Saegis Pharmaceuticals, Inc. Names Annette Madrid Vice President, Clinical.

Business Editors/Health/Medical Writers

HALF MOON BAY, Calif.--(BUSINESS WIRE)--Dec. 17, 2003

Saegis Pharmaceuticals, Inc., a privately held biopharmaceutical company focused on developing medicines that protect and enhance the function of the human mind, today announced that

"Annette Madrid will tap her considerable experience in directing CNS clinical research as she oversees advanced clinical development of our lead compound in Alzheimer's disease," said Rodney Pearlman, Ph.D., president and CEO of Saegis Pharmaceuticals. "Her contributions will balance the strength of our management team in target identification and drug discovery, ensuring a smooth transition to the clinic of our growing portfolio of novel therapies for disorders of memory and cognition."

Dr. Madrid was most recently Director of Clinical Research and Development at Alza Corporation, where she was responsible for CNS clinical development and oversight of clinical programs in other areas, including acute pain treatment and palliative cancer care. Previously, she worked at Pfizer, Inc. on projects in the CNS area. Prior to joining Pfizer, she completed a research fellowship in pediatric psychopharmacology at Yale University while serving as a unit director for Riverview Hospital for Children and Youth in Middletown, Connecticut.

Dr. Madrid earned her medical degree and a Bachelor of Science in Pharmacy degree from the University of New Mexico. She is board certified in General and Child and Adolescent Psychiatry.

"This is an exciting opportunity to join in the pursuit of useful and well-tolerated treatments for age-related cognitive decline," said Dr. Madrid. "I am eager to apply insights from my work in developmental psychiatry and psychopharmacology to the challenging task of broadening our understanding of how to treat disorders of memory and cognition effectively."

Founded in 1999, Saegis Pharmaceuticals is a pioneer in the development of medicines that protect and enhance the function of the human mind. Through licensing activity, development partnerships and internal discovery programs, Saegis Pharmaceuticals is building a portfolio of compounds with activity against a range of disorders of the brain and central nervous system, including Alzheimer's disease, mild cognitive impairment, and cognitive impairment associated with schizophrenia. Currently the Company has three orally available small molecule compounds in clinical development, two of which have already demonstrated efficacy and safety in humans. These development activities are supported by investments in Saegis Pharmaceuticals by Versant Ventures, Technology Partners, Sofinnova Ventures (U.S.), Sofinnova Partners (Paris), Polaris Ventures, and NeuroVentures. For more information, visit www.saegispharma.com.