New Milestone Payment Received From H. Lundbeck A/S Alone The Clinical Development Of Novel Dopaminergic Agent

[Groningen, NL. Oct 30, 2009] Axon Biochemicals BV, The Netherlands (refer to Axon) announced today that new milestone payment has been received from H. Lunbbeck A/S alone clinical trials of a novel dopaminergic Agents with potential in the treatment of Parkinson's Disease (PD).

Axon is a small medicinal chemistry company with a unique expertise within the dopaminergic field. Axon, with its drug discovery research led by Prof Hakan Wikstrom, has been in close collaboration with University of Groningen and Lundbeck to develop novel dopaminegeic agents leading to the discovery of LU 02-750.

Lundbeck has initiated Phase I clinical trials of LU 02-750 in order to investigate safety, tolerability and the pharmacokinetic profile of the drug in humans. Read more at Lundbeck PRESS RELEASE: Novel Agent For Treatment Of Parkinson's Disease - Lu 02-750 - Enters Lundbeck's Development Pipeline. This news has been widely reported in media such as Wall Street Journal on Oct 30, 2009.

About Axon

Axon is a medicinal chemistry company, incorporated in the Netherlands in 1999. Axon conducts research in developing novel drug candidates in the CNS field and has invested for self-owned intellectual properties such as patents at national phase. Together with EU, government institutions, and pharmaceutical companies, Axon is now actively involved in several drug discovery programs from pre-clinic to Phase I. Axon is also an independent contract research organization providing high quality services in medicinal chemistry research. The company is specifically involved in rapid synthesis of drug standards and in contract research on drug design and synthesis. The company, with its experienced medicinal chemists in front-line drug research, offers the power of outsourcing research to the pharmaceutical companies in the world.