Cobra Biologics Ltd. and Algeta Sign Agreement to Manufacture Monoclonal Antibody

4 September 2012 -- Cobra Biologics Ltd, the international clinical and commercial contract manufacturer of biologics and pharmaceuticals and Algeta ASA (OSE: ALGETA) (“Algeta”), a company focused on the development of novel targeted cancer therapeutics, announce a new contract manufacturing partnership for Algeta’s fourth Targeted Thorium Conjugate (TTC) program. The program will focus on the development of an undisclosed monoclonal antibody, which is highly selective for a validated cell surface target on hematological cancer cells, linked to Algeta's alpha-particle emitter thorium-227 (Th-227).

Under the terms of the contract manufacturing agreement, Cobra will be providing cell line development through its maxXpress service, GMP cell banking, analytical and process development, scale-up, toxicology and GMP production, as well as stability studies.

Algeta will be benefiting from Cobra’s maxXpress service, which combines the UCOE protein expression technology with the experience and expertise of Cobra Biologics’ cell line development team and the Cello™ robotic clone selection system, to enable rapid clone selection and production of the monoclonal antibody.

Peter Coleman, CEO of Cobra Biologics, said:

“We are delighted that Algeta have chosen Cobra as the manufacturer of a monoclonal antibody. Algeta’s contract forms part of a very successful year where we are seeing significant expansion in our antibody contract manufacturing as customers see the advantages Cobra’s comprehensive services provide."

For more information about Cobra Biologics, please contact Peter Coleman, CEO, on +44 (0)1782 714181 or email peter.coleman@cobrabio.com

For media enquiries, please contact Tristan Jervis or Alex Heeley on +44 (0)207 861 3019 or email: t.jervis@defacto.com.

About Cobra Biologics: Cobra Biologics is a leading international clinical and commercial contract manufacturer of biologics and pharmaceuticals with three GMP approved facilities. We offer a broad range of integrated and stand-alone development services, stretching from cell line development through to the commercial supply of medicinal products. We take pride in manufacturing excellence and being a trusted provider, delivering what we promise and helping our customers to develop drugs for the benefit of patients. Cobra Biologics provides manufacturing solutions to the biologics and pharmaceutical industry covering antibodies, recombinant proteins, viruses, DNA, cellular therapeutics and small molecules.

For more information please visit: www.cobrabio.com

About Algeta: Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. The Company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial operations. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com

Tristan Jervis

Managing Partner

Holborn Gate, 26 Southampton Buildings

London WC2A 1BP

Telephone: +44 (0)207 861 3838

Direct: +44 (0)207 861 3019

Fax: +44 (0)207 861 3839

E-mail: t.jervis@defacto.com

www.defacto.com