Below is the text of a press release from Santaris describing 
                  the therapy and the new trials.
                  
                
                Hoersholm, 
                  Denmark and San Diego, CA -- September 22, 2010 -- Santaris 
                  Pharma A/S, a clinical-stage biopharmaceutical company focused 
                  on the discovery and development of RNA-targeted therapies, 
                  today announced that it has advanced miravirsen (SPC3649), the 
                  first microRNA-targeted drug to enter clinical trials, into 
                  Phase 2 studies to assess the safety and tolerability of the 
                  drug in treatment-naive patients infected with the hepatitis 
                  C virus (HCV).
                Paving 
                  the way to conduct the first clinical trials of a microRNA-targeted 
                  drug in the United States, Santaris Pharma A/S also received 
                  acceptance of its Investigational New Drug (IND) application 
                  from the U.S. Food and Drug Administration (FDA). In addition 
                  to the United States, the Phase 2a clinical trials will be conducted 
                  in the Netherlands, Germany, Poland, Romania, and Slovakia.
                The 
                  World Health Organization estimates about 3% of the world's 
                  population has been infected with HCV and that some 170 million 
                  are chronic carriers at risk of developing liver cirrhosis and/or 
                  liver cancer[2]. Approximately 3-4 million Americans are chronically 
                  infected with an estimated 40,000 new infections per year(1). 
                  In Europe, there are about 4 million carriers[2]. The current 
                  standard of care, pegylated interferon in combination with ribavirin, 
                  is effective in only about 50% of those treated[1].
                Developed 
                  using Santaris Pharma A/S proprietary Locked Nucleic Acid (LNA) 
                  Drug Platform, miravirsen is a specific inhibitor of miR-122, 
                  a liver specific microRNA that the hepatitis C virus requires 
                  for replication. Miravirsen is designed to recognize and sequester 
                  miR-122, making it unavailable to the Hepatitis C virus. As 
                  a result, the replication of the virus is effectively inhibited 
                  and the level of hepatitis C virus is reduced.
                "Advancing 
                  miravirsen, the first microRNA-targeted drug to enter clinical 
                  trials, into Phase 2 studies in patients with Hepatitis C demonstrates 
                  Santaris Pharma A/S leadership in developing RNA-targeted medicines," 
                  said Arthur A. Levin, PhD, Vice President, Chief Development 
                  Officer and President, U.S. Operations. "Receiving IND 
                  acceptance from the FDA to conduct the first clinical trials 
                  with a microRNA-targeted drug in the United States brings Santaris 
                  Pharma A/S one step closer to potentially providing a growing 
                  number of patients chronically infected with HCV with a more 
                  effective and better tolerated treatment option."
                The 
                  LNA Drug Platform is the only technology with both mRNA and 
                  microRNA targeted drugs in clinical trials, reinforcing the 
                  broad utility of the platform. The unique combination of small 
                  size and very high affinity, which is only achievable with LNA-based 
                  drugs, allows this new class of drugs to potently and specifically 
                  inhibit RNA targets in many different tissues without the need 
                  for complex delivery vehicles. LNA-based drugs are a promising 
                  new type of therapy that enables scientists to develop drugs 
                  to attack previously inaccessible pathways.
                "Using 
                  our LNA Drug Platform to advance the first microRNA-targeted 
                  therapy into human clinical trials was certainly a scientific 
                  breakthrough," said Henrik Oerum, PhD, Vice President and 
                  Chief Scientific Officer of Santaris Pharma A/S. "We are 
                  extremely pleased with the results of the Phase I trials and 
                  excited to progress miravirsen into Phase 2 clinical trials. 
                  Because of its unique mechanism of action and tolerability profile, 
                  miravirsen has the potential to be an effective treatment option 
                  for patients with HCV."
                The 
                  randomized, double-blind, placebo-controlled, ascending multiple-dose 
                  Phase 2a study will assess the safety and tolerability of miravirsen 
                  and is designed to enroll up to 55 treatment-naive patients 
                  with chronic hepatitis C virus genotype 1 infection. Secondary 
                  endpoints include pharmacokinetics of miravirsen and its effect 
                  on viral load. Miravirsen will be given as subcutaneous injections 
                  weekly or every other week for four weeks.
                Data 
                  from Phase 1 clinical studies with miravirsen in healthy volunteers 
                  show that the drug is well tolerated. A recent study published 
                  in Science demonstrated that miravirsen successfully inhibited 
                  miR-122 and dramatically reduced hepatitis C virus in the liver 
                  and in the bloodstream in chimpanzees chronically infected with 
                  the Hepatitis C virus[3]. Miravirsen provided continued efficacy 
                  in the animals up to several months after the treatment period 
                  with no adverse events and no evidence of viral rebound or resistance.
                In 
                  addition to miravirsen, Santaris Pharma A/S has a robust product 
                  pipeline targeting mRNAs and microRNAs both internally as well 
                  as in partnerships and collaborations with miRagen Therapeutics 
                  (cardiovascular diseases), Shire PLC (rare genetic disorders), 
