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Emisphere Announces Recruitment of Novartis Phase III Study for Oral Osteoporosis Treatment

Phase III Study to Explore the Effects of Eligen(R) Delivery Technology and

Salmon Calcitonin on Vertebral Fractures in Postmenopausal Women

CEDAR KNOLLS, N.J., Aug. 5 /PRNewswire-FirstCall/ -- Emisphere Technologies, Inc. (Nasdaq: EMIS) announced today that Novartis Pharma AG has finished recruitment for a multi-center Phase III study exploring the safety and efficacy of Salmon Calcitonin and Emisphere's proprietary Eligen(R) Technology in the treatment of vertebral fractures in postmenopausal women aged 60-80 with osteoporosis. The last of 4,500+ patients was recruited in the final week of June, and the three-year study will be conducted in North and South America, Europe and Asia.

Osteoporosis is a disease associated with a gradual thinning and weakening of the bones, occurring most frequently in women after menopause. Thinner and weaker bones are increasingly susceptible to fractures. Untreated postmenopausal osteoporosis can lead to chronic back pain, disabling fractures, and lost mobility.

"This Phase III study provides yet another application of our Eligen(R) Technology in the fight against osteoporosis. Safe, effective and rapid treatment will make a difference in the lives of millions of American women who are afflicted with the disease," said Michael V. Novinski, President and Chief Executive Officer of Emisphere.

About Emisphere Technologies, Inc.

Emisphere Technologies, Inc. is a biopharmaceutical company that focuses on a unique and improved delivery of therapeutic molecules using its Eligen(R) Technology. These molecules and compounds could be currently available or in development. Such molecules are usually delivered by injection; in many cases, their benefits are limited due to poor bioavailability, slow on-set of action or variable absorption. The Eligen(R) Technology can be applied to the oral route of administration as well other delivery pathways, such as buccal, rectal, inhalation, intra-vaginal or transdermal. The website is:

Safe Harbor Statement Regarding Forward-looking Statements

The statements in this release and oral statements made by representatives of Emisphere relating to matters that are not historical facts (including without limitation those regarding the timing or potential outcomes of research collaborations or clinical trials, any market that might develop for any of Emisphere's product candidates and the sufficiency of Emisphere's cash and other capital resources) are forward-looking statements that involve risks and uncertainties, including, but not limited to, the likelihood that future research will prove successful, the likelihood that any product in the research pipeline will receive regulatory approval in the United States or abroad, the ability of Emisphere and/or its partners to develop, manufacture and commercialize products using Emisphere's drug delivery technology, Emisphere's ability to fund such efforts with or without partners, and other risks and uncertainties detailed in Emisphere's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in Emisphere's Annual Report on Form 10-K (file no. 1-10615) filed on March 5, 2007 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, filed on May 7, 2007.

For further information contact:

Bob Madison, Senior Director Corporate Communications

973-532-8001 or

Adam Friedman, Adam Friedman Associates

212-981-2529, extension 18 or

SOURCE Emisphere Technologies, Inc.
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