Leslie J. Browne Resigns as President and Chief Executive Officer of Pharmacopeia,...

Leslie J. Browne Resigns as President and Chief Executive Officer of
Pharmacopeia, Inc.
Chairman Assumes Interim Leadership Responsibility

PRINCETON, N.J., April 10 /PRNewswire-FirstCall/ -- Pharmacopeia
(Nasdaq: PCOP), an innovator in the discovery and development of novel small
molecule therapeutics, today announced that Leslie J. Browne, Ph.D., has
resigned as President and Chief Executive Officer and a member of the Board of
Directors in order to pursue other interests. His resignation was effective
April 9, 2008.
Joseph A. Mollica, Ph.D., Chairman of the Board, will assume day-to-day
leadership responsibilities on an interim basis until a successor is
appointed. A search will be undertaken to identify a successor.
Dr. Mollica stated, "We appreciate the contributions Les has made to the
progress of the company since 2004 and wish him well. Pharmacopeia will build
on its efforts in the development of pharmaceutical products for its own
account and for its partners while maintaining a sound financial footing."
Dr. Mollica added, "In the latter regard, the company will refocus its efforts
in discovery and development to capture an optimum return. The company will
be continuously evaluating its portfolio and scope of activities to maximize
shareholder value."
About Pharmacopeia
Pharmacopeia is a clinical development stage biopharmaceutical company
dedicated to discovering and developing novel small molecule therapeutics to
address significant medical needs. The company has a broad portfolio of
clinical and preclinical candidates under development internally or by
partners including seven clinical compounds in Phase 2 or Phase 1 development
addressing multiple indications including hypertension, diabetic nephropathy,
muscle wasting, inflammation and respiratory disease. The company is
leveraging its fully integrated drug discovery platform to sustain the growth
of its development pipeline. Pharmacopeia has established strategic alliances
with major pharmaceutical and biotechnology companies, including Bristol-Myers
Squibb, Celgene, Cephalon, GlaxoSmithKline, Organon, Schering-Plough, and
Wyeth Pharmaceuticals. For more information please visit the company's website
at http://www.pharmacopeia.com.
Contact:
Brian M. Posner
Executive Vice President and Chief Financial Officer
609-452-3635
ir_pr@pharmacopeia.com

This press release, and oral statements made with respect to information
contained in this press release, constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include those which express plan, anticipation,
intent, goal, contingency or future development and/or otherwise are not
statements of historical fact. These statements are based upon management's
current expectations and are subject to risks and uncertainties, known and
unknown, which could cause actual results and developments to differ
materially from those expressed or implied in such statements. These forward-
looking statements include, but are not limited to, statements about the
successful implementation of Pharmacopeia's strategic plans, Pharmacopeia's
plans to develop PS433540, a product candidate from its DARA program,
Pharmacopeia's Phase 2 and Phase 1 clinical studies with respect to PS433540,
including timing and expected outcomes of such studies, Pharmacopeia's plans
to develop PS178990, a product candidate from its SARM program, Pharmacopeia's
Phase 1 clinical studies with respect to PS178990, including timing and
expected outcomes of such studies, Pharmacopeia's plans to develop PS031291, a
product candidate from its chemokine receptor CCR1 program, Pharmacopeia's
estimates of the market opportunities for its product candidates, including
PS433540, PS178990 and PS031291, Pharmacopeia's ability to successfully
perform under its collaborations with Bristol-Myers Squibb, Cephalon,
GlaxoSmithKline, Schering-Plough and Wyeth, Pharmacopeia's ability to build
its pipeline of novel drug candidates through its own internally-funded drug
discovery programs, third party collaborations and in-licensing,
Pharmacopeia's ability to raise additional capital, Pharmacopeia's
expectations concerning the development priorities of its collaborators, their
ability to successfully develop compounds and its receipt of milestones and
royalties from the collaborations, Pharmacopeia's anticipated operating
results, financial condition, liquidity and capital resources, Pharmacopeia's
expectations concerning the legal protections afforded by U.S. and
international patent law, Pharmacopeia's ability to pursue the development of
new compounds and other business matters without infringing the patent rights
of others, additional competition, and changes in economic conditions.
Further information about these and other relevant risks and uncertainties
may be found in Pharmacopeia's Reports on Form 8-K, 10-Q and 10-K filed with
the U.S. Securities and Exchange Commission. Pharmacopeia urges you to
carefully review and consider the disclosures found in its filings which are
available in the SEC EDGAR database at http://www.sec.gov and from
Pharmacopeia at http://www.pharmacopeia.com. All forward-looking statements in
this press release and oral statements made with respect to information
contained in this press release are qualified entirely by the cautionary
statements included in this press release and such filings. These risks and
uncertainties could cause actual results to differ materially from results
expressed or implied by such forward-looking statements. These forward-looking
statements speak only as of the date of this press release. Pharmacopeia
undertakes no obligation to (and expressly disclaims any such obligation to)
publicly update or revise the statements made herein or the risk factors that
may relate thereto whether as a result of new information, future events, or
otherwise.
SOURCE Pharmacopeia, Inc.

Brian M. Posner, Executive Vice President and Chief Financial Officer of
Pharmacopeia, Inc., +1-609-452-3635, ir_pr@pharmacopeia.com