Press Release

Press Release.

• New treatment for castration-resistant prostate cancer (CRPC) patients with bone metastases

• Xofigo shown in a pivotal phase III trial to significantly improve overall survival

• Algeta to host international conference call scheduled for tomorrow at 08:00 CET – details below

Oslo, Norway, 15 May 2013 – Algeta ASA (OSE: ALGETA) announces that the US Food and Drug Administration (FDA) has approved Xofigo® (radium-223 dichloride) injection for the treatment of patients with castration-resistant prostate cancer, symptomatic bone metastases and no known visceral metastatic disease. Xofigo is the first alpha particle-emitting radioactive therapeutic agent approved by the FDA, that has demonstrated improvement in overall survival (OS) and delay in time to first symptomatic skeletal event (SSE) compared to placebo, as shown in the pivotal phase III ALSYMPCA trial.

The commercial production of Xofigo is underway, and first doses are expected to be ready for patient treatment within a few weeks. Bayer has worldwide exclusive marketing rights for Xofigo. Algeta US, LLC and Bayer Healthcare will co-promote the product in the US.

Andrew Kay, Algeta’s President & CEO, said:

“We are delighted that the FDA has taken the decision to approve Xofigo so quickly. We are extremely pleased to be able to make this alpha particle-emitting pharmaceutical available to US patients with castration-resistant prostate cancer and symptomatic bone metastases. We will now finalize our launch preparations for Xofigo in the US, with the intention of launching it, with Bayer, as soon as possible. This approval is a major milestone for Algeta and puts us firmly on the path to deliver on our vision to be a world-class oncology company bringing novel targeted medicines to cancer patients through our leadership in alpha particle-emitting pharmaceuticals.”

“The development of bone metastases is a frequent consequence of advanced prostate cancer, and a major cause of disability and death in this disease,”

said Dr Chris Parker, Principal Investigator for the pivotal ALSYMPCA trial, from the Royal Marsden Hospital and Institute of Cancer Research (London, UK).

“Xofigo will be an important and welcome addition to the treatment regimes that are used for the treatment of this cancer.”

Bone is the most common site in the body to be affected by metastatic cancer and bone metastases are particularly prevalent in patients with prostate cancer. Approximately 90% of patients with metastatic prostate cancer show evidence of bone metastases. Bone metastases can lead to an increase in frequency of skeletal events. In addition, bone metastases have been shown to be the main cause of morbidity and death in patients with CRPC.

Efficacy and Safety Data Supporting Xofigo® Approval

The approval of Xofigo (radium-223 dichloride, radium-223) is based on data from the pivotal phase III ALSYMPCA (ALpharadin in SYMptomatic Prostate CAncer) trial. At the interim analysis, radium-223 significantly improved overall survival (OS) [HR=0.695

(95% CI 0.552-0.875), p=0.00185]; median OS was 14.0 months with radium-223 plus best standard of care vs. 11.2 months with placebo plus best standard of care. Additionally, at the interim analysis there was a delay in the time to first symptomatic skeletal event (SSE) for patients treated with radium-223 vs. placebo.

An updated analysis, conducted after the study was unblinded, showed a further improvement in overall survival (OS) for patients treated with radium-223 vs. placebo, with a median OS of 14.9 months vs. 11.3 months; HR=0.695 (95% CI 0.581-0.832).
The most common adverse reactions (greater than or equal to 10%) in patients receiving radium-223 were nausea, diarrhea, vomiting and peripheral edema. The most common hematologic laboratory abnormalities (greater than or equal to 10%) of radium-223-treated patients were anemia, lymphocytopenia, leukopenia, thrombocytopenia and neutropenia.

About Xofigo® (radium-223 dichloride)

Xofigo® with the active ingredient radium-223 dichloride (radium-223) is an alpha particle-emitting radioactive therapeutic agent with an anti-tumor effect on bone metastases. Radium-223 mimics calcium and forms complexes with the bone mineral hydroxyapatite at areas of increased bone turnover, such as bone metastases. The high linear energy transfer of alpha emitters may cause double-strand DNA breaks in adjacent cells, resulting in an anti-tumor effect on bone metastases. The alpha particle range from radium-223 is less than 100 micrometers which may limit the damage to the surrounding normal tissue.

In September 2009, Algeta signed an agreement with Bayer for the development and commercialization of radium-223. Under the terms of the agreement, Bayer will develop, apply for health authority approvals worldwide and commercialize radium- 223 globally. Algeta US, LLC will co-promote radium-223 with Bayer in the US.

