Announcement no. 4/2008                                                         

To OMX The Nordic Exchange Copenhagen and the press                             

                                                    Copenhagen, January 31, 2008

Report on the extraordinary general meeting and issue of warrants in Exiqon A/S 

Summary: Exiqon A/S announces report on the extraordinary general meeting held  
on 31 Janaury 2008, expected timing of publication of a prospectus and the      
decision of the supervisory board to issue warrants to key employees.           

Report on the extraordinary general meeting                                     

In accordance with the agenda, an extraordinary general meeting was held in     
Exiqon A/S today 31 January 2008.                                               

The general meeting adopted the supervisory board's proposal to authorize the   
supervisory board to increase the share capital by up to nom. DKK 6,161,004     
through one or more issues without pre-emption rights for the existing          

The general meeting adopted the general guidelines for incentive schemes;       

The general meeting adopted the supervisory board's proposal to increase the    
present authorization to issue warrants from 3.500.000 to 4.500.000 warrants and
to amend the authorization to include employees in the company's subsidiaries;  
The company was granted authorization to acquire own shares (treasury shares).  

Exiqon expects to publish a prospectus regarding the Oncotech transaction during
the course of next week.                                                        

Issue of warrants                                                               

In continuation of the extraordinary general meeting, a meeting was held in the 
supervisory board, where it was decided to issue 191.761 warrants to certain key
employees in Exiqon A/S, who are not members of the supervisory board or the    
registered executive management, in accordance with the authorization granted in
article 3c of the articles of association.                                      

The warrants issued entitle the warrant holder to subscribe for up to nom. DKK  
191.761 shares of DKK 1.00 each in Exiqon A/S, and the supervisory board at the 
same time resolved to increase the company's share capital accordingly.         

The exercise price for the issued warrants is DKK 36.20 per warrant which       
corresponds to the average closing price of the Company's shares in the last    
five trading days up to and including 30 January 2008, plus 5% per year.        

Of the warrants issued one thirty-sixth (1/36) hereof may be exercised as from  
the first day of the calendar month following the date of issuance of these     
warrants. Another one thirty-sixth (1/36) of these warrants may be exercised as 
from the first day of each new calendar month until all of these warrants have  
become exercisable. Unexercised warrants become null and void after expiry of   
the first exercise period following 36 months after allocation.                 

The resolution of the supervisory board has been included in article 3c2 of the 
company's articles of association.                                              

For more information, please contact:                                           

Lars Kongsbak, President and CEO, tel. + 45 40 90 21 01                         
Hans Henrik Chrois Christensen, CFO, tel. +45 45 65 09 53 or + 45 40 90 21 31   

About Exiqon                                                                    
Exiqon's corporate mission is to combine leading-edge scientific expertise in   
gene expression with our proprietary LNA™ technology. Exiqon's products,        
services and scientific staff enable life science researchers to make           
groundbreaking discoveries. Moreover, Exiqon is addressing the unmet need for a 
new approach to the diagnosis of cancer. Exiqon's products are based on patented
technology (LNA™ or Locked Nucleic Acids) that facilitates very precise and     
sensitive analysis of nucleic acids. Exiqon aims to expand the existing product 
offering for research use as well as to develop new proprietary molecular       
diagnostic products. Exiqon, through a number of recent initiatives, has        
positioned itself as a significant player in applying miRNA as the key biomarker
in cancer diagnostics.                                                          


Forward-looking statements:                                                     

This announcement contains forward-looking statements regarding Exiqon's        
potential future development and financial performance and other statements     
which are not historical facts. Such statements are made on the basis of        
assumptions and expectations which, to the best of Exiqon's knowledge, are      
reasonable and well-founded at this time, but which may prove to be erroneous.  
Exiqon's operations are characterized by the fact that its actual results may   
deviate significantly from that described herein as anticipated, believed,      
estimated or expected.                                                          

This announcement is not an offer of securities for sale in Exiqon. The shares  
in Exiqon have not been registered under the U.S. Securities Act of 1933, as    
amended (the “Securities Act”) or any State securities laws and may not be      
offered, sold or delivered within the United States or to U.S. persons absent   
from registration under or an applicable exemption from the registration        
requirements of the United States securities laws and applicable State          
securities laws.