Pharmacopeia to Present At the BMO Capital Markets 8th Annual Focus On Healthcare...

Pharmacopeia to Present At the BMO Capital Markets 8th Annual Focus On
Healthcare Conference

PRINCETON, N.J., July 23, 2008 (PRIME NEWSWIRE) -- Pharmacopeia (Nasdaq:PCOP),
an innovator in the discovery and development of novel small molecule
therapeutics, today announced that Dr. Joseph A. Mollica, Chairman of the Board
and Interim President and Chief Executive Officer, will deliver a corporate
presentation at the BMO Capital Markets 8th Annual Focus on Healthcare
Conference. The conference will be held August 5-6, 2008, at the Millennium
Broadway Hotel in New York, NY.

Dr. Mollica's presentation will take place at 9:30 a.m. EDT on Tuesday, August
5th. The presentation will include an overview of the company's drug development
pipeline including an update on its clinical studies with PS433540, recent
corporate accomplishments and upcoming milestones. A live webcast and 90-day
archive of the presentation can be accessed via www.pharmacopeia.com.

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
nine 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, Schering-Plough, and Wyeth Pharmaceuticals.
For more information please visit the company's website at
http://www.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 ability to
successfully perform under its collaboration with GlaxoSmithKline,
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 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 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 raise
additional capital, Pharmacopeia's anticipated operating results, financial
condition, liquidity and capital resources, Pharmacopeia's ability to
successfully perform under its other collaborations with Bristol-Myers Squibb,
Cephalon, Schering-Plough and Wyeth, 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.

-0-
CONTACT: Pharmacopeia, Inc.
Amy P. Sharpless
(609) 452-3643
ir_pr@pcop.com