Pharmacopeia Collaboration With Schering-Plough Results in Initiation of Human
Trials for Inflammatory Indication
Second Clinical Trial Milestone with Schering-Plough
PRINCETON, N.J., March 9 /PRNewswire-FirstCall/ -- Pharmacopeia, Inc.
announced today that Schering-Plough Corporation has initiated human trials of
a compound discovered through collaboration between the companies. The
initiation of this trial for an inflammatory indication triggers a milestone
payment to Pharmacopeia as part of its agreement with Schering-Plough.
Pharmacopeia will be entitled to additional milestone payments when this program
progresses. Pharmacopeia is also entitled to royalties on commercial sales of
any products that result from this collaboration.
"We are pleased to announce our second clinical trial milestone within the last
few months with Schering-Plough. We greatly value Schering-Plough's commitment
to Pharmacopeia and our joint programs," said Joseph A. Mollica, Ph.D.,
Chairman, President and Chief Executive Officer of Pharmacopeia. "This
achievement reconfirms the contribution Pharmacopeia makes in augmenting our
partners' drug development pipelines and advancing their drug discovery
initiatives and validates our collaborative approach in successfully helping
develop new compounds." Pharmacopeia (http://www.pharmacopeia.com/) is a leader in enabling science and
technology that accelerates and improves the drug discovery and chemical
development processes. Pharmacopeia's Drug Discovery business integrates
proprietary small molecule combinatorial chemistry, medicinal chemistry, high-
throughput screening, in-vitro pharmacology, computational methods and
informatics to discover and optimize lead compounds. Pharmacopeia's software
subsidiary, Accelrys, develops and commercializes molecular modeling and
simulation software for the life sciences and materials research markets,
cheminformatics and decision support systems, and bioinformatics tools including
gene sequence analysis. Pharmacopeia is headquartered in Princeton, New
Jersey.
Contact:
Simon M. Tomlinson, Ph.D. Senior Vice President, Business Development
Pharmacopeia Drug Discovery, Inc. (609) 452-3600
When used anywhere in this document, the words "expects," "believes,"
"anticipates," "estimates" and similar expressions are intended to identify
forward-looking statements. Forward-looking statements herein may include
statements addressing future financial and operating results of Pharmacopeia. Pharmacopeia has based these forward-looking statements on its current
expectations about future events. Such statements are subject to risks and
uncertainties including, but not limited to, the successful implementation of
Pharmacopeia's strategic plans, theacceptance of new products, the obsolescence
of existing products, the resolution of existing and potential future patent
issues, additional competition, changes in economic conditions, and other risks
described in documents Pharmacopeia has filed withthe Securities and Exchange
Commission, including its most recent report on Form 10-K and subsequent reports
on Form 10-Q. All forward-looking statements in this document are qualified
entirely by the cautionary statements included in this document and such
filings. These risks and uncertainties could cause actual results to differ
materially from results expressed or implied by forward-looking statements
contained in this document. These forward-looking statements speak only as of
the date of this document. Pharmacopeia disclaims any undertaking to publicly
update or revise any forward-looking statements contained herein to reflect any
change in its expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based. DATASOURCE: Pharmacopeia, Inc.
CONTACT: Simon M. Tomlinson, Ph.D., Senior Vice President, Business Development of Pharmacopeia Drug Discovery, Inc., +1-609-452-3600, Web site: http://www.pharmacopeia.com/
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