• Lead Drug FGL Found To Prevent Impaired Cognition
• R&D Update, Publication & Conference Presentation
• CHDI selects ENKAM’s compounds for preclinical tes
• Presentation at BIO-Europe
• Attendance at Conferences
• Participation at Conference
• The ENKAM approach shows potential in treatment of
• Discovery of Novel Compound Classes
• Positive Preclinical Data - Traumatic Brain Injury
• Appointment of Executive Chairman
• New Promising Treatment of Alzheimer’s Disease
• EU 6FP Grants EUR9.7 million to European Research
• Glossary

Appointment of Executive Chairman

Funding round and partnering strategy

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Copenhagen, Denmark, March 20 2006 - ENKAM Pharmaceuticals A/S, the Copenhagen-based biotechnology company focused on neurodegenerative diseases and cancer, announces today the appointment of Robert Mansfield as Executive Chairman. Robert has joined the Board of ENKAM to drive the business strategy and facilitate the commercial development of the Company’s pioneering science in neural cell adhesion molecules.

ENKAM’s portfolio includes 4 products in or approaching clinical development. FGL_L, ENKAM’s most advanced product, is targeted at Alzheimer’s disease, and has a unique pharmacological profile with the potential to modify the progression of the disease. The drug successfully completed a Phase I clinical study in 2005 and is the first compound in its class to enter the clinic. FGL_L is currently being prepared to enter Phase II clinical trials.

The Company is looking to partner its lead product, FGL_Lin advance of entering into Phase II trials.

Robert Mansfieldwas the CEO of Vernalis Group plc, the CNS and cancer specialist, for ten years, having previously held senior positions at SmithKline Beecham. In his career to date he has raised substantial funding from VCs and has a strong understanding of public markets and corporate deals. Robert has experience of taking pharmaceutical products from research to the market and is a past Chairman of the BioIndustry Association.

ENKAM has a team of 21 staff including 15 MDs and PhD scientists and was incorporated in 2000 to develop the intellectual property and pioneering work on neural cell adhesion molecules by Professors Elisabeth Bock and Vladimir Berezin from the University of Copenhagen. Four compounds have now advanced to development; three of which are targeted at neurodegenerative diseases and the fourth is a promising novel tyrosine kinase programme against cancer. Over the past 8 years the founders and the Company have filed patents and established a dominant intellectual property position in this field.

In 2004 the European Union recognised the importance of neural cell adhesion molecules in memory and learning by granting EUR 9.7 million to the PROMEMORIA consortium headed by Elisabeth Bock, a founding scientist at ENKAM.

Robert Mansfield, Executive Chairman of ENKAM Pharmaceuticals, said: “I am delighted to have joined the Board of ENKAM as Executive Chairman. I have been highly impressed by their leading position in this field, the strength of the patent estate and the quality of the data that the team has generated to date. I am particularly interested in the progress with ongoing discussions with potential partners around FGL_Land Alzheimer’s disease. This next round of funding will significantly strengthen the Company’s position enabling ENKAM to accelerate the development of these programmes.

Commenting on this announcement, Morten Albrechtsen MD, Chief Executive and a founder of ENKAM Pharmaceuticals, said:“Robert’s appointment ahead of the forthcoming financing significantly strengthens ENKAM. The Company is now moving into the next stage of its development and we expect to soon demonstrate the potential clinical benefits of these exciting new classes of compounds.”