ARDANA SIGNS AGREEMENT WITH PHARMACURO TO MARKET STRIANT™ SR IN THE NORDIC REGION

Edinburgh : 9 November 2005 : Ardana plc (LSE:ARA) today announces that it has signed an agreement under which Ardana grants Pharmacuro ApS exclusive rights to market Striant™SR, Ardana’s testosterone replacement therapy for male hypogonadism, in the Nordic region.

Striant™SR is a mucoadhesive buccal (gum surface) tablet containing 30mg testosterone and is indicated as a replacement therapy for male hypogonadism when deficiency of testosterone has been confirmed.  Striant™SR is the first-to-market buccal adhesive tablet and in the UK it is marketed to urologists and endocrinologists by Ardana’s own sales force. Other therapies for male hypogonadism include injectable formulations of testosterone, oral preparations, transdermal patches, topical gels and sub-cutaneous implants.

Pharmacuro, established in 2003, is a young, dynamic, pharmaceutical marketing and distribution company that provides the medical community of Denmark, Sweden, Norway and Finland with a range of products. Its portfolio, including an endocrine product for diabetic patients, has been built through in-licensing agreements and its CEO has played a pivotal role in setting up the Nordic Urology Advisory Board and the Danish Urology Science Club.

Pharmacuro is an excellent strategic partner for Ardana: its focused sales and marketing force targets endocrinologists and it has already established strong relationships in the Nordic region. The market size for testosterone replacement in the Nordic region is estimated at approximately €3 million per annum. 

Pharmacuro expects to launch Striant™SR in the Nordic market in H1 2006.  Financial terms were not disclosed. Today’s announcement follows Ardana’s German marketing contract for Striant™SR which was agreed with Cytochemia AG in June 2005.

Dr. Maureen Lindsay, Chief Executive of Ardana, said: “Further to the German launch of Striant™SR last month, we are delighted to extend our marketing capabilities to include the Nordic region – an important market for Striant™SR. Pharmacuro is well positioned to address our target customer base and we anticipate a strong contribution from our experienced, fast moving Nordic partner.“

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