LifeCycle Pharma Successfully Completes €15 Million Financing

Hørsholm, Denmark, May 17, 2005 – LifeCycle Pharma A/S announced today that it has successfully completed a €15 million private placement. The Series C round was led by Alta Partners, a major US-based life science investor active in both Europe and North America. DG Lux Multimanager I Sicav Lacuna Apo BioTech Subfund, a fund advised by Adamant Biomedical Investments AG (Switzerland), together with all existing investors H. Lundbeck A/S, Novo A/S and Nordic Biotech participated in the round. Dr. Jean Deleage, Co-Founder and Director of Alta Partners, will join LifeCycle Pharma’s Board of Directors.

The proceeds of the financing will be used to advance LifeCycle’s main projects from the clinical phase to registration. The main projects are reformulated versions of fenofibrate and tacrolimus; in addition new programs in the areas of lipid management and immunosuppression will be initiated.

“We are pleased to complete this significant financing with such an outstanding syndicate of investors,” said Jan Møller Mikkelsen, LifeCycle Pharma’s President and Chief Executive Officer. “With the addition of a top-tier U.S.-based investor as well as a highly respected European-based cross-over fund, we are well-positioned to further advance our product pipeline. We plan to file for registration of our most advanced, internally developed product later this year,“ Mr. Mikkelsen added.

“We are delighted to join forces with a great pharmaceutical company like Lundbeck and a strong partner like NOVO as well as the Nordic Biotech fund to further advance the development of LifeCycle Pharma. We believe that LifeCycle’s technology platform to improve the clinical value of low solubility drugs will have a major impact in the pharmaceutical world. As a new board member, I intend to help Jan Mikkelsen and his management team prepare for the new challenges that the growth of the company will create,” said Jean Deleage.

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About LifeCycle Pharma A/S

LifeCycle Pharma is a privately owned biotechnology company with a clinical pipeline of value-added formulations of approved products. Currently, LifeCycle Pharma has three products in clinical development. Later this year, the company intends to file for registration of its first internally developed product.

LifeCycle Pharma has developed the most efficacious, clinically validated, drug-delivery platform for solving the insufficiencies of drugs with low water solubility, thus improving the bioavailability of marketed drugs and New Chemical Entities (NCEs). The resulting novel formulations created by LifeCycle Pharma can better target and remain within the therapeutic index, thus leading to drugs with vastly improved efficacy and safety profiles.

LifeCycle Pharma is collaborating with Recordati S.p.A. on a modified-release tablet formulation of Lercanidipine. Lercanidipine is an oral calcium-channel blocker for hypertension, and is marketed by Recordati under the brand name of Zanidip®. LifeCycle Pharma also collaborates with H. Lundbeck A/S on several product opportunities in the area of CNS.

For more information about LifeCycle Pharma A/S, please visit www.lcpharma.com

Alta Partners ( www.altapartners.com ) was founded in 1996 by four of the senior partners of Burr, Egan, Deleage & Co. (BEDCO), a pioneering venture capital firm formed in 1979 that focused on early-stage investing in life sciences, information technology and communications. The firm is viewed as a preferred venture partner due to its dominant market position in life sciences and the quality of its team. Alta Partners currently manages seven funds aggregating approximately $1.5 billion in committed capital. Since its founding in 1996, Alta has been one of the most active life science investors funding over 90 companies across the continuum from company formation to later-stage opportunities.


Contact:
Michael Wolff Jensen
Executive Vice President & CFO
Tel: +45 70 33 33 00
Mobile: +45 40 74 62 44
Email: mwj@lcpharma.com