EpiTherapeutics and Abbott Enter Into Oncology Collaboration on Epigenetic Targets

By Abbott, PRNE
Sunday, December 19, 2010

ABBOTT PARK, Illinois and COPENHAGEN, Denmark, December 20, 2010 - EpiTherapeutics and Abbott (NYSE: ABT) today announced a collaboration
agreement to develop new anti-cancer drugs by making small-molecule
inhibitors against selected epigenetic oncology targets. Under the terms of
the agreement EpiTherapeutics receives an up-front payment and will receive
funding of research activities at EpiTherapeutics. Further, EpiTherapeutics
is eligible, under certain conditions, to receive milestone payments as well
as potential royalties on future revenues. Additional financial details were
not disclosed.

The collaboration agreement runs for three years. Research activities
will be conducted at both EpiTherapeutics and Abbott.

Dr. Martin Bonde, CEO of EpiTherapeutics, commented: "We are very pleased
with our drug discovery collaboration with Abbott, who brings tremendous
expertise in the oncology field. Abbott's choice of EpiTherapeutics as a
collaboration partner is recognition of our competencies within epigenetic
biology and early drug discovery. We look forward to a fruitful collaboration
with the aim of developing new anti-cancer drugs within the promising new
area of epigenetics."

James Sullivan, Ph.D., vice president, Pharmaceuticals Discovery, Abbott,
said: "Abbott's oncology research is focused on the discovery and development
of targeted, less toxic therapies that work against the processes cancers
need to survive. The varied nature of the cancer requires a diverse approach
looking at multiple disease targets in different tumor types and we look
forward to working with EpiTherapeutics to accelerate our development of new
anti-cancer drugs."

Epigenetics is the study of inherited changes driven by the differential
expression of genes through mechanisms other than changes in the underlying
DNA sequence. Cancer epigenetics is a rapidly emerging research area with
potential to help find new treatments for patients by modifying DNA and
chromatin, both of which play a role in tumor development.

About EpiTherapeutics

EpiTherapeutics is a biopharmaceutical company developing novel
innovative cancer drugs based on world leading research in the field of
epigenetics. The company was founded in October 2008 by Professor Kristian
and colleagues from BRIC (Biotech Research and Innovation Centre) at
the University of Copenhagen, Denmark. Professor Helin and his research group
are considered among the world leaders in the field of basic oncology
research and involved in the discovery of various epigenetic enzymes as well
as their role in human diseases, including oncology. EpiTherapeutics has a
strong investor base consisting of Novo Seeds, SEED Capital Denmark,
Lundbeckfond Ventures, OSI Pharmaceuticals and Merck Serono Ventures. For
more information, please visit www.epitherapeutics.dk

About Abbott

Abbott is a global, broad-based health care company devoted to the
discovery, development, manufacture and marketing of pharmaceuticals and
medical products, including nutritionals, devices and diagnostics. The
company employs nearly 90,000 people and markets its products in more than
130 countries.

Abbott's news releases and other information are available on the
company's website at www.abbott.com.

Martin Bonde, Ph.D., B.Comm., CEO of EpiTherapeutics ApS, Cell, +45-2025-3560, mb at epitherapeutics.dk; or Tracy Sorrentino of Abbott, +1-847-937-8712, tracy.sorrentino at abbott.com

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