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Memory Pharmaceuticals Commences Phase 1 Clinical Program for R4996/MEM 63908
Date:8/29/2007

-Trial Initiation Triggers $2.0 Million Milestone Payment from Roche-

MONTVALE, N.J., Aug. 29 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced the dosing of the first subject in the single ascending dose (SAD) study of its Phase 1 clinical program of R4996/MEM 63908, a partial agonist of the nicotinic alpha-7 receptor. Compounds acting on this receptor could be beneficial in the treatment of Alzheimer's disease and schizophrenia, as well as other psychiatric and neurological disorders.

"We are excited to advance R4996/MEM 63908 into clinical studies and further explore the potential of nicotinic alpha-7 receptor agonists in multiple CNS indications," said Stephen Murray, M.D., Ph.D., Chief Medical Officer. "Together with our partner Roche, we have built a leading position in the development of nicotinic alpha-7 receptor agonists, and the advancement of R4996/MEM 63908 into the clinic reflects our continued progress with our Nicotinic Alpha-7 Agonist Program."

The randomized, double-blind, placebo-controlled study will evaluate the safety, tolerability and pharmacokinetics of ascending doses of R4996/MEM 63908 in healthy adult male volunteers. The study will be conducted in Montreal, Canada under a Clinical Trial Application that Memory Pharmaceuticals filed with Health Canada. As part of the Phase 1 clinical program for R4996/MEM 63908, the Company is planning to conduct a food interaction study in healthy adult male volunteers and a randomized, placebo- controlled single dose study in elderly male and female volunteers. The Company expects to complete the SAD study in the first quarter of 2008.

R4996/MEM 63908 is being developed as part of the Company's nic
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SOURCE Memory Pharmaceuticals Corp.
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