TopoTarget announces the European divestiture of Savene® to SpePharm Holding, BV and reconfirms the focus to develop and commercialise Belinostat

Copenhagen, Denmark – 2 March, 2010 – TopoTarget A/S (NASDAQ OMX: TOPO) announced today that SpePharm Holding, BV acquired the rights to Savene® for 6 million Euros. The acquisition includes all the Savene® European assets and the transition of the TopoTarget sales team in Europe to SpePharm. Totect®, the US trademark for the same product, will remain with TopoTarget and continue to be promoted by the TopoTarget US sales team.

The divestiture of Savene® in Europe and the rest of the world outside of North and South America reflects the continued focus of TopoTarget on the clinical development and commercialisation of Belinostat. The divestiture funds (5 million Euros plus the value of stock payable on settlement plus a double digit royalty on net sales capped at EU 1 million), will be used to fuel the growth of the Belinostat clinical development program for the anticipated filing and approval in the US for PTCL and to continue the development of selected high potential indications. The partnering with Spectrum in the US has increased TopoTarget’s development and marketing resources and provides TopoTarget with a strong partner to launch Belinostat.
“Belinostat, the main product of the Company, is a pipeline within a molecule with blockbuster potential on which in February we signed a deal with Spectrum Pharmaceuticals with a potential value of USD 350 million deal plus royalties. Based on our core strategy and commitment to our shareholders to focus on the development and commercialization of Belinostat for the treatment of cancer patients we have made the decision to divest the European marketing and sales of Savene” said Francois Martelet, MD, CEO of TopoTarget.

“We believe that SpePharm will continue the successful sales of Savene® as we integrate this medically important orphan drug product for the treatment of patients with anthracycline extravasations, developed and launched by the Topotarget team, into our portfolio.”, said Jean-François Labbé, Managing Director and CEO of SpePharm.

Today’s news does not change TopoTarget’s 2009 full-year financial guidance.

TopoTarget A/S
For further information, please contact:
Francois Martelet, CEO
Telephone +45 39 17 94 99