Algeta ASA : Algeta initiates new oncology research program to evaluate the potential of a Targeted Thorium Conjugate (TTC)

 Algeta ASA : Algeta initiates new oncology research program to evaluate the
    potential of a Targeted Thorium Conjugate (TTC) based on Immunomedics'
                        anti-CD22 monoclonal antibody


CD22 is a well-validated target for hematological cancers

Oslo, Norway, 28 January 2013 - Algeta  ASA (OSE: ALGETA) has initiated a  new 
research program to  evaluate a  novel Targeted Thorium  Conjugate (TTC)  that 
combines Algeta's proprietary thorium-227 alpha-pharmaceutical payload with an
anti-CD22 monoclonal antibody  (epratuzumab) developed  by Immunomedics,  Inc. 
(NASDAQ: IMMU).

Epratuzumab is a humanised  monoclonal antibody (mAb) that  binds to the  CD22 
glycoprotein on the surface of B cells. Epratuzumab has been evaluated for the
treatment of a variety  of hematological cancers  and for autoimmune  diseases 
such as systemic lupus erythematosus (SLE).

Under the terms  of this agreement,  Immunomedics will provide  clinical-grade 
antibody to  Algeta, which  has rights  to evaluate  the potential  of a  TTC, 
linking thorium-227 to epratuzumab, for  the treatment of cancer. Algeta  will 
fund all preclinical and clinical development costs  up to the end of phase  I 
testing. Upon  successful completion  of phase  I testing,  the parties  shall 
negotiate terms  for  a  license  at Algeta's  request  according  to  certain 
parameters now agreed between the companies.  Payments in the first year  from 
Algeta to Immunomedics include a signature fee, an antibody delivery milestone
and payments  for  cGMP  antibody  manufacture.  No  further  details  of  the 
agreement are disclosed.

Thomas Ramdahl,  Executive  Vice President  and  Chief Technology  Officer  of 
Algeta, said: "The broad  utility of our  proprietary thorium-227 payload  and 
its potential  to  be  more  effective at  killing  cancer  cells  than  other 
therapeutic payloads gives Algeta  a great opportunity  to build an  extensive 
pipeline of  targeted cancer  therapies.  This collaboration  brings  together 
Algeta, the global leader in alpha-pharmaceuticals and Immunomedics, a pioneer
in antibody  products  and  technologies.  A TTC  based  on  a  well-validated 
antibody such as epratuzumab is an exciting prospect as we work to achieve our
goal of generating a clinical candidate from the TTC platform in 2014".

Algeta's TTC  strategy  is  based  on gaining  access  to  carefully  selected 
tumor-targeting  molecules,  via  in-licensing,  collaboration  or  via  third 
parties,  to  which  it  links  thorium-227  thereby  creating  potential  new 
therapeutics. Algeta's  disclosed  TTC programs  include  collaborations  with 
Sanofi and Ablynx,  programs based on  HER2-targeting (breast/ovarian  cancer) 
and  PDGFR-beta-targeting  (anti-angiogenesis)   molecules  in-licensed   from 
Affibody and  two programs  targeting  hematological cancers,  including  this 
newly announced program.

About Algeta's TTC Platform

Algeta is evaluating the potential utility of alpha-particle emitting elements
in the  treatment of  cancer. Previous  studies^[1] have  indicated that  such 
elements may  have value  in  treating cancers  by causing  double-strand  DNA 
breaks that  trigger cell  death, and  have  also shown  that the  effects  of 
alpha-emission are highly localized as a result of the very short range of the
alpha particle  (2-10  cell  diameters).  Thorium-227  is  one  alpha-particle 
emitting element (radionuclide) that has  been selected by Algeta for  further 
investigation. By linking  thorium-227 to cancer-targeting  molecules such  as 
monoclonal antibodies,  Algeta  believes  it  may be  possible  to  develop  a 
pipeline  of   targeted   alpha-pharmaceuticals,   termed   Targeted   Thorium 
Conjugates, or  TTCs.  The TTC  platform  is at  an  early research  phase  in 
development. Algeta intends to evaluate TTCs in a broad range of cancer  types 
to determine  whether  the TTC  platform  could offer  advantages  over  naked 
(un-armed)  antibodies  or  antibody-drug  conjugate  technologies  that   use 
cytotoxic drugs  (rather  than  alpha-emitting  elements)  as  payloads.  Such 
advantages may include increased potency, a more localized tumoricidal  effect 
and the potential to address drug resistance by virtue of the physical  action 
of the alpha particles.

For more information about Algeta's technology, please visit www.algeta.com.

                                     ###

For further information, please contact:

Mike Booth                           +47 2202 4510
Communications & Corporate Affairs   ir@algeta.com
Media enquiries:
Mark Swallow                         +44 207 638 9571
Citigate Dewe Rogerson               mark.swallow@citigatedr.co.uk
Knut Ekern                           +47 22 04 82 00
Gambit Hill & Knowlton               knut.ekern@hkstrategies.com
Kari Watson                          +1 781 235 3060
MacDougall Biomedical Communications kwatson@macbiocom.com 
US investor enquiries:
Tricia Swanson                       +1 646 378 2953
The Trout Group                      tswanson@troutgroup.com

About Algeta

Algeta is  a  company  focused  on developing  novel  targeted  therapies  for 
patients with cancer based on  its alpha-pharmaceutical platform. The  Company 
is headquartered in  Oslo, Norway, and  has a US  subsidiary, Algeta US,  LLC, 
based in Cambridge, MA performing  commercial marketing operations in the  US. 
Algeta is  listed  on the  Oslo  Stock  Exchange (Ticker:  ALGETA).  For  more 
information please visit www.algeta.com.



Forward-looking Statements



This news release contains certain  forward-looking statements that are  based 
on uncertainty, as they relate to events and depend on circumstances that will
occur in the future and which, by their nature, may have an impact on  results 
of operations  and the  financial condition  of Algeta.  Such  forward-looking 
statements reflect  our  current  views  and  are  based  on  the  information 
currently available to Algeta. Algeta cannot give any assurance as to  whether 
such forward  looking  statements will  prove  to be  correct.  These  forward 
looking statements include statements regarding future development  activities 
generally and our TTC  program in particular. There  are a number of  factors 
that could cause  actual results  and developments to  differ materially  from 
those expressed or implied by these forward-looking statements. These  factors 
include, among  other  things,  risks or  uncertainties  associated  with  the 
success of future clinical trials, collaborations with other companies in  the 
development of targeting molecules,  general economic and business  conditions 
and  difficulties  of  obtaining  relevant  governmental  approvals  for   new 
products, and  the  other risks  and  uncertainties described  in  our  annual 
report.

[1]Hall (1994) Radiobiology for the Radiologist (Lippincott, Philadelphia)

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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