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MEMORY PHARMACEUTICALS COMPLETES DOSING IN STUDY OF MEM 3454

February 15, 2006

Memory Pharmaceuticals has completed dosing in its Phase I study of MEM 3454, a partial agonist of the nicotinic alpha-7 receptor, in healthy volunteers.

The single-center study consisted of four segments: a double-blind, placebo-controlled study to evaluate the safety, tolerability and pharmacokinetics of single ascending doses of MEM 3454, which involved 56 healthy young male volunteers; a standard food interaction study, which involved 12 volunteers; a single ascending dose study, which involved 15 elderly volunteers; and a multiple ascending dose study, which involved 48 healthy young male and female volunteers.