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SCYNEXIS, Inc. Announces Research Collaboration with Merck & Co., Inc. For Discovery Of Novel Anti-infective Agents

RESEARCH TRIANGLE PARK, N.C. (June 26, 2002) - SCYNEXIS, Inc. announced today that it has entered into a multi-year research collaboration with Merck & Co., Inc. (NYSE: MRK) to discover and develop novel anti-infective compounds. Utilizing its proprietary MEDCHEM-FACTORY® technology, SCYNEXIS will accelerate the identification of novel drugs against Merck's screening targets by producing large, highly targeted, high-purity compound libraries utilizing rapid lead optimization to develop novel candidates for clinical evaluation.

Merck will receive exclusive worldwide rights to products developed through the collaboration. SCYNEXIS will receive milestone payments as products are developed and royalties on sales of commercialized products resulting from the collaboration. Other financial terms of the collaboration were not disclosed.

“SCYNEXIS is very pleased to build upon its existing relationship with Merck. This collaboration is recognition of SCYNEXIS' innovative technologies that will be directed toward the discovery and development of novel anti-infective compounds” said Dr. Yves J. Ribeill, President & CEO of SCYNEXIS.

About SCYNEXIS
SCYNEXIS is headquartered in Research Triangle Park, North Carolina with European operations, SCYNEXIS Europe Ltd., located near Cambridge, England. By combining its chemists' expertise with its proprietary MEDCHEM-FACTORY® technology and Hit Explorer Operating System (HEOS®), SCYNEXIS is increasing the productivity and speed of the pharmaceutical discovery process. As an innovator in the field of high-speed synthesis with special expertise in the area of automation, SCYNEXIS is reshaping the process of discovery and optimization of new, promising chemical compounds.

SCYNEXIS provides a full range of highly integrated synthetic chemistry processes and technologies to the life sciences industry - From Concept to Clinic™ - representing the next step in the industrialization of the drug discovery process. SCYNEXIS offers, in addition to its patented MEDCHEM-FACTORY® technology, novel hit generation compounds, hit explosion and lead optimization services as well as process optimization, the production of clinical samples in its GMP facility and radiochemistry synthesis services. For more information, please visit www.scynexis.com.

Media Contacts:

SCYNEXIS:
Rick Rountree
Rick Rountree Communications
(919) 878-1144
rick@rickrountree.com

Business Development Contacts:

SCYNEXIS:
In the U.S.:
Terry Marquardt
(919) 544-8600
terry.marquardt@scynexis.com
In Europe:
Dr. Hans Fliri
+ 44 (0) 1277 367 002
hans.firi@scynexis.com

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