Santaris Pharma A/S Announces Expanded Worldwide Strategic Alliance With Pfizer Inc. Directed to Development of RNA-targeted Medicines

Pfizer to make payment of $14 million for access to Santaris Pharma A/S Locked Nucleic Acid (LNA) Drug Platform to develop RNA-targeted drugs

HOERSHOLM, Denmark and SAN DIEGO, January 4, 2011 - Santaris Pharma A/S, a clinical-stage biopharmaceutical company focused
on the research and development of mRNA and microRNA targeted therapies, and
Pfizer Inc. (NYSE: PFE), today announced that the companies have expanded
their collaboration directed to the development and commercialization of RNA-
targeted medicines using Santaris Pharma A/S Locked Nucleic Acid (LNA) Drug
Platform.

Under the terms of the expanded agreement, Pfizer will make a payment of
$14 million for access to Santaris Pharma A/S LNA technology for the
development of RNA-targeted drugs. Santaris Pharma A/S is eligible to receive
milestone payments of up to $600 million as well as royalties on sales of
products that may be developed for up to 10 new RNA targets selected by
Pfizer.

The newly expanded alliance builds on the original collaboration formed
in January 2009 between Santaris Pharma A/S and Wyeth, which was acquired by
Pfizer Inc. Under the terms of the original collaboration, Santaris Pharma
A/S received an upfront payment of $7 million in cash and Wyeth made a $10
million equity investment in Santaris Pharma A/S. Santaris Pharma A/S
continues to be eligible to receive milestones and royalties under the
original alliance. Pfizer has advanced several programs under the original
collaboration and reached a number of early milestones since the inception of
the collaboration.

"The expansion of our collaboration with Santaris Pharma A/S demonstrates
our strategic intention to partner with innovative biopharm/biotech companies
to explore novel drug design technologies as a potential source for
breakthrough therapeutics," said Mikael Dolsten, President of Worldwide
Research and Development at Pfizer. He added, "We have been encouraged by the
progress of our oligonucleotide collaboration with Santaris Pharma and are
eager to explore this expanded partnership for potential additional LNA-based
drug projects."

The Santaris Pharma A/S LNA Drug Platform is the only RNA technology with
both mRNA and microRNA targeted drugs in clinical trials, demonstrating the
broad utility of the proprietary platform. The unique combination of small
size and high affinity achievable with Santaris Pharma A/S LNA technology
allows LNA-based drugs to potently and specifically inhibit RNA targets in
different tissues without the need for complex delivery vehicles.

"The expanded alliance with Pfizer is a result of our successful
collaboration over the last two years and provides further evidence that our
LNA Drug Platform is rapidly becoming the technology-of-choice for partners
interested in developing RNA-targeted medicines," said Soeren Tulstrup,
President and CEO of Santaris Pharma A/S. "The LNA Drug Platform is well
positioned to deliver viable drug candidates today, and we are excited to
expand our relationship with Pfizer to pursue our goal of making RNA-targeted
drugs for important diseases a reality."

RNA-targeted drugs are a promising new class of therapeutics that are
enabling scientists to develop drugs to work through targets thought to be
inaccessible to small molecules and monoclonal antibodies. Typically,
RNA-targeted therapies come in two varieties: (i) single-stranded approaches
often referred to as "antisense"; and (ii) double-stranded approaches often
referred to as "siRNA". The LNA Drug Platform utilizing Santaris Pharma A/S
proprietary single-stranded LNA chemistry may provide the key to delivering
on the promise of RNA-targeted therapies today by overcoming the limitation
of earlier antisense and siRNA technologies.

About Locked Nucleic Acid (LNA) Drug Platform

The LNA Drug Platform and Drug Discovery Engine developed by Santaris
Pharma A/S combines the Company's proprietary LNA chemistry with its highly
specialized and targeted drug development capabilities to rapidly deliver
LNA-based drug candidates against RNA targets, both mRNA and microRNA, for a
range of diseases including metabolic disorders, infectious and inflammatory
diseases, cancer and rare genetic disorders. LNA-based drugs are a promising
new class of therapeutics that are enabling scientists to develop drug
candidates to work through previously inaccessible clinical pathways. The LNA
Drug Platform overcomes the limitations of earlier antisense and siRNA
technologies to deliver potent single-stranded LNA-based drug candidates
across a multitude of disease states. The unique combination of small size
and very high affinity allows this new class of drugs candidates to potently
and specifically inhibit RNA targets in many different tissues without the
need for complex delivery vehicles. The most important features of LNA-based
drugs include excellent specificity providing optimal targeting; increased
affinity to targets providing improved potency; and favorable pharmacokinetic
and tissue-penetrating properties that allow systemic delivery of these drugs
without complex and potentially troublesome delivery vehicles.

About Santaris Pharma A/S

Santaris Pharma A/S is a privately held clinical-stage biopharmaceutical
company focused on the discovery and development of RNA-targeted therapies.
The Locked Nucleic Acid (LNA) Drug Platform and Drug Discovery Engine
developed by Santaris Pharma A/S combine the Company's proprietary LNA
chemistry with its highly specialized and targeted drug development
capabilities to rapidly deliver potent single-stranded LNA-based drug
candidates across a multitude of disease states. The Company's research and
development activities focus on infectious diseases and metabolic disorders,
while partnerships with major pharmaceutical companies include a range of
therapeutic areas including cancer, cardiovascular disease, infectious and
inflammatory diseases, and rare genetic disorders. The Company has strategic
partnerships with miRagen Therapeutics, Shire plc, Pfizer, GlaxoSmithKline,
and Enzon Pharmaceuticals. As part of its broad patent estate, the Company
holds exclusive worldwide rights to all therapeutic uses of LNA. Santaris
Pharma A/S, founded in 2003, is headquartered in Denmark with operations in
the United States. Please visit www.santaris.com for more information.

Navjot Rai, Director, Global Communications of Santaris Pharma A/S, +1-858-764-7064, ext. 206, cell, +1-619-723-5450, navjot.rai at santaris.com