Algeta ASA Raises Euro 23 Million In Series A Round

OSLO, NORWAY -- (MARKET WIRE) -- 09/02/2005 -- Algeta ASA, a therapeutics company dedicated to the development of novel anticancer agents based on alpha particle emitting radionuclides, announced today the closing of a Series A round of financing totaling NOK 185 million (Euro 23 million/US$29 million). The funds raised will support the continued development of the Company's lead product candidate, Alpharadin(tm), through its ongoing Phase II clinical trials and into pivotal Phase III trials as a potential new treatment for bone metastases arising from primary prostate cancer. Alpharadin, is a novel bone-seeking experimental radiopharmaceutical based on the alpha particle emitter radium-223.

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