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"It is generally accepted that p38 kinase inhibitors could be effective ina range of inflammatory diseases including psoriasis, rheumatoid arthritis,and inflammatory bowel disease," said Les Browne, Ph.D., President and ChiefExecutive Officer of Pharmacopeia. "Psoriasis is an important indication toevaluate in order to rapidly achieve proof of concept for this compound. Weare very pleased to see BMS-582949 advance and complement the other clinicaldevelopment programs with which we are associated, especially our own Phase 2DARA program."
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Bristol-Myers Squibb is also currently conducting a Phase 1 trial inCanada with a second p38 kinase inhibitor resulting from the collaborativeresearch program.
Under the terms of the companies' ongoing collaboration, Pharmacopeia willreceive milestone payments for the p38 compounds in the program to the extentthe program progresses through clinical development, and royalty payments forany product from the program that reaches the marketplace. Bristol-MyersSquibb is solely responsible for further development and commercialization ofthe therapeutic candidate.
ABOUT PHARMACOPEIA
Pharmacopeia is committed to discovering and developing novel therapeuticsto address significant medical needs. The Company has a broad portfolioadvancing toward clinical validation, both independently and with partners.Pharmacopeia's most advanced internal program is a dual-acting angiotensin andendothelin receptor antagonist (DARA) for hypertension and diabetic kidneydisease for which a Phase 2 clinical trial is underway. Other internalproprietary programs address primarily immunoregulation. Pharmacopeia'scollaborative efforts have resulted in a portfolio that includes two partneredprograms that have advanced into Phase 2 clinical trials targeting chronicobstructive pulmonary disease (COPD) and psoriasis and two partnered programsin Phase 1 clinical trials targeting oncology and inflammatory disease. Fouradditional partnered compounds are in preclinical development. Pharmacopeia'scurrent strategic alliances are with Cephalon, GlaxoSmithKline, Organon andWyeth.
This press release, and oral statements made with respect to informationcontained in this press release, constitute forward-looking statements withinthe meaning of the Private Securities Litigation Reform Act of 1995. Suchforward-looking statements include those which express plan, anticipation,intent, goal, contingency or future development and/or otherwise are notstatements of historical fact. These statements are based upon management'scurrent expectations and are subject to risks and uncertainties, known andunknown, which could cause actual results and developments to differmaterially from those expressed or implied in such statements. These forward-looking statements include, but are not limited to, statements about thesuccessful implementation of Pharmacopeia's strategic plans, Pharmacopeia'splans to develop PS433540, a product candidate from its DARA program,Pharmacopeia's Phase 1 and Phase 2 clinical studies with respect to PS433540,including timing and expected outcomes of such studies, Pharmacopeia'sestimates of the market opportunities for its product candidates, includingPS433540, Pha