Radium-223 is currently not approved by the European Medicines Agency (EMA) or other authorities outside the US. Bayer submitted a Marketing Authorization Application to the EMA for radium-223 in December 2012 for the treatment of CRPC patients with bone metastases.

For full prescribing information visit www.xofigo-us.com

About the ALSYMPCA Trial

The ALSYMPCA trial was a phase III, randomized, double-blind, placebo-controlled international study comparing radium-223 dichloride vs. placebo in symptomatic CRPC patients with bone metastases treated with best standard of care compared with placebo plus best standard of care. The trial enrolled 921 patients in more than 100 centers in 19 countries. The study treatment consisted of up to six intravenous injections of radium-223 or placebo each separated by an interval of four weeks.
The primary endpoint of the study was overall survival (OS). A key secondary endpoint was time to first symptomatic skeletal event (SSE), as defined as external beam radiation therapy (EBRT) to relieve skeletal symptoms, new symptomatic pathologic bone fracture, occurrence of spinal cord compression, or tumor-related orthopedic surgical intervention.

About CRPC and Bone Metastases

Prostate cancer is the most common non-cutaneous malignancy in men worldwide. In 2008, an estimated 899,000 men were diagnosed with prostate cancer and 258,000 died from the disease worldwide. Prostate cancer is the sixth leading cause of death from cancer in men.

A majority of men with CRPC have radiological evidence of bone metastases. Once the cancer cells settle in the bone, they interfere with bone strength, often leading to pain, fracture and other complications that can significantly impair a man’s health. Bone metastases secondary to prostate cancer typically target the lumbar spine, vertebrae and pelvis. In fact, bone metastases are the main cause of morbidity and death in patients with CRPC.

About the Patient Assistance Program

Bayer and Algeta offer patient assistance through Xofigo Access ServicesSM which will assist with obtaining coverage and patient support of Xofigo. Patients and providers may contact the program at 1-855-6XOFIGO (1-855-696-3446) for additional information.

Details of international conference call

A conference call for investors, analysts and the press, and hosted by Algeta’s senior management team, will take place tomorrow at 08:00 CET. To participate in the conference call, please dial the appropriate number below five minutes prior to the call:

US: +1 866 966 5335
UK: +44 20 3003 2666 (toll free 0808 109 0700)
Norway: +47 21 56 33 18 (toll free 800 19 457)

Password: Algeta

—-

To access the replay (available for seven days), please dial:

US: +1 866 583 1035
UK: +44 20 8196 1998
Norway: toll free 800 19 101

Participant pin code: 9227182

###

For further information, please contact: Mike Booth     +47 2202 4510
Communications & Corporate Affairs     ir@algeta.com

Media enquiries:

Mark Swallow     +44 207 638 9571
Citigate Dewe Rogerson     mark.swallow@citigatedr.co.uk

Knut Ekern     +47 22 04 82 00
Gambit Hill & Knowlton     knut.ekern@hkstrategies.com

US investor enquiries:

Tricia Swanson     +1 646 378 2953
The Trout Group     tswanson@troutgroup.com

About Algeta

Algeta is a company focused on developing novel targeted therapies for patients with
cancer based on its alpha-pharmaceutical platform. The Company is headquartered in
Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA
performing commercial marketing operations in the US. Algeta is listed on the Oslo
Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Forward-looking Statements

This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Algeta. Such forward-looking statements reflect our current views and are based on the information currently available to Algeta. Algeta cannot give any assurance as to whether such forward looking statements will prove to be correct. These forward looking statements include statements regarding our anticipated co-promotion of Xofigo in the US. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, risks or uncertainties associated with the ability to identify and hire a sufficient number of qualified employees in the US, growth management, general economic and business conditions and the pricing environment, the impact of competition, the ability to successfully commercialize Xofigo, the risk that costs associated with the copromotion of Xofigo may be greater than anticipated, manufacturing capacity, the risk of non-approval of patents not yet granted, risks in obtaining additional regulatory approvals for radium-223 and the other risks and uncertainties described in our annual report.

Xofigo® is a registered trademark of Bayer.

Xofigo Access ServicesSM is a service mark of Bayer.

Press Release.

