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Memory Pharmaceuticals Announces Issuance of Key U.S. Patent for R3487/MEM 3454 and R4996/MEM 63908
Date:10/27/2008

7/MEM 3454 for future development and commercialization.

About R4996/MEM 63908

R4996/MEM 63908 is the second compound in the Company's Nicotinic Alpha-7 Receptor Agonist Collaboration with Roche. In preclinical studies, R4996/MEM 63908 improved learning and memory in healthy and aged cognitively impaired animals. Under the terms of the agreement with Roche, Memory Pharmaceuticals is responsible for conducting Phase 1 clinical trials of this compound and Roche is responsible for later stage development and commercialization.

About the Company

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused on developing innovative drugs for the treatment of debilitating CNS disorders, many of which exhibit significant impairment of memory and other cognitive functions, including Alzheimer's disease and, schizophrenia. For additional information, please visit our website at http://www.memorypharma.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or Memory Pharmaceuticals' prospects, future financial position, future revenues and projected costs should be considered forward-looking. Readers are cautioned that actual results may differ materially from projections or estimates due to a variety of important factors, including the outcome of clinical trials of Memory Pharmaceuticals' drug candidates and whether they demonstrate these candidates' safety and effectiveness; the risks and uncertainties associated with: obtaining additional financing to support Memory Pharmaceuticals' R&D and clinical activities and operations; obtaining regulatory approvals to conduct clinical trials and to commercialize Memor
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