Copenhagen, Denmark - December 30, 2011 - Topotarget A/S (NASDAQ-OMX: TOPO.CO) has today announced the completion of Apricus Biosciences, Inc.'s purchase of 100% of the outstanding common stock of Topotarget A/S' American subsidiary division, Topotarget USA, Inc. The acquisition includes all Totect® North and South American assets, including the Totect® sales team, and the US trademark Totect®.

Copenhagen, 2011-12-29 18:30 CET (GLOBE NEWSWIRE) --

To NASDAQ OMX Copenhagen A/S
Announcement No. 24-11 / Copenhagen, December 30, 2011

The completion of the divestiture of Totect®follows Topotarget's latest stock exchange announcement no. 23-11 of December 16, 2011.

In connection with the completion of the transaction, Francois Martelet, CEO of Topotarget A/S, said: "We are very satisfied that the sale of Totect®to Apricus Biosciences has been successfully completed. This is an important step that will allow Topotarget to fully devote its focus on the late-stage clinical development and commercialization of belinostat."

Today's news does not change Topotarget's full-year financial guidance for 2011.

Topotarget A/S

For further information, please contact:

Francois Martelet, CEO: Direct: +45 39 17 83 43; Cell: +45 51 32 83 41

Anders Vadsholt, CFO: Direct: +45 39 17 83 45; Cell: +45 28 98 90 55


Background information

About Topotarget A/S
Topotarget (NASDAQ-OMX: TOPO.CO) is an international biopharmaceutical company headquartered in Copenhagen, Denmark, dedicated to clinical development and registration of oncology products. Topotarget focuses, in collaboration with Spectrum Pharmaceuticals, Inc., on the development in pivotal studies of its lead drug candidate, belinostat, which has shown positive results as a monotherapy treating haematological malignancies and positive results in solid tumours. Belinostat may be used in combination with full doses of chemotherapy, and is in a pivotal trial within PTCL (peripheral T-cell lymphoma). For more information, please refer to www.topotarget.com.

Topotarget A/S Safe Harbour Statement
This announcement may contain forward-looking statements, including statements about our expectations of the progression of our preclinical and clinical pipeline including the timing for commencement and completion of clinical trials and with respect to cash burn guidance. Such statements are based on management's current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Topotarget A/S cautions investors that there can be no assurance that actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors, including, but not limited to, the following: The risk that any one or more of the drug development programs of Topotarget A/S will not proceed as planned for technical, scientific or commercial reasons or due to patient enrolment issues or based on new information from non-clinical or clinical studies or from other sources; the success of competing products and technologies; technological uncertainty and product development risks; uncertainty of additional funding; Topotarget A/S' history of incurring losses and the uncertainty of achieving profitability; Topotarget A/S' stage of development as a biopharmaceutical company; government regulation; patent infringement claims against Topotarget A/S' products, processes and technologies; the ability to protect Topotarget A/S' patents and proprietary rights; uncertainties relating to commercialization rights; and product liability exposure. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law.