Pharmacopeia Collaboration Advances Novel Therapeutic Candidate Into Phase 1 Clinical Trials

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Etfs � Hgd Copa	LSE:PCOP	London	Exchange Traded Fund

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Pharmacopeia Now Has Four Partnered Programs in Active Clinical Development PRINCETON, N.J., Feb. 20 /PRNewswire-FirstCall/ -- Pharmacopeia (NASDAQ: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced that Schering-Plough has initiated a Phase 1 clinical trial in the United States with PS522501, a compound identified from the collaboration between the two companies. The compound is being evaluated as a potential treatment for metabolic diseases. "We now have three separate programs in clinical trials resulting from our successful collaboration with Schering-Plough," said Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. "We are very pleased to see another candidate enter the clinic and join the ongoing clinical programs in COPD and oncology." Schering-Plough is solely responsible for further development and commercialization of the therapeutic candidate. Pharmacopeia is eligible to receive milestone payments if the program advances into late-stage clinical trials and royalties on sales of any resulting therapeutic products. The most advanced of the programs from the collaboration between the companies is a CXCR2 antagonist that has successfully completed Phase 1 clinical development. The further development of that program is currently being continued by Schering-Plough in patients suffering from chronic obstructive pulmonary disease (COPD). ABOUT PHARMACOPEIA Pharmacopeia is committed to discovering and developing novel therapeutics to address significant medical needs. The Company has a broad portfolio advancing towards clinical validation, both independently and with partners. Pharmacopeia's most advanced internal program is a dual-acting angiotensin and endothelin receptor antagonist (DARA) for hypertension and diabetic kidney disease for which a Phase 1 clinical trial is underway. Other internal proprietary programs address immunoregulation. Four partnered programs are in active clinical trials: a CXCR2 antagonist for chronic obstructive pulmonary disease (COPD), p38 MAP kinase inhibitors for rheumatoid arthritis, an enzyme inhibitor for oncology and a candidate for metabolic diseases. Four additional partnered compounds are in preclinical development. Pharmacopeia's discovery, development and commercialization partnerships are with leading pharmaceutical companies including GlaxoSmithKline, Bristol-Myers Squibb, Organon, Schering-Plough, Cephalon, Celgene, and Wyeth. Contact: Brian M. Posner Executive Vice President and Chief Financial Officer Pharmacopeia (609)452-3643 This press release, and oral statements made with respect to information contained in this press release, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those which express plan, anticipation, intent, goal, contingency or future development and/or otherwise are not statements of historical fact. These statements are based upon management's current expectations and are subject to risks and uncertainties, known and unknown, which could cause actual results and developments to differ materially from those expressed or implied in such statements. These forward- looking statements include, but are not limited to, statements about the successful implementation of Pharmacopeia's strategic plans, Pharmacopeia's plans to develop PS433540, a compound from its DARA program, Pharmacopeia's Phase 1 clinical studies with respect to PS433540, Pharmacopeia's ability to successfully perform under its collaborations with Cephalon, GlaxoSmithKline, Organon and Wyeth, Pharmacopeia's ability to build its pipeline of novel drug candidates through its own internally-funded drug discovery programs, third party collaborations and in-licensing, Pharmacopeia's ability to raise additional capital, Pharmacopeia's expectations concerning the development priorities of its collaborators, their ability to successfully develop compounds and its receipt of milestones and royalties from the collaborations, Pharmacopeia's anticipated operating results, financial condition, liquidity and capital resources, Pharmacopeia's expectations concerning the legal protections afforded by U.S. and international patent law, Pharmacopeia's ability to pursue the development of new compounds and other business matters without infringing the patent rights of others, additional competition, and changes in economic conditions. Further information about these and other relevant risks and uncertainties may be found in Pharmacopeia's Reports on Form 8-K, 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Pharmacopeia urges you to carefully review and consider the disclosures found in its filings which are available in the SEC EDGAR database at http://www.sec.gov/ and from Pharmacopeia at http://www.pharmacopeia.com/. All forward-looking statements in this press release and oral statements made with respect to information contained in this press release are qualified entirely by the cautionary statements included in this press release and such filings. These risks and uncertainties could cause actual results to differ materially from results expressed or implied by such forward-looking statements. These forward- looking statements speak only as of the date of this press release. Pharmacopeia undertakes no obligation to (and expressly disclaims any such obligation to) publicly update or revise the statements made herein or the risk factors that may relate thereto whether as a result of new information, future events, or otherwise. DATASOURCE: Pharmacopeia CONTACT: Brian M. Posner, Executive Vice President and Chief Financial Officer for Pharmacopeia, +1-609-452-3643, Web site: http://www.pharmacopeia.com/

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PCOP Etfs � Hgd Copa