Research Update

Ardana PLC
19 April 2005



   ARDANA ANNOUNCES POSITIVE RESULTS IN PHASE I STUDY OF ORAL GROWTH HORMONE
                                  SECRETAGOGUE


Edinburgh, UK, 19 April 2005;  Ardana plc (LSE:ARA) the emerging pharmaceutical
company focused on the discovery, development and marketing of innovative
products to improve human reproductive health, today announces positive results
in a Phase I study of its oral Growth Hormone Secretagogue (GHS), EP1572.


EP1572 is a novel synthetic compound that is orally active and stimulates the
secretion of growth hormone (GH) from the patient's pituitary gland for the
treatment of growth hormone disorders (GHD).  Ardana licensed the compound with
exclusive worldwide rights, including the right to sub-licence, from Aeterna
Zentaris (TSX:AEZ; NASDAQ: AEZS) in 2002.


The Phase I study provides clear evidence that EP1572 is able to induce a rise
in growth hormone levels.  The open, randomised, placebo-controlled
dose-escalation study involved a total of 36 healthy male volunteers, divided
into three groups of 12 volunteers. Nine subjects in each group received a
single oral dose of EP1572 - 0.005 mg/kg in the first group, 0.05 mg/kg in the
second group and 0.5 mg/kg in the third group - with the other three subjects in
each group receiving a placebo. All subjects had been initially checked for
their ability to release growth hormone by the intravenous administration of
another hormone, growth hormone releasing hormone (GHRH).


The data show that between 1-2 hours after drug administration there was a large
increase in the levels of growth hormone in the blood without any effect on
other hormones with the mean GH value being 79.12 ng/ml at the highest dose of
EP1572 (p = 0.009), compared to 52.62 ng/ml with GHRH and 3.58 ng/ml for
placebo.  In all cases, EP1572 was well-tolerated and no adverse events were
reported.


EP1572 is the only orally active growth hormone in development and this presents
a major competitive advantage in terms of ease and convenience of delivery,
particularly in the treatment of children.  Current treatment is only via
injectable delivery.


Additional studies are on-going and in-line with the company's business
strategy, Ardana intends to seek a partner to accelerate development of EP1572
for GHD and the more significant marketing opportunity of cachexia (muscle
wasting) associated with chronic disease, maintaining its focus on reproductive
health.  In 2004 the global growth hormone market was estimated to be worth $2.3
billion (source: Wood Mackenzie's ProductView December 2004).


Enquiries


Ardana plc                                               [phone]
Maureen Lindsay, Chief Executive Officer


Financial Dynamics                                      [phone]
Julia Phillips
Davina Langdale


About Ardana


Ardana plc is a pharmaceutical company focused on the discovery, development and
marketing of innovative products to improve human reproductive health, a $23.8
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 four lead products are summarised below:


  • *StriantTM SR, a testosterone replacement therapy that has already been
     launched by Ardana through its own sales force in the UK as a treatment for
     men with hypogonadism;

  • **Teverelix LA, in development for three initial indications (prostate
      cancer, BPH and endometriosis);

  • **Testo Bi-gel, a trans dermal testosterone delivery system in development
      for the treatment of male hypogonadism, shortly to enter Phase II trials;

  • *Invicorp, an injectable combination of drug treatment for erectile
     dysfunction, for which Ardana has marketing and manufacturing rights in
     Europe.


*In-licensed products

** Acquired by Ardana

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

Ardana completed its IPO on the London Stock Exchange in March 2005 raising £21
million.

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


                      This information is provided by RNS
            The company news service from the London Stock Exchange