CollaGenex Pharmaceuticals Receives Top Ranking in Deloitte & Touche 'Fast 50;' Honors Awarded to Eastern Pennsylvania's Fastest-Growing Technology Companies.

Business Editors

NEWTOWN, Pa.--(BUSINESS WIRE)--Nov. 7, 2001

CollaGenex Pharmaceuticals, Inc. (Nasdaq:CGPI) today announced that it has recently been named the fastest growing technology company in Deloitte & Touche's "2001 Eastern Pennsylvania Technology Fast 50" program. Rankings were based on total revenue growth in the five-year period from 1996 to 2000. CollaGenex's revenues during this period increased by 5,968%, from $400,000 in 1996 to $24.3 million in 2000.

"We are honored to have been chosen by Deloitte & Touche as the fastest growing technology company in Eastern Pennsylvania," said Brian M. Gallagher, PhD, chairman, president and chief executive officer of CollaGenex. "This accomplishment affirms the quality of our specialty pharmaceutical products, our growth strategy, and the dedication of our employees."

CollaGenex Pharmaceuticals, Inc. is a specialty pharmaceutical company currently focused on providing innovative medical therapies to the dental market. The Company's lead product, Periostat(R), was approved by the FDA in September 1998 and is the first and only pharmaceutical to treat periodontal disease by inhibiting the enzymes that destroy periodontal support tissues. Periostat is marketed to the dental community by CollaGenex through a professional pharmaceutical sales force composed of approximately 120 sales representatives and managers. Currently, the Company's dental sales force is also marketing Atridox(R), an Atrix Laboratories product to treat adult periodontitis, Atrisorb(R), an Atrix guided tissue regeneration product, Vioxx(R), a Merck & Co. drug that CollaGenex co-promotes for the treatment of acute dental pain, and Dentaplex(TM), a unique formulation of vitamins and mineral supplements developed by CollaGenex and MediNiche, Inc. to promote oral health.

Research has shown that the enzyme suppression technology underlying Periostat may also be applicable to other diseases involving destruction of the body's connective tissues, including cancer metastases (Metastat) and a broad range of inflammatory diseases. CollaGenex is developing a series of novel, proprietary compounds known as IMPACS (Inhibitors of Multiple Proteases and Cytokines) to address these applications. The Company intends to pursue further research and development of these technologies primarily through partnerships with third parties.

To receive additional information on the Company, please visit our Web site at www.collagenex.com, which is not a part of this press release.

Periostat(R), Metastat(R), IMPACS(R) and Dentaplex(TM) are trademarks of CollaGenex Pharmaceuticals, Inc.

CollaGenex(R) and Periostat(R) are trademarks of CollaGenex International Limited.

VIOXX(R)is a trademark of Merck & Co., Inc.

Atridox(R)and Atrisorb(R)are trademarks of Atrix Laboratories, Inc.