Positive Biodistribution and Dosimetry Data for Alpharadin Cancer Therapy Presented at the Annual Meeting of the Society for Nuclear Medicine

Oslo, Norway, 19 June 2008 - Algeta ASA (OSE: ALGETA), the cancer therapeutics company, announces that positive biodistribution and dosimetry data for its lead cancer therapy Alpharadin was presented yesterday at the 55th Annual Meeting of the Society for Nuclear Medicine in New Orleans, USA. The data were presented in an oral presentation by Dr. Cecilia Hindorf on behalf of the Royal Marsden Hospital (Sutton, UK), entitled “A biodistribution and dosimetry study of therapeutic 223Ra-chloride (Alpharadin) in patients with osteoblastic skeletal metastases secondary to hormone refractory prostate cancer.”

The study (BC1-05), which included patients with skeletal metastases from hormone refractory prostate cancer (HRPC) demonstrated that Alpharadin was rapidly eliminated from blood and taken up in the bone, where it exerts its therapeutic effects on skeletal metastases. The data also showed that Alpharadin not taken up by the bone is rapidly excreted from the body mainly via faeces. There was no specific uptake in normal organs such as the kidneys or the liver resulting in very low absorbed doses to these organs. The patients received two injections of a therapeutic dose of Alpharadin six weeks apart and the results were similar after both injections.
Thomas Ramdahl, President and CEO of Algeta commented: “We are very pleased to see the initial results from our BC1-05 biodistribution and dosimetry study demonstrating very low radiation doses to non-target organs. The results confirm the safety and benign side-effect profile of our lead product Alpharadin, which now has commenced a phase III clinical trial in prostate cancer patients with symptomatic skeletal metastases.”

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For further information, please contact

Dr. Thomas Ramdahl, CEO
Øystein Soug, CFO

+47 23 00 79 90 / +47 913 91 458 (mob)
+47 23 00 79 90/ +47 906 56 525 (mob)
post@algeta.com

Dr. Mark Swallow / David Dible
Citigate Dewe Rogerson

+44 (0)207 638 9571
mark.swallow@citigatedr.co.uk


About Algeta

Algeta ASA is a Norwegian cancer therapeutics company built on world-leading, proprietary technology.

Algeta is developing new, targeted cancer therapeutics that harness the unique characteristics of alpha particle emitters and are potent, well-tolerated and convenient to use.

Algeta’s lead product candidate, Alpharadin, has commenced the ALSYMPCA Phase III clinical trial in hormone refractory prostate cancer based on positive Phase II results. Alpharadin is a novel bone-seeking therapeutic based on the alpha particle emitter radium-223 and may target skeletal metastases from multiple cancer types, as well as primary bone cancers.

Algeta is also developing other technologies for delivering alpha emitters. These include microparticles, liposomes, and methods to enhance the potency of therapeutic antibodies and other tumor-targeting molecules by linking them to the alpha particle emitter thorium-227.

The Company is headquartered in Oslo, Norway, and was founded in 1997. Algeta listed on the Oslo Stock Exchange in March 2007 (Ticker: ALGETA).

Alpharadin and Algeta are trademarks of Algeta ASA.


Forward-looking Statement

This news release contains forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on results of operations and the financial condition of Algeta. 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. Theses factors include, among other things, risks associated with technological development, the risk that research & development will not yield new products that achieve commercial success, the impact of competition, the ability to close viable and profitable business deals, the risk of non-approval of patents not yet granted and difficulties of obtaining relevant governmental approvals for new products.

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