Copenhagen, Denmark - December 16, 2011 - Topotarget A/S (NASDAQ-OMX: TOPO.CO)
has announced today that Apricus Biosciences, Inc. has entered into an
agreement to purchase 100% of the outstanding common stock of Topotarget A/S'
American subsidiary division, Topotarget USA, Inc. The acquisition includes all
Totect® North and South American assets, including the Totect® sales team, and
the US trademark Totect®. Financial expectations for 2011 are improved.

Copenhagen, 2011-12-16 14:00 CET (GLOBE NEWSWIRE) --

Apricus Biosciences, Inc. (“Apricus Bio”) has agreed to purchase 100% of the
outstanding common stock of Topotarget A/S’ (“Topotarget”) American subsidiary
division, Topotarget USA, Inc. (“Topotarget USA”) in exchange for Apricus Bio
common stock worth approximately USD 2 million in upfront payments, and up to
approximately USD 2 million more in Apricus Bio common stock if certain
milestones are achieved, which in total amount to approximately USD 4 million.
Apricus Bio will own all rights to Totect® in North America and South America
and the respective territories, and possessions of the countries in North
America and South America. Topotarget had previously sold the rest-of-world
rights to Totect®, which are marketed under the name Savene®. The sale of
Totect® is subject to customary closing conditions and is expected to close by
December 31, 2011.

“We are very pleased with the sale of Totect® to Apricus Biosciences, which is
in line with our core strategy and commitment to our shareholders to focus on
the late-stage clinical development and commercialization of belinostat, as
well as maintaining a cost-effective operational structure for this purpose”,
said Francois Martelet, CEO of Topotarget A/S.

Revised expectations for 2011
Upfront payments related to the sale of Totect® amount to approximately USD 2
million of Apricus Bio common stock which will be accounted for by Topotarget
in the fourth quarter of 2011.

For the fourth quarter of 2011, Topotarget’s income statement will be
positively influenced by an extraordinary income of around DKK 5 million
relating to the difference between the approximately USD 2 million of Apricus
Bio common stock and the carrying amount of the assets related to the sale of
Totect®. Further, Topotarget’s equity will be positively influenced by the sale
of Totect® by approximately DKK 5 million.

As a result of the above, Topotarget now expects an estimated pre-tax loss in
the range of DKK 20-40 million for the full year financial result of 2011,
compared to the latest announced expectations of DKK 25-45 million.

Topotarget expects to have net cash and cash equivalents of around DKK 110
million at year-end 2011.

Topotarget A/S
For further information, please contact:

Francois Martelet, CEO: Direct: +45 39 17 83 43; Mobile: +45 51 32 83 41

Anders Vadsholt, CFO: Direct: +45 39 17 83 45; Mobile: +45 28 98 90 55


Background information

About Totect® and the Anthracycline Extravasation Market
Totect® or Dexrazoxane HCl is used to treat anthracycline extravasation, which
is the leaking of chemotherapy from the veins of cancer patients into tissues
and other areas of the body. Anthracyclines are among the most used
chemotherapy drugs to treat cancer. There are over 500,000 anthracycline
infusions in the U.S. every year and if an extravasation that occurs following
an anthracycline infusion is left untreated, patients with this condition may
risk serious infection, tissue necrosis, or in some cases death. It is
estimated that in the U.S., there are approximately 3,500 cancer centers that
provide chemotherapy treatments where anthracyclines are administered.

About Topotarget A/S
Topotarget (NASDAQ-OMX: TOPO.CO) is an international biopharmaceutical company
headquartered in Copenhagen, Denmark, dedicated to clinical development and
registration of oncology products. Topotarget focuses, in collaboration with
Spectrum Pharmaceuticals, Inc., on the development in pivotal studies of its
lead drug candidate, belinostat, which has shown positive results as a
monotherapy treating haematological malignancies and positive results in solid
tumours. Belinostat may be used in combination with full doses of chemotherapy,
and is in a pivotal trial within PTCL (peripheral T-cell lymphoma). For more
information, please refer to www.topotarget.com.

About Apricus Biosciences, Inc.
Apricus Bio, a San Diego-based, revenue-generating, specialty pharmaceutical
company, with commercial products and a broad pipeline across numerous
therapeutic classes.

Revenues and growth are driven from the sales of the Company’s commercial
products and out-licensing in certain territories of its product pipeline and
NexACT® technology. The company’s pipeline includes Vitaros®, approved in
Canada for the treatment of erectile dysfunction, Totect® the only drug
approved in the US for the treatment of anthracycline extravasation, as well as
compounds in development from pre-clinical through pre-registration, currently
focused on Sexual Dysfunction, Oncology, Dermatology, Autoimmune, Pain,
Anti-Infectives, Diabetes and Consumer Healthcare.

The Company also expects to develop and/or acquire and then bring to market
additional pharmaceutical products in areas of care that will benefit patient
needs worldwide.

For further information on Apricus Bio, visit http://www.apricusbio.com, and
for information on its subsidiary please visit http://www.nexmedusa.com. You
can also receive information at http://twitter.com/apricusbio and
http://facebook.com/apricusbio.

Topotarget A/S Safe Harbour Statement
This announcement may contain forward-looking statements, including statements
about our expectations of the progression of our preclinical and clinical
pipeline including the timing for commencement and completion of clinical
trials and with respect to cash burn guidance. Such statements are based on
management's current expectations and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from those
described in the forward-looking statements. Topotarget A/S cautions investors
that there can be no assurance that actual results or business conditions will
not differ materially from those projected or suggested in such forward-looking
statements as a result of various factors, including, but not limited to, the
following: The risk that any one or more of the drug development programs of
Topotarget A/S will not proceed as planned for technical, scientific or
commercial reasons or due to patient enrolment issues or based on new
information from non-clinical or clinical studies or from other sources; the
success of competing products and technologies; technological uncertainty and
product development risks; uncertainty of additional funding; Topotarget A/S'
history of incurring losses and the uncertainty of achieving profitability;
Topotarget A/S' stage of development as a biopharmaceutical company; government
regulation; patent infringement claims against Topotarget A/S' products,
processes and technologies; the ability to protect Topotarget A/S' patents and
proprietary rights; uncertainties relating to commercialization rights; and
product liability exposure. We disclaim any intention or obligation to update
or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise, unless required by law.

Apricus Bio's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with
the exception of the historical information contained in this release, the
matters described herein contain forward-looking statements that involve risks
and uncertainties that may individually or mutually impact the matters herein
described for a variety of reasons that are outside the control of the Company,
including, but not limited to, its ability to further develop its products such
as Vitaros® for erectile dysfunction, Totect® for anthracycline extravasation
and other products and product candidates, to have its products and product
candidates approved by relevant regulatory authorities, to successfully
commercialize such products and product candidates, to integrate successfully
its acquired companies such as Topotarget USA and other companies, products and
technologies and to achieve its development, commercialization and financial
goals. Readers are cautioned not to place undue reliance on these
forward-looking statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read the risk
factors set forth in the Company's most recent annual report on Form 10-K,
subsequent quarterly reports filed on Form 10-Q and other filings made with the
SEC. Copies of these reports are available from the SEC's website or without
charge from the Company.

To NASDAQ OMX Copenhagen A/S

Announcement No. 23-11 / Copenhagen, December 16, 2011

Announcement No 23-11 Sale of Totect_161211.pdf