PHARMACOPEIA FORMS ALLIANCE WITH CEPHALON TO DISCOVER, DEVELOP AND COMMERCIALIZE NOVEL THERAPEUTIC PRODUCTS

Pharmacopeia, an innovator in the discovery and development of novel small molecule therapeutics, announced today the formation of a drug discovery, development and commercialization alliance with Cephalon, Inc., a leading global biopharmaceutical company. The financial terms of the agreement call for Cephalon to pay Pharmacopeia an up-front program access fee of $15 million.

PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/05-23-2006/0004366982&EDATE=)