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Memory Pharmaceuticals Completes Phase 1 Multiple Ascending Dose Study of R4996/MEM 63908
Date:9/26/2008

eal, Canada under Clinical Trial Applications that Memory Pharmaceuticals filed with Health Canada.

Nicotinic Alpha-7 Receptor Agonist Collaboration with Roche

R4996/MEM 63908 is the second compound being developed under the Company's Nicotinic Collaboration with Roche. Under the terms of the agreement, Memory Pharmaceuticals is responsible for conducting Phase 1 clinical trials of the compound and Roche is responsible for later stage development and commercialization. Memory Pharmaceuticals is entitled to receive milestone payments upon the achievement of specified development, regulatory, commercialization, and sales level events for R4996/MEM 63908.

The lead compound in the Nicotinic Collaboration with Roche is R3487/MEM 3454. In May 2008, Roche exercised its option to license to R3487/MEM 3454 for future development and commercialization. Memory Pharmaceuticals is currently conducting a Phase 2 trial of R3487/MEM 3454 in cognitive impairment associated with schizophrenia and recently announced that Roche intends to initiate a Phase 2 trial of R3487/MEM 3454 in Alzheimer's disease starting either at the end of this year or at the beginning of 2009.

About the Company

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders, many of which exhibit significant impairment of memory and other cognitive functions, including Alzheimer's disease and, schizophrenia. For additional information, please visit our website at http://www.memorypharma.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or Memory Pharmaceuti
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SOURCE Memory Pharmaceuticals Corp.
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