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Memory Pharmaceuticals Refocuses to Advance Development and Clinical Programs
Date:3/12/2008

am. In addition, the parties

expanded the scope of compounds eligible for higher tier royalties

under the agreement.

-- PDE4 Inhibitor Program. The Company's PDE4 inhibitor program

includes MEM 1414, along with MEM 1917 and several backup compounds.

The Company believes that PDE4 inhibitors could be beneficial in

treating a number of cognition-related CNS disorders and

inflammatory diseases. MEM 1414 has demonstrated efficacy in a

broad range of preclinical cognition and anti-inflammatory models.

In addition, Phase 1 studies have demonstrated a favorable safety

profile for the compound overall and particularly with respect to

nausea and vomiting, which has limited the development of other PDE4

compounds. The Company plans to progress MEM 1414 into a Phase 2a

trial by the end of 2008.

-- 5-HT6 Antagonist Program. 5-HT6 antagonists are potential

treatments for Alzheimer's disease, schizophrenia, attention deficit

disorder and obesity. Memory Pharmaceuticals has generated a

portfolio of novel, potent and selective 5-HT6 antagonists and is

evaluating several lead compounds as potential development

candidates. The Company plans to advance the program into clinical

trials by the end of 2008.

Conference Call and Webcast Information

Memory Pharmaceuticals will hold a conference call today, March 12, 2008, at 9:00 a.m. EDT to discuss the new operational focus. The conference call will also be broadcast live from the "Investors" section of the Company's website. Memory Pharmaceuticals' senior management will host the conference call. Investors and other interested parties may access the call as follows:

Date: Wednesday, March 12, 2008

Time: 9:00 a.m. EDT


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SOURCE Memory Pharmaceuticals Corp.
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