Phase 2a MEM 1003 Alzheimer's Disease Trial

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Memory Pharmaceuticals Corp. (Nasdaq: MEMY) today announced that it has completed enrollment in its Phase 2a trial of MEM 1003 in Alzheimer's disease. The Company expects to report top-line results for this trial in the fourth quarter of 2007.

"Completion of enrollment in this trial is a key milestone in our Alzheimer's disease programs," said Stephen R. Murray, M.D., Ph.D., Vice President of Clinical Development. "We are excited that the MEM 1003 Phase 2a trial is nearing completion and are focused on reporting top-line results from both this trial, and our ongoing Phase 2a trial of MEM 3454 for Alzheimer's disease, in the fourth quarter of this year."

This Phase 2a clinical trial is a multi-center, randomized, double-blind, placebo-controlled study to evaluate the safety and efficacy of two dose levels of MEM 1003 in approximately 180 subjects with mild to moderate Alzheimer's disease at over 50 centers in the United States. Subjects participating in the study were randomized at enrollment into one of three treatment groups -- 30 mg of MEM 1003 twice a day, 90 mg of MEM 1003 twice a day or placebo twice a day. During the double-blind treatment segment of the study, subjects receive MEM 1003 or placebo for a period of 12 weeks, which is followed by a four week single-blind placebo treatment. The primary outcome measure of the trial is a twelve-week change in the Alzheimer's Disease Assessment Scale -- Cognitive subscale (ADAS - cog) score. Secondary measures will assess changes in activities of daily living, behavior and global function.

MEM 1003 is a neuronal L-type calcium channel modulator that Memory Pharmaceuticals is developing for the treatment of Alzheimer's disease. By blocking L-type calcium channels, MEM 1003 may regulate the flow of calcium and reestablish normal levels of calcium, which may help treat and prevent the onset of Alzheimer's disease.