SGX Provides Update on BCR-ABL Col... (approval in the drugresistant CML patien...)

SGX Provides Update on BCR-ABL Collaboration

Date:9/10/2007

approval in the drug resistant CML patient population for which there are limited treatment options. The anticipated timeline for filing an IND on SGX393 is the first half of 2008, contingent upon the successful completion of further preclinical studies, including formal toxicology studies and drug formulation studies.

"We are pleased with the progress under our collaboration with Novartis," said Mike Grey, President and Chief Executive Officer of SGX. "With the collaboration focusing on potential front-line candidates and SGX moving SGX393 forward, we now have multiple opportunities being progressed in parallel for this important disease area."

About SGX Pharmaceuticals

SGX Pharmaceuticals is a biotechnology company focused on the discovery, development and commercialization of innovative cancer therapeutics. The SGX oncology pipeline includes drug candidates from its enabling, proprietary FAST(TM) drug discovery platform, such as next generation BCR-ABL inhibitors currently being developed in partnership with Novartis, MET tyrosine kinase inhibitors, including SGX523, and potent JAK2 inhibitors. More information on the pipeline and drug discovery platform can be found at http://www.sgxpharma.com and in the Company's various filings with the Securities and Exchange Commission.

Forward-looking Statements

Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include, but are not limited to, statements related to research and development programs, expectations regarding the timing of the filing of INDs, the potential of the Company's inhibitors as treatments for certain cancers and the ability to discover, develop and commercialize cancer therapeutics. These statements are only predictions based on current information and expectations and involve a number of risks and uncertainties. Actual events or results may diff
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SGX Provides Update on BCR-ABL Col...(approval in the drugresistant CML patien...)