PRINCETON, N.J., Oct. 28, 2008 (GLOBE NEWSWIRE) -- Ligand Pharmaceuticals Incorporated (Nasdaq:LGND) and Pharmacopeia (Nasdaq:PCOP), an innovator in the discovery and development of novel small molecule therapeutics, today announced that John L. Higgins, President and Chief Executive Officer of Ligand, and Dr. Joseph A. Mollica, Interim President and Chief Executive Officer of Pharmacopeia, will deliver a presentation at the Oppenheimer 19th Annual Healthcare Conference. Recently, Ligand and Pharmacopeia entered into a definitive merger agreement, under which Ligand will acquire Pharmacopeia.
The conference will be held November 3-4, 2008, at the Waldorf-Astoria Hotel in New York, New York. Ligand's and Pharmacopeia's presentation will take place at 9:20 a.m. Eastern time on Monday, November 3, 2008. A live webcast and 90-day archive of the presentation can be accessed at Ligand's web site at www.ligand.com and through Pharmacopeia's web site at www.pharmacopeia.com.
Ligand and Pharmacopeia entered into the definitive merger agreement on September 24, 2008. This transaction is expected to close by the fourth quarter of 2008 and is subject to the approval of Pharmacopeia's stockholders and antitrust regulatory clearance, as well as other customary closing conditions.
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 diabetic nephropathy, muscle wasting and inflammation. 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.
About Ligand Pharmaceuticals
Ligand discovers and develops new drugs that address critical unmet medical needs of patients with thrombocytopenia, hepatitis C, hormone-related diseases, osteoporosis, inflammatory diseases and anemia. Ligand's proprietary drug discovery and development programs are based on its leadership position in gene transcription technology.
Forward-Looking Statements
This release contains forward-looking statements that involve risks and uncertainties. Ligand and Pharmacopeia caution readers that any forward-looking information is not a guarantee of future performance and actual results could differ materially from those contained in the forward-looking information.