Oslo, Norway, 14 December 2012 – Algeta ASA (OSE: ALGETA) announces
that Bayer has submitted a New Drug Application (NDA) to the US Food and
Drug Administration (FDA) for radium-223 dichloride (radium-223) for the
treatment of castration-resistant prostate cancer (CRPC) patients with bone
metastases.

“Algeta has made significant progress during 2012 across all areas of its business and
the submissions by Bayer for marketing approval of radium-223 in both Europe and
now the US are great achievements on which to conclude the year,”

said Andrew Kay,Algeta’s President & CEO.

“Meanwhile, we continue to make significant investments in building our commercial operations in the US and we look forward, if approved, to copromoting this novel product for CRPC patients with bone metastases in this important market.”

Bayer submitted a Marketing Authorization Application (MAA) to the European
Medicines Agency (EMA) on 12 December 2012 for radium-223 for the treatment of
castration-resistant prostate cancer (CRPC) patients with bone metastases. Under the terms of the 2009 agreement with Bayer, the first complete submission for marketing approval triggers a €50 million milestone payment from Bayer to Algeta.

“This submission of radium-223 for the treatment of men with CRPC that has
metastasized to the bone brings us closer to a new treatment option for patients in the US dealing with this advanced form of cancer,”

said Kemal Malik, MD, Member of the Bayer HealthCare Executive Committee and Head of Global Development.

“We are looking forward to continuing discussions with the regulatory authorities to bring this innovative treatment option to patients as quickly as we can.”

The submission is based on data from the pivotal phase III ALSYMPCA (ALpharadin in
SYMptomatic Prostate CAncer) trial, which was conducted by Algeta. In the study,
radium-223 significantly increased overall survival by 44 percent (HR=0.695,
p=0.00007), resulting in a 30.5 percent reduction in the risk of death compared to
placebo. The median overall survival (OS) benefit in patients with radium-223 was 3.6
months, based on 14.9 months OS with radium-223 plus best standard of care (BSoC) vs. 11.3 months with placebo plus BSoC. These updated results were presented at the 48th Annual Meeting of the American Society of Clinical Oncology (ASCO) in June 2012.

The most common hematologic adverse events for patients treated with radium-223
and best standard of care (BSoC) and compared to placebo and BSoC included anemia (31% vs. 31%), neutropenia (5% vs. 1%) and thrombocytopenia (12% vs. 6%). With respect to Grade 3 and 4 adverse events, the most common events included anemia (13% vs. 13%), neutropenia (2% vs. 1%) and thrombocytopenia (6% vs. 2%). The most common non-hematologic adverse events in patients treated with radium-223 and BSoC compared to placebo and BSoC included bone pain (50% vs. 62%), nausea (36% vs. 35%), diarrhea (25% vs. 15%) and vomiting (19% vs. 14%). With respect to Grade 3 to 4 adverse events, the most common events included bone pain (21% vs. 26%).

About the ALSYMPCA Trial
The ALSYMPCA trial was a phase III, randomized, double-blind, placebo-controlled
international study comparing radium-223 dichloride vs. placebo in symptomatic CRPC
patients with bone metastases treated with BSoC compared with placebo plus BSoC.
The trial enrolled 921 patients in more than 100 centers in 19 countries The study
treatment consisted of up to six intravenous administrations of radium-223 or placebo
each separated by an interval of four weeks.

The primary endpoint of the study was overall survival. Secondary endpoints included
time to occurrence of skeletal related events (SRE), changes and time to progression
in PSA and ALP, safety, and impact on quality of life measures.

About CRPC and Bone Metastases
Prostate cancer is the most common non-cutaneous malignancy in men worldwide. In
2008, an estimated 899,000 men were diagnosed with prostate cancer and 258,000
died from the disease worldwide. Prostate cancer is the sixth leading cause of death
from cancer in men.
A majority of men with CRPC have radiological evidence of bone metastases. Once the cancer cells settle in the bone, they interfere with bone strength, often leading to pain, fracture and other complications that can significantly impair a man’s health. Bone metastases secondary to prostate cancer typically target the lumbar spine, vertebrae and pelvis. In fact, bone metastases are the main cause of morbidity and death in patients with CRPC.

