Memory Pharmaceuticals Initiates Phase 2a Trial of MEM 3454 in Cognitive Impairment Associated with Sch...(pon the fulfillment of certain predefine...)

Date:12/20/2007

pon the fulfillment of certain predefined events, including the recently completed Phase 2a trial of MEM 3454 in Alzheimer's disease. Roche is obligated to make a milestone payment to Memory Pharmaceuticals at the time this option is exercised. In June 2007, Memory Pharmaceuticals expanded its nicotinic alpha-7 receptor agonist agreement with Roche to support this Phase 2a trial of MEM 3454 in CIAS. The expanded agreement provides that Roche would have to make an additional milestone payment upon completion of the Phase 2a CIAS trial to maintain its license to MEM 3454. The additional milestone payment, if made, is expected to cover the expenses related to the Phase 2a CIAS trial of MEM 3454.

MEM 3454 is a partial agonist of the nicotinic alpha-7 receptor, a highly specialized receptor found in the central nervous system. Compounds acting on this receptor could be beneficial in the treatment of Alzheimer's disease and schizophrenia, as well as other psychiatric and neurological disorders. MEM 3454 is the Company's lead drug candidate from its nicotinic alpha-7 agonist program.

About CIAS

Cognitive impairment is recognized as a major component of schizophrenia. The condition is characterized by a reduction in patients' sensory-gating abilities and working and verbal memory, which impacts the patient's ability to function normally. Although there are drugs approved to treat the positive and negative symptoms associated with schizophrenia, there are no currently available treatments that address the cognitive deficits associated with the disorder.

About the Company

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders such as Alzheimer's disease, schizophrenia and depression. For additional information, please visit our website at http://www.memorypharma.com.

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SOURCE Memory Pharmaceuticals Corp. Copyright©2007 PR Newswire. All rights reserved

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