Ardana PLC 09 November 2005 ARDANA SIGNS AGREEMENT WITH PHARMACURO TO MARKET STRIANT(TM) SR IN THE NORDIC REGION Edinburgh, UK, 9 November 2005; Ardana plc (LSE:ARA) the emerging pharmaceutical company focused on improving human reproductive health, today announces that it has signed an agreement under which Ardana grants Pharmacuro ApS exclusive rights to market StriantTM SR, Ardana's testosterone replacement therapy for male hypogonadism, in the Nordic region. StriantTM 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. StriantTM 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 StriantTM SR in the Nordic market in H1 2006. Financial terms were not disclosed. Today's announcement follows Ardana's German marketing contract for StriantTM 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 StriantTM SR. Pharmacuro is well positioned to address our target customer base and we anticipate a strong contribution from our experienced, fast moving Nordic partner." For more information contact: Ardana Financial Dynamics Maureen Lindsay (corporate/financial media relations) Tel: + 44 (0) 131 226 8550 Julia Phillips/Davina Langdale Tel: +44 (0)20 7831 3113 NB Public Relations (trade/technical media relations) Nicki Brimicombe Tel: + 44 (0)1883 732353 About Ardana Ardana plc is a pharmaceutical company focused on the discovery, development and marketing of innovative products to improve human reproductive health, a $23.8 billion market. Since its foundation, Ardana has maintained a broad and balanced portfolio to manage risk and actively pursues product and technology in-licensing and out-licensing to maintain a robust pipeline. Ardana's four lead products are summarised below: • StriantTM SR, a testosterone replacement therapy for which Ardana has marketing rights in Europe, has already been launched by Ardana through its own sales force in the UK as a treatment for men with hypogonadism • Teverelix LA, in development for three initial indications (prostate cancer in phase II, benign prostatic hyperplasia in phase II and endometriosis in phase I) • Testo Cream, a trans dermal testosterone delivery system in phase II for the treatment of male hypogonadism • Invicorp(R), an injectable combination drug treatment for erectile dysfunction, already approved in Denmark and for which Ardana has marketing and manufacturing rights in Europe. Launch is expected in H2 2006 In addition, Ardana has a strong portfolio of follow-on products in development. Ardana completed its IPO on the London Stock Exchange in March 2005 raising £21 million. For further information please see www.ardana.co.uk About Pharmacuro Pharmacuro was established in 2003, based in Denmark and has a sales force covering Denmark, Sweden, Norway and Finland. The company operates in the Nordic region and seeks partnerships with other companies to in-licence products in areas of unmet medical need. The company has identified Endocrinology and Urology as key therapeutic areas and is already building a product portfolio in Diabetes. This information is provided by RNS The company news service from the London Stock Exchange