TopoTarget A/S Acquires G2M Cancer Drugs AG

Move creates strong oncology company with dominance in the field of HDAC inhibitors

Copenhagen, DK and Oxford, UK : 1 March 2005

TopoTarget A/S has acquired G2M Cancer Drugs AG (G2M), the German anti-cancer therapeutics company. The move unites two companies with complementary strategies, products and research and creates a heavy weight Danish oncology company with subsidiaries in the UK and Germany. The new entity will be a leader in the field of histone deacetylase (HDAC) inhibitors, have a broad and rich development portfolio and the potential to reach sustainable profitability by 2007. G2M’s oncology portfolio includes two products based on the histone deacetylase (HDAC) inhibitor, G2M-777. BACECA® is currently in Phase II clinical evaluation and PEAC® is anticipated to enter Phase II later this year. Its third product, ZEMAB®, has just completed Phase I clinical trials. Dr Peter Buhl Jensen, MD, PhD, CEO of TopoTarget commented "G2M is an excellent strategic fit. The two companies have complementary products, research interests and objectives, which centre on developing novel cancer therapies and new oncology indications for existing drugs." "This deal broadens and strengthens our clinical and preclinical pipeline. In particular, G2M-777 complements TopoTarget’s HDAC inhibitor PXD101, to give TopoTarget a commanding position in this important area of oncology. TopoTarget is developing PXD101 in collaboration CuraGen Corporation (NASDAQ:CRGN) and it recently entered Phase II clinical trials in patients with the serious blood cancer, advanced multiple myeloma. Closer to market is Topotect, TopoTarget’s therapy for the prevention of severe tissue damage following accidental extravasation of chemotherapeutics, which is in Phase III clinical trials and scheduled for launch in 2006. We are also developing Topotect/etoposide, a co-therapy for the treatment of patients with brain metastasis, which is in Phase I clinical trials."

Nomura Code Securities acted as financial advisor for G2M.