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PHARMACOPEIA FORMS NEW RESEARCH COLLABORATION WITH ALTANA PHARMA AG Princeton, New Jersey - February 3, 2004 - Pharmacopeia, Inc. (Nasdaq: PCOP) today announced that it has entered into a research collaboration with ALTANA Pharma AG of Konstanz, Germany. Pharmacopeia and ALTANA will work together to identify and optimize small molecule lead compounds suitable for advanced development. Under the terms of this agreement, Pharmacopeia will provide its small molecule discovery expertise and unique discovery assets, including its multi-million compound collection of proprietary drug-like small molecules and its considerable modelling and design capabilities, to identify and optimize leads in a key therapeutic area for ALTANA. Pharmacopeia will receive funding for providing the research services and will be entitled to receive additional payments upon the successful achievement of milestones, and royalties upon the commercialization of any drugs resulting from the relationship. "We are very pleased to have the opportunity to enter into a research collaboration with ALTANA," said Stephen Spearman, Ph.D., Chief Operating Officer of Pharmacopeia. "We look forward to working together and to contributing to ALTANA's considerable success in drug discovery." |
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