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SCYNEXIS Signs A Drug Discovery Deal With Mitsubishi Pharma

RESEARCH TRIANGLE PARK, N.C. - (March 2, 2004) - SCYNEXIS announced today details of a new deal with Mitsubishi Pharma Corporation.

Under the terms of the agreement, SCYNEXIS will synthesise focused custom compound libraries to support Mitsubishi Pharma's work for hit compound discovery. Using SCYNEXIS' MEDCHEM-FACTORY® technology platform and HEOS® operating system, focused library synthesis work will be undertaken to develop high-purity compound libraries for subsequent screening by Mitsubishi Pharma at its facility in Japan.

This is the first such deal between SCYNEXIS and Mitsubishi Pharma. Terms have not been not disclosed.

Commenting on the development, a Mitsubishi Pharma senior research scientist said: "SCYNEXIS is one of the most technologically advanced chemistry service companies we have visited and has exceptional compound library purification and analytical capabilities".

Meanwhile, Yves J Ribeill, President and CEO of SCYNEXIS, Inc, said: "SCYNEXIS' MEDCHEM-FACTORY® technology platform and HEOS® operating system will prove invaluable as Mitsubishi Pharma continues with its drug discovery work. This latest deal concludes a very good year for SCYNEXIS during which we signed a number of agreements with leading international pharma and biopharma organisations, including Roche and Merck. It is positive proof about the quality of our people, our science and our technology."

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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