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Phase 2 Clinical Studies Initiated for a Novel Therapeutic Candidate Identified Through Pharmacopeia Collaboration
Date:9/18/2007

Phase 2 Clinical Trial Initiated for a p38 Kinase Inhibitor Identified

through Collaboration with Bristol-Myers Squibb for the Treatment of

Psoriasis

PRINCETON, N.J., Sept. 18 /PRNewswire-FirstCall/ -- Pharmacopeia (Nasdaq: PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced that Bristol-Myers Squibb Company (NYSE: BMY) has initiated a Phase 2 clinical trial with a p38 kinase inhibitor (BMS-582949) that resulted from a collaborative research program between Pharmacopeia and Bristol-Myers Squibb. BMS-582949 is being evaluated for the oral treatment of moderate to severe psoriasis. The multi-centered randomized, double-blind, placebo-controlled trial, will examine safety and efficacy of the compound at three different doses. Approximately 100 patients are expected to be enrolled in the study.

"It is generally accepted that p38 kinase inhibitors could be effective in a range of inflammatory diseases including psoriasis, rheumatoid arthritis, and inflammatory bowel disease," said Les Browne, Ph.D., President and Chief Executive Officer of Pharmacopeia. "Psoriasis is an important indication to evaluate in order to rapidly achieve proof of concept for this compound. We are very pleased to see BMS-582949 advance and complement the other clinical development programs with which we are associated, especially our own Phase 2 DARA program."

Bristol-Myers Squibb is also current
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