Oslo, Norway, 30 May 2013 - Algeta ASA (OSE: ALGETA) announces that Xofigo® (radium Ra 223 dichloride) injection, recently approved by the US Food and Drug Administration (FDA) for the treatment of patients with castration-resistant prostate cancer, symptomatic bone metastases and no known visceral metastatic disease, has been launched in the United States and the first sale has been made.

The first commercial sale of Xofigo triggers a EUR 50 million milestone payment to Algeta from Bayer under the terms of the 2009 development and licensing agreement. Bayer has worldwide exclusive marketing rights for Xofigo. Algeta US, LLC and Bayer Healthcare are co-promoting the product in the US.

Algeta's President & CEO, Andrew Kay, commented: "We are delighted to announce the first sale of Xofigo, following its approval by the FDA. The development of bone metastases is a frequent consequence in men with castration-resistant prostate cancer, and is a major cause of disability and death in this disease. These patients have limited therapeutic options and we anticipate that Xofigo will be an important and welcome new addition to the treatment paradigm."

About Xofigo® (radium Ra 223 dichloride)

Xofigo is indicated for the treatment of patients with castration-resistant prostate cancer, symptomatic bone metastases and no known visceral metastatic disease.

Xofigo is an alpha particle-emitting radioactive therapeutic agent with an anti-tumor effect on bone metastases. The active ingredient in Xofigo is the alpha particle-emitting isotope radium 223, which mimics calcium and forms complexes with the bone mineral hydroxyapatite at areas of increased bone turnover, such as bone metastases. The high linear energy transfer of Xofigo may cause double-strand DNA breaks in adjacent cells, resulting in an anti-tumor effect on bone metastases. The alpha particle range from radium 223 dichloride is less than 100 micrometers which may limit the damage to the surrounding normal tissue.

In September 2009, Algeta signed an agreement with Bayer for the development and commercialization of Xofigo. Under the terms of the agreement, Bayer will develop, apply for health authority approvals worldwide and commercialize Xofigo globally. Algeta US, LLC is co-promoting Xofigo with Bayer in the US.

For full prescribing information visit www.xofigo-us.com.  

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Xofigo® is a registered trademark of Bayer

For further information, please contact:

Mike Booth / Renate Birkeli +47 23 00 67 32
Communications & Corporate Affairs ir@algeta.com
Media enquiries:
Mark Swallow +44 207 638 9571
Citigate Dewe Rogerson mark.swallow@citigatedr.co.uk
Knut Ekern +47 22 04 82 00
Gambit Hill & Knowlton knut.ekern@hkstrategies.com
US investor enquiries:
Tricia Swanson +1 646 378 2953
The Trout Group tswanson@troutgroup.com

About Algeta

Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. The Company is headquartered in Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA performing commercial marketing operations in the US. Algeta is listed on the Oslo Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Forward-looking Statements

This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Algeta. Such forward-looking statements reflect our current views and are based on the information currently available to Algeta. Algeta cannot give any assurance as to whether such forward looking statements will prove to be correct. These forward looking statements include statements regarding our co-promotion of Xofigo in the US.  There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, risks or uncertainties associated with the ability to identify and hire a sufficient number of qualified employees in the US, growth management, general economic and business conditions and the pricing environment, the impact of competition, the ability to successfully commercialize Xofigo, the risk that costs associated with the co-promotion of Xofigo may be greater than anticipated, manufacturing capacity, the risk of non-approval of patents not yet granted, risks in obtaining additional regulatory approvals for radium 223 and the other risks and uncertainties described in our annual report.

 XOFIGO Prescribing information. May 2013

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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