, the Board of Directors of NeuroSearch
considered and approved the company's interim report for the period 1 January
to 30 June 2009.For this period, NeuroSearch reports a financial loss after tax
of DKK 178.0 million (1H 2008: a loss of DKK 185.9 million) and capital
resources totalling DKK 488.9 million at 30 June 2009 (DKK 716.3 million at 30
June 2008). In the period after 30 June 2009, the company has further increased
its capital resources with a total of DKK 305 million by income and financing
from commercial agreements and thus capital resources total approx. DKK 730
million as of 26 August 2009.

NeuroSearch retains its financial guidance for the full year 2009, expecting a
loss before financials and results from associates in the region of DKK 350
million.

Commercial agreements and capital resources
In the course of 2009, NeuroSearch has so far signed new collaboration
agreements with GlaxoSmithKline (GSK), Eli Lilly (Lilly) and latest Janssen
Pharmaceutica (Janssen). Each of the three agreements comprises specific
selected parts of NeuroSearch's innovative drug discovery platform related to
the treatment of diseases of the central nervous system (CNS) and in total
these agreements have ensured income and financing in the region of half a
billion DKK. Added to this may be important revenue potential in the form of
success based milestone payments and royalties related to products being
developed under the agreements. Thus, the company's aim of finding new
commercial partners for a considerable part of the drug discovery programmes
has been achieved. With the closing of the new collaboration agreements,
NeuroSearch has ensured sufficient capital resources until at least mid-2011.

The pipeline of drug candidates
In general, the development of NeuroSearch's pipeline of drug candidates has
been very satisfactory.

• HuntexilTM (pridopidine) - (Huntington's disease): The enrolment of patients
for the European Phase III study, MermaiHD, was completed in April 2009 with
expected reporting of results from the study by the turn of the year. Patient
enrolment in the North American HART study is progresses according to plan. In
general, the two clinical studies progress highly satisfactorily and HuntexilTM
is well-tolerated. A considerable number of the patients in MermaiHD choose to
continue treatment with HuntexilTM in a six month, open-label extension study.
In order to be able to meet requests from the patients and health care
professionals of continued treatment after the extension study, NeuroSearch has
decided to offer those patients who complete MermaiHD and the open-label
follow-up study continued treatment under a compassionate use programme. Such
treatment can be requested by each participating patient's treating physician
provided that permission is obtained from the local authorities. NeuroSearch is
investigating the possibility of being able to offer continued treatment under
a similar programme in the USA and Canada for the patients who complete the
HART study.

If data from the European Phase III study are supportive, NeuroSearch plans to
extend the offer for treatment with HuntexilTM until market registration to
patients who have not participated in the MermaiHD or HART studies. This will
happen under a Named Patient Programme - again under the condition that
individual requests are received from the patient's treating physician and
provided permissions are obtained from local authorities.

NeuroSearch expects to be able to disclose the first Phase III results with
HuntexilTM in the beginning of 2010 and maintains its expectations of being
able to submit the first application for market registration of the product in
2010. All preparations regarding market registration, production and marketing
of HuntexilTM are progressing according to plan.

HuntexilTM has been registered as the new brand name for the product. The
generic name - “pridopidine” - for the active pharmaceutical compound was
granted earlier this year.

• Tesofensine (obesity): After a positive End of Phase II meeting with the
American health authorities, the FDA, resulting in an endorsement of the Phase
III development plan for tesofensine, a clinical Phase III programme,
consisting of four separate clinical studies, is expected to be initiated at
the beginning of 2010. NeuroSearch is currently completing the documentation
for the first Phase III study in collaboration with the FDA. Concurrently,
NeuroSearch has intensified the discussions with potential partners with a view
to entering a license agreement regarding tesofensine.

• ACR325 (dyskinesias in Parkinson's disease): Preparations for the first study
in Parkinson patients have been completed and study start is expected for
September.

• ACR343 (schizophrenia): The preparations for a Phase II Proof of Concept
study (add on to existing treatment) in patients with schizophrenia are ongoing
and the study is expected to be initiated end 2009.

• NSD-721 (social anxiety disorder): Under the alliance with GSK, NSD-721 has
entered into clinical development with the initiation of Phase I studies in
August. In that connection NeuroSearch receives a total of DKK 67 million (EUR
9 million) in milestone payments and equity financing from GSK.

• On 17 August, NeuroSearch signed a three-year research and development
alliance with Janssen Pharmaceutica with the aim of developing and marketing
new medicines based on NeuroSearch's know-how within CNS diseases. Under the
agreement NeuroSearch will receive DKK 238 million (EUR 32 million) in
guaranteed income and financing including an option to issue new shares for the
amount of DKK 37 million (EUR 5 million). For each product successfully
marketed under the alliance, NeuroSearch is entitled to milestone payments of
up to DKK 1.6 billion (EUR 213 million) plus double-digit royalties on
Janssen's global sales.

• NSD-788 (anxiety/depression) has been successfully evaluated in a Phase I
study and subsequently a human Poof of Mechanism study has been completed with
positive results. The results support the unique profile of NSD-788 as a novel
treatment for anxiety and depression. NeuroSearch now prepares the further
development towards Phase II Proof of Concept studies.


Flemming Pedersen
CEO


Telephone conference
A telephone conference will be held today, 26 August 2009 at 3 pm Copenhagen
time (2 pm London time, 9 am New York time). Flemming Pedersen, CEO, Anita
Milland, Vice President & CFO and Hanne Leth Hillman, Vice President & Director
of Investor & Capital Market Relations, will present the 2009 half-year report
and answer questions. The telephone conference will be conducted in English and
the telephone number is +44 (0) 20 7162 0077. The corresponding PowerPoint
presentation will be available at www.neurosearch.com.


Contact persons:

Flemming Pedersen, CEO, telephone: +45 4460 8214 or +45 2148 0118

Hanne Leth Hillman, Vice President, Director of Investor & Capital Market
Relations, telephone: +45 4460 8212 or +45 4017 5103



About NeuroSearch
NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on NASDAQ
OMX Copenhagen. The core business of the company covers the development of
novel pharmaceutical agents, based on a broad and well-established drug
discovery platform focusing on ion channels and central nervous system (CNS)
disorders. A substantial share of the activities is partner financed through
strategic alliances with Janssen Pharmaceutica, Eli Lilly and Company and
GlaxoSmithKline (GSK), and license collaboration with Abbott. The drug pipeline
comprises seven clinical (Phase I-III) development programmes: Pridopidine
(ACR16) for Huntington's disease (Phase III), tesofensine for obesity (Phase
III ready), ABT-894 for ADHD (Phase II) in partnership with Abbott, ACR343 for
schizophrenia (Phase II ready), ACR325 to treat dyskinesias in Parkinson's
disease (Phase Ib), ABT-560 for the treatment of cognitive dysfunctions (Phase
I) in collaboration with Abbott, NSD-788 for anxiety (Phase I) and NSD-721 for
social anxiety disorder (Phase I). In addition, NeuroSearch has a broad
portfolio of preclinical drug candidates and holds equity interests in several
biotech companies.

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