Pharmacopeia Announces Third Quarter 2007 Financi...(e treatment of hypertension and...),Health

hypertension and diabetic nephropathy. Findings from this study

also supported once-a-day oral dosing of PS433540 as the compound

successfully demonstrated its ability to block the angiotensin II-

induced blood pressure increase for 24 hours.

-- PS433540 demonstrated positive results in a multiple ascending dose

study. This safety and tolerability study was initially designed to

evaluate 14 days of daily dosing in healthy volunteers, at dose

levels of 50, 100, 250 and 500 mg of PS433540. As no safety or

tolerability issues were observed with any of these doses, the study

was expanded to include a 1,000 mg dose. As with previous lower

doses, there were no safety or tolerability issues observed with the

1,000 mg dose of PS433540.

-- Pharmacopeia announced that Bristol-Myers Squibb Company (BMS)

initiated a Phase 2 clinical trial with a p38 kinase inhibitor,

PS540446, that resulted from a collaborative research program between

the two companies. PS540446 is being evaluated for the oral treatment

of moderate to severe psoriasis.

-- Pharmacopeia announced that it earned a $1 million milestone payment

from Schering-Plough as the result of the initiation of a Phase 1

clinical trial in the United States for PS948115, a compound identified

from the collaboration between the two companies. The compound is

being evaluated as a potential treatment for respiratory disease.

Pharmacopeia is eligible to receive additional milestone payments for

PS540446 and PS948115 if the programs are advanced further in clinical

trials by BMS and Schering-Plough, respectively. The company will also

receive royalties on sales of any resulting therapeutic products

incorporating compounds derived from the progr
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