About Radium-223 Dichloride
Radium-223 dichloride (radium-223), formerly referred to as Alpharadin, is a
therapeutic alpha particle-emitting pharmaceutical with targeted anti-tumor effect on
bone metastases in development for CRPC patients with bone metastases.
In September 2009, Algeta signed an agreement with Bayer Pharma AG (Berlin,
Germany) for the development and commercialization of radium-223. Under the terms of the agreement, Bayer will develop, apply for global health authority approvals, and commercialize radium-223 globally. Algeta will co-promote radium-223 with Bayer in the US, and is eligible for milestones as well as royalties on Bayer’s sales outside the US. The ALSYMPCA trial was initiated by Algeta in June 2008.
Radium-223 is an investigational agent and is not approved by the European
Medicines Agency (EMA), the US Food and Drug Administration (FDA), or other health authorities.

In terms of further development activities for radium-223, Bayer intends to conduct
studies in earlier settings of prostate cancer, including combination studies with other
agents, as well as exploratory studies in other tumors such as breast cancer and
osteosarcoma.

###

About Algeta
Algeta is a company focused on developing novel targeted therapies for patients with
cancer based on its alpha-pharmaceutical platform. The Company is headquartered in
Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA
performing commercial marketing operations in the US. Algeta is listed on the Oslo
Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Forward-looking Statements
This news release contains certain forward-looking statements that are based on
uncertainty, as they relate to events and depend on circumstances that will occur in
the future and which, by their nature, may have an impact on results of operations
and the financial condition of Algeta. Such forward-looking statements reflect our
current views and are based on the information currently available to Algeta. Algeta
cannot give any assurance as to whether such forward looking statements will prove
to be correct. These forward looking statements include statements regarding the
receipt of milestone payments, the build out of our US commercial organization and
future development activities. There are a number of factors that could cause actual
results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, risks or
uncertainties associated with the success of future clinical trials, the ability to identify
and hire a sufficient number of qualified employees for the US field force, growth
management, general economic and business conditions and the pricing environment,
the impact of competition, the ability to successfully commercialize radium-223 and
our other products, the risk that costs associated with the co-promotion of radium-223may be greater than anticipated, the risk that research & development will not yield new products that achieve commercial success, manufacturing capacity, the risk of non-approval of patents not yet granted, risks in obtaining regulatory approvals for radium-223 and our other products and difficulties of obtaining relevant governmental approvals for new products, and the other risks and uncertainties described in our annual report.

Press Release.

Oslo, Norway, 12 December 2012 – Algeta ASA (OSE: ALGETA) announces
that Bayer has submitted a Marketing Authorization Application (MAA) to the
European Medicines Agency (EMA) for radium-223 dichloride (radium-223)
for the treatment of castration-resistant prostate cancer (CRPC) patients
with bone metastases.

“The submission by Bayer of the MAA for radium-223 with the EMA is a significant
landmark for Algeta. It carries us further towards realizing our vision of becoming a
world class oncology company bringing novel targeted medicines to cancer patients,”

said Andrew Kay, Algeta’s President & CEO.

“I would like to thank the teams at both Algeta and Bayer, which have worked diligently together, for delivering this major accomplishment. Under the terms of our 2009 Agreement, the first complete submission for marketing approval triggers a €50 million milestone payment to Algeta from Bayer. This submission also brings us another step closer to the royalties we are due from the launch of the product in Europe. Meanwhile, we look forward to the initiation of new trials evaluating the broader clinical potential of radium-223 for treating cancer patients with bone metastases.”

“This submission reflects our commitment to developing innovative cancer treatments
for patients for whom only limited therapy options are available today,”

said Kemal Malik, MD, Member of the Bayer HealthCare Executive Committee and Head of Global
Development.

“With its novel mode of action and the proven survival benefit, radium-223 represents an innovation in the treatment of prostate cancer and is an important example of our growing oncology portfolio.”

The submission is based on data from the pivotal phase III ALSYMPCA (ALpharadin in
SYMptomatic Prostate CAncer) trial, which was conducted by Algeta. In the study,
radium-223 significantly increased overall survival by 44 percent (HR=0.695,
p=0.00007), resulting in a 30.5 percent reduction in the risk of death compared to
placebo. The median overall survival (OS) benefit in patients with radium-223 was 3.6
months, based on 14.9 months OS with radium-223 plus best standard of care (BSoC) vs. 11.3 months with placebo plus BSoC. These updated results were presented at the 48th Annual Meeting of the American Society of Clinical Oncology (ASCO) in June 2012.

