Pharmacopeia Nominates Novel Chemokine Receptor Antagonist for D... ( Company Also Provides Update on...)

Pharmacopeia Nominates Novel Chemokine Receptor Antagonist for Development

Date:2/11/2008

Company Also Provides Update on DARA Program's Ongoing Phase 2a

Hypertension Study

PRINCETON, N.J., Feb. 11 /PRNewswire-FirstCall/ -- Pharmacopeia (Nasdaq: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced the nomination of PS031291 as a preclinical development compound from its internal CCR1 discovery program. PS031291 is a potent and highly selective antagonist at the chemokine receptor CCR1, which has been implicated to play a significant role in multiple inflammatory and autoimmune disease processes. Pharmacopeia believes PS031291 may possess significant potential in the oral treatment of multiple myeloma and various inflammatory diseases including rheumatoid arthritis. The company intends to initiate GLP toxicology studies on the compound in the current quarter.

"PS031291 strengthens Pharmacopeia's internal pipeline with a wholly-owned development candidate with the potential to address significant therapeutic needs," said Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. "We believe this nomination is a testament to our drug discovery expertise which has already generated a number of clinical compounds for our strategic partners."

While a number of compounds discovered by Pharmacopeia are being developed by its various collaborators, PS031291 is the first compound to emerge from Pharmacopeia's internal drug discovery efforts into its internal development portfolio. Pharmacopeia's internal clinical pipeline consists of PS433540 (DARA) for hypertension and diabetic nephropathy and PS178990 (SARM) for muscle wasting associated with a number of serious medical conditions including end-stage renal disease
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