Memory Pharmaceuticals Highlights Progress with Key Programs at i...( MONTVALE N.J. May 16 /- Memory Ph...),Health

MONTVALE, N.J., May 16 /PRNewswire-FirstCall/ -- Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced progress with several key development programs at its R&D Day meeting with the investment community. The Company reported new clinical data for MEM 1414, its lead PDE4 inhibitor, demonstrating the compound's CNS activity in humans. In addition, the Company has nominated MEM 68626 as the lead development candidate from its 5-HT6 antagonist program, and separately confirmed its 2008 development goals for its pipeline.

"We are extremely excited about the progress we have made in advancing our programs," said Vaughn M. Kailian, President and Chief Executive Officer of Memory Pharmaceuticals. "MEM 1414 produced a robust CNS signal in a human quantitative EEG study. In addition, using human whole blood assays, we have identified plasma concentrations required for anti-inflammatory activity. These data, combined with previous pharmacokinetic and safety data obtained in Phase 1 clinical trials for MEM 1414, will guide dosing for a proof-of-concept trial in either a cognition or respiratory indication, which we expect to initiate by the end of 2008."

Mr. Kailian continued, "Further, we are pleased to report that we have nominated MEM 68626 as the lead compound in our 5-HT6 antagonist program. MEM 68626 has demonstrated strong preclinical efficacy data in cognition and has a favorable safety and pharmacokinetic profile, which we believe offers advantages over other compounds in development. We look forward to advancing MEM 68626 into the clinic this year."

MEM 1414 - Potential in Cognition and Inflammation

Memory Pharmaceuticals reported the results of a clinical study of MEM 1414 on quantitative EEG (qEEG), a bio
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