The most common hematologic adverse events for patients treated with radium-223
and best standard of care (BSoC) and compared to placebo and BSoC included anemia (31% vs. 31%), neutropenia (5% vs. 1%) and thrombocytopenia (12% vs. 6%). With respect to Grade 3 and 4 adverse events, the most common events included anemia (13% vs. 13%), neutropenia (2% vs. 1%) and thrombocytopenia (6% vs. 2%). The most common non-hematologic adverse events in patients treated with radium-223 and BSoC compared to placebo and BSoC included bone pain (50% vs. 62%), nausea (36% vs. 35%), diarrhea (25% vs. 15%) and vomiting (19% vs. 14%). With respect to Grade 3 to 4 adverse events, the most common events included bone pain (21% vs. 26%).

About the ALSYMPCA Trial
The ALSYMPCA trial was a phase III, randomized, double-blind, placebo-controlled
international study comparing radium-223 dichloride vs. placebo in symptomatic CRPC
patients with bone metastases treated with BSoC compared with placebo plus BSoC.
The trial enrolled 921 patients in more than 100 centers in 19 countries The study
treatment consisted of up to six intravenous administrations of radium-223 or placebo
each separated by an interval of four weeks.

The primary endpoint of the study was overall survival. Secondary endpoints included
time to occurrence of skeletal related events (SRE), changes and time to progression
in PSA and ALP, safety, and impact on quality of life measures.

About CRPC and Bone Metastases
Prostate cancer is the most common non-cutaneous malignancy in men worldwide. In
2008, an estimated 899,000 men were diagnosed with prostate cancer and 258,000
died from the disease worldwide. Prostate cancer is the sixth leading cause of death
from cancer in men.

A majority of men with CRPC have radiological evidence of bone metastases. Once the cancer cells settle in the bone, they interfere with bone strength, often leading to pain, fracture and other complications that can significantly impair a man’s health. Bone metastases secondary to prostate cancer typically target the lumbar spine, vertebrae and pelvis. In fact, bone metastases are the main cause of morbidity and death in patients with CRPC.

About Radium-223 Dichloride
Radium-223 dichloride (radium-223), formerly referred to as Alpharadin, is a
therapeutic alpha particle-emitting pharmaceutical with targeted anti-tumor effect on
bone metastases in development for CRPC patients with bone metastases.
In September 2009, Algeta signed an agreement with Bayer Pharma AG (Berlin,
Germany) for the development and commercialization of radium-223. Under the terms of the agreement, Bayer will develop, apply for global health authority approvals, and commercialize radium-223 globally. Algeta will co-promote radium-223 with Bayer in the US, and is eligible for milestones as well as royalties on Bayer’s sales outside the US. The ALSYMPCA trial was initiated by Algeta in June 2008.

Radium-223 is an investigational agent and is not approved by the European
Medicines Agency (EMA), the US Food and Drug Administration (FDA), or other health authorities.

In terms of further development activities for radium-223, Bayer intends to conduct
studies in earlier settings of prostate cancer, including combination studies with other
agents, as well as exploratory studies in other tumors such as breast cancer and
osteosarcoma.

###

About Algeta
Algeta is a company focused on developing novel targeted therapies for patients with
cancer based on its alpha-pharmaceutical platform. The Company is headquartered in
Oslo, Norway, and has a US subsidiary, Algeta US, LLC, based in Cambridge, MA
performing commercial marketing operations in the US. Algeta is listed on the Oslo
Stock Exchange (Ticker: ALGETA). For more information please visit www.algeta.com.

Forward-looking Statements
This news release contains certain forward-looking statements that are based on
uncertainty, as they relate to events and depend on circumstances that will occur in
the future and which, by their nature, may have an impact on results of operations
and the financial condition of Algeta. Such forward-looking statements reflect our
current views and are based on the information currently available to Algeta. Algeta
cannot give any assurance as to whether such forward looking statements will prove
to be correct. These forward looking statements include statements regarding the
receipt of milestone payments, the build out of our US commercial organization and
future development activities. There are a number of factors that could cause actual
results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, risks or
uncertainties associated with the success of future clinical trials, the ability to identify
and hire a sufficient number of qualified employees for the US field force, growth
management, general economic and business conditions and the pricing environment,
the impact of competition, the ability to successfully commercialize radium-223 and
our other products, the risk that costs associated with the co-promotion of radium-223may be greater than anticipated, the risk that research & development will not yield new products that achieve commercial success, manufacturing capacity, the risk of non-approval of patents not yet granted, risks in obtaining regulatory approvals for radium-223 and our other products and difficulties of obtaining relevant governmental approvals for new products, and the other risks and uncertainties described in our annual report.