Interim Management Statement

Ardana PLC
10 August 2007



ARDANA: INTERIM MANAGEMENT STATEMENT - THREE MONTHS ENDED 30 JUNE 2007


Edinburgh, UK, 10 August, 2007: Ardana plc (LSE: ARA), the emerging
pharmaceutical company focused on the discovery, development and marketing of
innovative products to improve human reproductive health, is today issuing its
first Interim Management Statement ('IMS').  This IMS has been produced solely
to provide additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure and Transparency Rules.
It should not be relied upon by any other party or for any other purpose.

This IMS relates to the three month period from 1 April 2007 to 30 June 2007 and
contains information that covers this period and the period from 1 July 2007 up
to the publication of this IMS ('the period'), unless otherwise specified.

There have been no material events and transactions during the period.  There
have been no significant changes in the financial position or financial
performance of the Company since the publication of the Annual Report in respect
of the year ended 31 March 2007.

Revenues from the sale of our marketed products, Striant(TM) SR, Invicorp(TM)
and Emselex(R) are growing but are not considered material to the results of the
business at present.  The Scottish Medicines Consortium gave Emselex(R) a
positive opinion as a once a day oral treatment for the symptomatic treatment of
overactive bladder; an important milestone for the product.

We continue to invest in our product development pipeline in which our product
candidates continue to advance to plan.  In particular, a Phase III study for
Testosterone Cream, our transdermal delivery of testosterone for the treatment
of male hypogonadism, has commenced and recruitment is ongoing at ten sites in
the USA.  Sites have been initiated in a pivotal registration study of our oral
formulation of a growth hormone secretagogue (GHS), for the diagnosis of growth
hormone deficiency.  Further Phase II studies for Teverelix LA in prostate
cancer and benign prostatic hyperplasia (BPH) are ongoing.  We expect to report
data from all these studies by the end of 2007.

We continue to hold discussions with potential partners on collaboration for
Teverelix LA and concluding these negotiations remains management's top
priority.

Net cash used by operating activities in the business for the three month period
to 30 June 2007 was £3.5 million (three months to 30 June 2006: £3.3 million).

Cash and cash equivalents as at 30 June 2007 was £13.3 million (30 June 2006:
£16.3 million).


Chief Executive's comments

Maureen Lindsay, Chief Executive said 'We are pleased with the progress of our
compounds in development; all development programmes are proceeding in
accordance with our expectations and as outlined in our last Annual Report.  We
continue to add value to our key development assets which we believe will have
significant commercial advantages in their respective markets.  Ardana is
gathering momentum on all fronts.'


For more information contact:

Ardana                                                  Financial Dynamics
Maureen Lindsay                                         Julia Phillips
Tel: + 44 (0) 131 226 8550                              John Gilbert
                                                        Tel: [phone]


About Ardana

Ardana plc is a pharmaceutical company focused on the discovery, development and
marketing of innovative products to improve human reproductive health, a $25.5
billion market.

Since its foundation, Ardana has maintained a broad and balanced portfolio to
manage risk and actively pursues product and technology in-licensing and
outlicensing to maintain a robust pipeline.

Ardana's lead products are summarised below:

  • Emselex(R), a once a day treatment for the symptoms of overactive bladder
    syndrome which Ardana has exclusive UK marketing and promotion rights and is
    being distributed in collaboration with Novartis UK Limited;
  • Striant(TM) SR, a testosterone replacement therapy that has been launched by
    Ardana through its own sales force in the UK and through marketing partners
    in certain European countries, as a treatment for men with confirmed
    hypogonadism;
  • Teverelix LA, in phase II development for two initial indications
    (prostate cancer and benign prostatic hyperplasia) and phase I development
    for endometriosis;
  • Testosterone Cream, a trans dermal testosterone delivery system in phase
    III development for the treatment of male hypogonadism and phase I
    development for a female indication;
  • InvicorpTM, an injectable combination drug treatment for erectile
    dysfunction, for which Ardana has marketing and manufacturing rights in
    Europe.
  • ARD-07 an oral growth hormone secretagogue in late stage development for
    the diagnosis of hormone deficiency.

In addition, Ardana has a strong portfolio of follow-on products in development.

Ardana is listed on the Main Market of the London Stock Exchange with ticker
symbol ARA-L.


For further information please see www.ardana.co.uk



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