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Pharmacopeia Acquires Selective Androgen Receptor Modulator ('SARM') Program from Bristol-Myers Squibb
Date:10/15/2007

d conditions."

In consideration for the SARM program license, Pharmacopeia will apply a portion of its medicinal chemistry resources to an unrelated Bristol-Myers Squibb discovery program for up to three years and pay Bristol-Myers Squibb milestone payments associated with submission and approval of a therapeutic product for marketing and a stepped royalty on net sales of therapeutic SARM products, if any, resulting from the SARM development program.

Pharmacopeia will hold a conference call today, October 15, beginning at 8:30 a.m. Eastern Time to discuss this addition to its clinical portfolio. Forward-looking and material information may be discussed on this conference call.

Date: October 15, 2007

Time: 8:30 a.m. EDT

Domestic Callers: (877) 879-6174

International Callers: (719) 325-4810

Confirmation Code: 3655914

Name of Conference: Pharmacopeia

Webcast information can be accessed by visiting http://www.pharmacopeia.com

A replay of the conference call can be accessed by dialing toll-free (888) 203-1112 in the U.S., or (719) 457-0820 outside the U.S. The access code for the replay is 3655914. A replay of the webcast will also be accessible on Pharmacopeia's website on the "Investors" page at http://www.pharmacopeia.com. The replays will be available for two weeks.

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 with partners including seven clinical compounds in Phase 2 or Phase 1 development addressing hypertension, diabetic nephropathy, muscle wasting, inflammation and respiratory disease. The company is leveraging its fully int
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