                  Pfizer (undisclosed therapeutic areas), GlaxoSmithKline (viral 
                  disease) and Enzon Pharmaceuticals (oncology).
                About 
                  microRNAs
                MicroRNAs 
                  have emerged as an important class of small RNAs encoded in 
                  the genome. They act to control the expression of sets of genes 
                  and entire pathways and are thus thought of as master regulators 
                  of gene expression. Recent studies have demonstrated that microRNAs 
                  are associated with many disease processes. Because they are 
                  single molecular entities that dictate the expression of fundamental 
                  regulatory pathways, microRNAs represent potential drug targets 
                  for controlling many biologic and disease processes.
                About 
                  Locked Nucleic Acid (LNA) Drug Platform
                The 
                  LNA Drug Platform and Drug Discovery Engine developed by Santaris 
                  Pharma A/S combines the company's proprietary LNA chemistry 
                  with its highly specialized and targeted drug development capabilities 
                  to rapidly deliver potent single-stranded LNA-based drug candidates 
                  against RNA targets, both mRNA and microRNA, for a range of 
                  diseases including metabolic disorders, infectious and inflammatory 
                  diseases, cancer and rare genetic disorders. The LNA Drug Platform 
                  overcomes the limitations of earlier antisense and siRNA technologies 
                  to deliver potent single-stranded LNA-based drug candidates 
                  across a multitude of disease states. The unique combination 
                  of small size and very high affinity, which is only achievable 
                  with LNA-based drugs, allows this new class of drugs to potently 
                  and specifically inhibit RNA targets in many different tissues 
                  without the need for complex delivery vehicles. LNA-based drugs 
                  are a promising new type of therapy that enables scientists 
                  to develop drugs to attack previously inaccessible clinical 
                  pathways. The most important features of LNA-based drugs include 
                  excellent specificity, providing optimal targeting; increased 
                  affinity to targets providing improved potency; and strong pharmacology 
                  upon systemic delivery without complicated delivery vehicles.
                About 
                  Santaris Pharma A/S
                 Santaris 
                  Pharma A/S is a privately held clinical-stage biopharmaceutical 
                  company focused on the discovery and development of RNA-targeted 
                  therapies. The Locked Nucleic Acid (LNA) Drug Platform and Drug 
                  Discovery Engine developed by Santaris Pharma A/S combine the 
                  company's proprietary LNA chemistry with its highly specialized 
                  and targeted drug development capabilities to rapidly deliver 
                  potent single-stranded LNA-based drug candidates across a multitude 
                  of disease states. The company's research and development activities 
                  focus on infectious diseases and metabolic disorders, while 
                  partnerships with major pharmaceutical companies include a range 
                  of therapeutic areas including cancer, cardiovascular disease, 
                  infectious and inflammatory diseases, and rare genetic disorders. 
                  The company has strategic partnerships with miRagen Therapeutics, 
                  Shire plc, Pfizer, GlaxoSmithKline, and Enzon Pharmaceuticals. 
                  As part of its broad patent estate, the company holds exclusive 
                  worldwide rights to all therapeutic uses of LNA. Santaris Pharma 
                  A/S, founded in 2003, is headquartered in Denmark with operations 
                  in the United States. Please visit http://www.santaris.com 
                  for more information.
Santaris 
                  Pharma A/S is a privately held clinical-stage biopharmaceutical 
                  company focused on the discovery and development of RNA-targeted 
                  therapies. The Locked Nucleic Acid (LNA) Drug Platform and Drug 
                  Discovery Engine developed by Santaris Pharma A/S combine the 
                  company's proprietary LNA chemistry with its highly specialized 
                  and targeted drug development capabilities to rapidly deliver 
                  potent single-stranded LNA-based drug candidates across a multitude 
                  of disease states. The company's research and development activities 
                  focus on infectious diseases and metabolic disorders, while 
                  partnerships with major pharmaceutical companies include a range 
                  of therapeutic areas including cancer, cardiovascular disease, 
                  infectious and inflammatory diseases, and rare genetic disorders. 
                  The company has strategic partnerships with miRagen Therapeutics, 
                  Shire plc, Pfizer, GlaxoSmithKline, and Enzon Pharmaceuticals. 
                  As part of its broad patent estate, the company holds exclusive 
                  worldwide rights to all therapeutic uses of LNA. Santaris Pharma 
                  A/S, founded in 2003, is headquartered in Denmark with operations 
                  in the United States. Please visit http://www.santaris.com 
                  for more information.
                  
                  9/24/10
                  
                References
                1. 
                  American 
                  Association for the Study of Liver Diseases. 
                2. 
                  World 
                  Health Organization. 
                3. 
                  Science. 2010 Jan 8; 327(5962):198-201. Epub 2009 Dec 
                  3.
                Source
                Santaris 
                  Pharma. Santaris Pharma A/S Advances Miravirsen, the First MicroRNA-Targeted 
                  Drug to Enter Clinical Trials, into Phase 2 to Treat Patients 
                  Infected with Hepatitis C Virus. Press release. September 20, 
                  2010.