Report of transactions with shares and related securities of NeuroSearch by persons discharging managerial responsibilities and person/companies closely associated with these

Not for release, publication or distribution in Australia, Canada, Japan or the
United States 
This announcement does not constitute an offer to sell or the solicitation of
an offer to buy the securities of NeuroSearch A/S (the “Securities”) in
Australia, Canada, Japan or the United States or in any other jurisdiction.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration under the U.S. Securities Act of 1933, as
amended. The issuer of the Securities has not registered, and does not intend
to register, any portion of the Offering in the United States, and does not
intend to conduct a public offering of the Securities in the United States. 

Notice to UK residents
This announcement is only being distributed to, and is only directed at,
persons in the United Kingdom that are qualified investors as that term is
defined in the Prospectus Directive that are also (i) “investment
professionals” falling within article 19(5) of the Financial Service and
Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii)“high
net worth entities” and other persons to whom it may lawfully be communicated,
falling within the meaning of Article 49(2)(a) to (d) of the Order (all such
persons being “relevant persons”). The offered shares of NeuroSearch A/S are
only available to relevant persons and any invitation, offer or agreement to
subscribe, purchase or otherwise acquire such offered shares will be engaged in
only with relevant persons. Any person who is not a relevant person should not
act or rely on this document or any of its content. 

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Pursuant to section 28a of the Danish Act on Securities Trading, NeuroSearch
A/S (NEUR.CO) shall make public transactions with shares and related securities
of NeuroSearch A/S by persons discharging managerial responsibilities and
persons/companies closely associated with these. 

Name: AA Consult ApS
Reason: A company owned by Allan Andersen, member of the Board
Issuer: NeuroSearch A/S 
ISIN code: DK0060192771
Transaction: Subscription of shares
Trade date: 30 October 2009
Market: NASDAQ OMX Copenhagen A/S
Number (pcs): 7,021
Market value (DKK): 421,260

Name: AA Consult ApS
Reason: A company owned by Allan Andersen, member of the Board
Issuer: NeuroSearch A/S 
ISIN code: DK0060192698 
Transaction: Purchase of preemptive rights
Trade date: 30 October 2009
Market: NASDAQ OMX Copenhagen A/S
Number (pcs): 19,711
Market value (DKK): 67,412

Name: Allan Andersen
Reason: Member of the Board
Issuer: NeuroSearch A/S 
ISIN code: DK0060192698 
Transaction: Sale of preemptive rights
Trade date: 23 October 2009
Market: NASDAQ OMX Copenhagen A/S
Number (pcs): 19,713
Market value (DKK): 67,418


Contact person: 
Anita Milland, Vice President, CFO, telephone +45 4460 8274 or +45 2016 3432 


About NeuroSearch 
NeuroSearch (NEUR) is a Scandinavian biopharmaceutical company listed on NASDAQ
OMX Copenhagen A/S. The core business of the company covers the development of
novel pharmaceutical agents, based on a broad and well-established drug
discovery platform focusing on ion channels and central nervous system (CNS)
disorders. A substantial share of the activities is partner financed through
strategic alliances with Janssen Pharmaceutica, Eli Lilly and Company and
GlaxoSmithKline (GSK), and a license collaboration with Abbott. The drug
pipeline comprises eight clinical (Phase I-III) development programmes:
Huntexil™ (pridopidine) for Huntington's disease (Phase III), tesofensine for
obesity (Phase III ready), ABT-894 for ADHD (Phase II) in partnership with
Abbott, ACR343 for schizophrenia (Phase II ready), ACR325 to treat dyskinesias
in Parkinson's disease (Phase Ib), ABT-560 for the treatment of cognitive
dysfunctions (Phase I) in collaboration with Abbott, NSD-788 for anxiety (Phase
I) and NSD-721 for social anxiety disorder (Phase I) in partnership with GSK.
In addition, NeuroSearch has a broad portfolio of preclinical drug candidates
and holds equity interests in several biotech companies.