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ALGETA REPORTS HRPC STUDY DATA

February 27, 2006

Algeta has announced that an analysis of the biomarker data from a Phase II trial of its lead product Alpharadin (radium-223) continues to demonstrate its potential as a treatment for bone metastases in hormone-refractory prostate cancer (HRPC) patients.

The company is conducting trial BC1-02 as part of its Phase II clinical program for Alpharadin, a novel radiopharmaceutical based on the alpha particle emitter radium-223, which naturally targets and attacks skeletal metastases. The double-blind placebo-controlled trial involves 64 patients with painful skeletal metastases as a consequence of HRPC and is in its follow-up phase at 11 centers in Norway, Sweden and the UK. The trial was fully enrolled in May 2005.