• The 2009 guidance for the underlying continued and discontinued businesses is unchanged

• Exiqon Life Sciences is expected to be cash flow positive in 2010

• Long term financial goal of reaching profitability by 2011 with current capital is maintained.

Exiqon A/S (NASDAQ OMX Copenhagen: “EXQ”) today announced that it has started a process of divesting Oncotech, Inc., its certified CLIA laboratory operation in Tustin, California. As a result, Exiqon will recognize a non-cash loss on divestment and impairment of goodwill of approximately DKK 205 million and revises its full-year 2009 guidance accordingly. Exiqon’s diagnostic ambitions and long-term financial objective of reaching profitability by 2011 with current capital are unchanged.

The objective of the acquisition of Oncotech, Inc., which was announced in November 2007, was to accelerate the establishing of Exiqon’s diagnostic business and to set up a commercial platform for the launch of Exiqon’s miRNA-based diagnostic products. Since the acquisition, Exiqon has successfully

strengthened its product portfolio for in vitro diagnostics by adding new molecular tests, including KRAS and BRAF, and other tools to help physicians improve cancer treatment selection.

Exiqon has now decided to consolidate its ongoing development of diagnostic products based on miRNA at the company’s facilities in Denmark in order to gain operational and infrastructural efficiencies and to free up human and financial resources.

“This decision will help us focus on our core competencies in the area of miRNA and drive operational synergies between our two business areas, Diagnostics and Life Sciences”, said Lars Kongsbak, President and CEO.”

Exiqon will continue developing its programs for colon cancer recurrence, identification of cancer of unknown primary and early detection of colon cancer in serum. Exiqon has secured in excess of DKK 40 million in grants for its pipeline of diagnostic products.

“Within the Life Science area, we are seeing a robust uptake of the recently introduced product for sensitive and quantitative analysis of miRNA expression, for example in blood samples. By consolidating operations, we can free up the necessary financial resources for a continued focus on our diagnostic product development efforts,” said Lars Kongsbak.

As a consequence of the decision to divest Oncotech, Inc., Exiqon will seek partners to co-develop and commercialize its miRNA-based diagnostic products.

Revised guidance for 2009:

Following the decision to divest Oncotech, Inc., the related assets and liabilities will be classified as held for sale and will therefore be presented as a discontinued operation in the annual report 2009 unless divested before yearend. Similarly the result of the activities and the loss on divestment will

be shown as a single amount in the income statement.

The Board of Directors recognizes time as an important factor in the divestment of Oncotech, Inc., and has therefore cautiously estimated the fair value of Oncotech, Inc., less sales related costs of approximately DKK 7 million, to be DKK 0.00, which will result in a non-cash loss on divestment of approximately DKK 135 million in the fourth quarter of 2009. The estimated fair value less

costs to sell and the resulting loss on divestment is based on the assumption that no specific estimates of a sales price can be made under the current market conditions.

Impaired goodwill in the amount of DKK 70 million related to the continued operations will be recognized as non-cash loss.

The guidance for the underlying continued and discontinued businesses are unchanged.

We anticipate the guidance after reflecting the impact of the decision to divest Oncotech, Inc. including the estimated loss on divestment and impairment of goodwill on continued operations to be as follows:

BEFORE NEW

USD/DKK 5.25 USD/DKK 5.25

Exiqon Group revenue DKK 130 mill DKK 80 mill

Estimated non-cash impairment charge DKK (70 mill)

Etimated non-cash loss on divestment DKK(135 mill)

Net loss inclusive discontinued operation DKK(130 mill) DKK(335 mill)

Long-term objectives unchanged:

The annualized impact of the divestment is estimated to result in savings of approximately DKK 60 million compared to 2009, including non-cash items of approximately DKK 12 million in 2010.

Following a successful restructuring of Exiqon Life Sciences in the third quarter 2009, Exiqon Life Sciences is expected to be cash flow positive in 2010.

Exiqon therefore maintains its long term financial goal of reaching profitability by 2011 with current capital.