February 27, 2006

TorreyPines Therapeutics has initiated a Phase I single- and multiple-dose study in healthy elderly volunteers for NGX267, a novel treatment for Alzheimer's disease. This study follows the completion of the company's first Phase I study with this compound. In the first study, NGX267 was administered as single doses to healthy adult males and it was shown to be well-tolerated. In preclinical studies, NGX267, a selective muscarinic (M1) agonist, has shown the potential to both reduce symptoms and slow disease progression.

Designed in two parts, this double-blind, placebo-controlled study is being conducted at one center in the U.S. The study will enroll approximately 64 healthy men and women between the ages of 65 and 80, reflecting the age of the primary Alzheimer's disease population. The first part of the study uses a single, ascending dose, sequential cohort design followed by a multiple-dose phase.