Success of the initial public offering of Zealand Pharma

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Paris, November 23rd, 2010 – Bryan, Garnier and Co, the independent pan-European investment bank focused on growth companies, today announces the successful closing of a c.€50 million initial public offering for Zealand Pharma.

Zealand Pharma today completed its initial public offering and listed on the NASDAQ OMX Copenhagen Stock Exchange. In the IPO, the company issued approximately 4.3 million new shares at an offer price of DKK 86 (EUR 11.5) per new share, raising gross proceeds of approximately DKK 373 (€50) million. The offering involved retail investors in Denmark as well as Danish and international institutional investors. Bryan, Garnier & Co acted as co-lead manager on this transaction.

For more information, please contact:

Christian Finan – Director – Equity Capital Markets / +33 (0)1 56 68 75 30 /

Jean-Christophe Renondin – Managing Director – Healthcare / +33 (0)1 56 68 75 04 /

About Zealand Pharma

Zealand Pharma A/S is a biotechnology company based in Copenhagen, Denmark. Zealand Pharma specializes in the discovery, optimization and development of novel peptide drugs and has a broad and mature pipeline of drug candidates identified through its own drug discovery activities. The company’s focus lies in the field of diabetes/metabolic diseases, and its lead drug invention is lixisenatide, a once-daily GLP-1 agonist, which is licensed to Sanofi for the treatment of Type 2 diabetes. Lixisenatide is currently under regulatory review in a large number of countries globally.

Zealand Pharma has a partnering strategy for the development and commercialization of its products and in addition to the collaboration with Sanofi in Type 2 diabetes, the company has partnerships with Boehringer Ingelheim in diabetes/obesity, Abbott in acute kidney injury and Helsinn Healthcare in chemotherapy induced diarrhea. Zealand Pharma focuses its activities in disease areas where existing treatments fail to adequately serve patient needs and where the market potential for improved treatments through the use of peptide drugs is high.

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