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Pharmacopeia to Receive $5 Million Payment from GlaxoSmithKline
Date:3/18/2008

resents the type of results that we envisioned when we established the CEEDD collaboration model at GSK."

"The exceptional productivity of the alliance so far reflects how well its goals fit with Pharmacopeia's strengths," said Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. "We expect the excellent progress to continue as we focus on moving candidates toward the clinic."

About Pharmacopeia

Pharmacopeia is a clinical development stage biopharmaceutical company dedicated to discovering and developing novel small molecule therapeutics to address significant medical needs. The company has a broad portfolio of clinical and preclinical candidates under development internally or by partners including eight clinical compounds in Phase 2 or Phase 1 development addressing multiple indications including hypertension, diabetic nephropathy, muscle wasting, inflammation and respiratory disease. The company is leveraging its fully integrated drug discovery platform to sustain the growth of its development pipeline. Pharmacopeia has established strategic alliances with major pharmaceutical and biotechnology companies, including Bristol-Myers Squibb, Celgene, Cephalon, GlaxoSmithKline, Schering-Plough, and Wyeth Pharmaceuticals. For more information please visit the company's website at http://www.pharmacopeia.com.

Pharmacopeia Contact:

Amy P. Sharpless

Corporate Communications

609-452-3643

ir_pr@pcop.com

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.
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