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Memory Pharmaceuticals Appoints Vaughn M. Kailian Interim President & Chief Executive Officer
Date:2/7/2008

hn and the Board will now commence the recruiting process for a permanent Chief Executive Officer to lead the Company into the next phase of its development," stated Jonathan Fleming, Chairman of the Board of Directors. "We support Jim in his decision to step down as President & Chief Executive Officer, but are pleased that he will continue to play a leadership role at Memory Pharmaceuticals. Under his stewardship, Memory Pharmaceuticals has evolved into a clinical development organization with a robust pipeline supported by a strong research engine, and we look forward to his continuing contributions to our success."

Mr. Kailian has served as a Managing Director of MPM BioVentures IV LLC since 2005. From February 2002 to December 2004, he served as Vice Chairperson of Millennium Pharmaceuticals, Inc. and as head of the Millennium commercial organization. From 1990 to 2002, Mr. Kailian was the Chief Executive Officer, President, and a director of COR Therapeutics, Inc. He became the CEO of COR shortly after the company was founded, took the company public in 1991, raised almost $1 billion in public market capital, and led its $2 billion merger with Millennium in 2002. Earlier in his career, Mr. Kailian held various international and U.S. general management, marketing and sales positions at Marion Merrell Dow, Inc. and its predecessor companies including president and general manager, Merrell Dow USA; and corporate vice president of Global Commercial Development, Marion Merrell Dow, Inc. In addition to serving as a member of the Company's Board of Directors, Mr. Kailian serves as a director of Cephalon, Inc. and NicOx, S.A., and several privately-held companies. Mr. Kailian also serves as a director of BIO Ventures for Global Health and the New England Healthcare Institute, both not-for-profit organizations. Mr. Kailian received a B.A. from Tufts University.

About the Company

Memory Pharmaceuticals Corp., a biopharmaceutical company, is focused o
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