| ALLIANCE |
Princeton, New Jersey - February 4, 2004 - Pharmacopeia, Inc. (Nasdaq: PCOP) today announced that it has entered into a research collaboration with Taiho Pharmaceutical Co. Ltd. of Tokyo, Japan. Pharmacopeia and Taiho will work together to identify promising small molecule lead compounds suitable for further development. Under the terms of this agreement, Pharmacopeia will provide its small molecule discovery expertise to identify leads in a key area of research focus for Taiho. Pharmacopeia will receive funding for providing these research activities and will be entitled to receive additional payments upon the successful achievement of milestones and royalties upon the commercialization of any drugs resulting from this relationship. "Utilizing the unique combination of our multi-million compound collection of proprietary drug-like small molecules and ultra high-throughput screening, we will seek to augment Taiho's internal discovery efforts by identifying potent and selective initial lead compounds on their behalf," said Stephen Spearman, Ph.D., Chief Operating Officer of Pharmacopeia. "We are very pleased to welcome Taiho to our family of collaborators and look forward to working together." |
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