Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced 32% growth in revenue
in the first six months of 2009 compared to the same period last year. Organic
growth in Exiqon Life Sciences' research product sales was 21% on the
year-earlier period. Exiqon's full-year revenue guidance is reduced DKK 10
million attributable to Exiqon Diagnostics and now based on an average USD/DKK
exchange rate of 5.25 but otherwise maintained including a net loss for the
year 2009 at the upper end of the interval DKK 115-130 million including costs
of current incentive programs, including warrants, expensed in the amount of
DKK 5 million.

• Revenue increased 32% to DKK 58.4 million in the first six months of 2009
compared to DKK 44.5 million in the same period last year. In the second
quarter of 2009, revenue increased 9% to DKK 30.6 million compared to DKK 28.0
million in the same period last year.

• Total operating expenses increased 18% to DKK 97.4 million in the first six
months of 2009 compared to DKK 82.7 million in the same period last year. In
the second quarter of 2009, total operating expenses decreased 4% to DKK 46.4
million compared to DKK 48.3 million in the same period last year.

• Net loss was DKK 81.2 million in the first six months of 2009. EPS amounted
to DKK -2.68 in the first six months of 2009 and DKK -1.24 in the second
quarter of 2009.

• Exiqon Diagnostics has been awarded DKK 24 million from the Danish National
Advanced Technology Foundation to develop a diagnostic blood screening test for
colon cancer.

• Exiqon Diagnostics launched the KRAS test and after end period 30 June 2009,
the BRAF test for mutational analysis.

• After end period 30 June 2009, Exiqon Life Sciences successfully launched its
new “Home of LNA™” strategy by offering custom LNA™ oligonucleotides.

• After end period 30 June 2009, Exiqon Life Sciences has been restructured and
the annual direct cost of operations has been reduced by DKK 40 million on a
full-year basis.

CEO Lars Kongsbak says: “We have now restructured Exiqon Life Sciences. As part
of the restructuring, we will improve margins through outsourcing of our
manufacturing, and the first product lines have already been successfully
outsourced. Our diagnostic development programs are progressing as planned, and
we are excited about the grant we have received from the Advanced Technology
Foundation to develop a miRNA based test which can detect colon cancer at an
early stage simply from a blood sample.”

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

See the full interim report in the attached PDF.

announcement_15_h1_2009_final.pdf