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TorreyPines Therapeutics Enters into Agreement to Reduce Royalty Rates and Delay Clinical Milestone Payments Due to Eli Lilly for NGX426 and Tezampanel
Date:11/25/2008

ive disorders. The company is currently developing three product candidates: two ionotropic glutamate receptor antagonists and one muscarinic receptor agonist. Further information is available at www.torreypinestherapeutics.com.

This press release contains forward-looking statements or predictions. Such statements are subject to numerous known and unknown risks, uncertainties and other factors, which may cause TorreyPines' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. In particular there is no guarantee that tezampanel or NGX426 will reach additional clinical milestones, complete clinical testing, or ever be commercialized, that this amendment will build stockholder value or that this amendment will enhance the commercial value of tezampanel and NGX426. These and other risks which may cause results to differ are described in greater detail in the "Risk Factors" section of TorreyPines' annual report on Form 10-K for the year ended December 31, 2007 and TorreyPines other SEC reports. The forward-looking statements are based on current information that is likely to change and speak only as of the date hereof.

    Company contact:                             Investor contact:
    Paul Schneider                               Rhonda Chiger
    TorreyPines Therapeutics, Inc.               Rx Communications Group
    858-623-5665 X125                            (917) 322-2569
    pschneider@torreypinestherapeutics.com       rchiger@rxir.com

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SOURCE TorreyPines Therapeutics, Inc.
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4. TorreyPines Therapeutics Begins Dosing in a Phase I Multiple Dose Clinical Trial of NGX426, Oral Prodrug of Tezampanel
5. TorreyPines Therapeutics Reports Successful End-of-Phase II Meeting With FDA for Tezampanel
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