CollaGenex Pharmaceuticals to Host Fourth Quarter and Full Year 2007 Financial Results Conference Call on March 12th.

NEWTOWN, Pa. -- CollaGenex Pharmaceuticals, Inc. (NASDAQ:CGPI) today announced that it will hold a conference call on Wednesday, March 12, 2008, at 11:00 a.m. Eastern Time to discuss the Company's fourth quarter and full year 2007 financial results. A press release announcing the Company's financial results will be released before the market opens on Wednesday, March 12, 2008.

Colin Stewart, president and chief executive officer of CollaGenex, and Nancy C. Broadbent, chief financial officer of CollaGenex, will host the conference call.

Investors and other interested parties may access the conference call by dialing [phone] in the U.S. or [phone] internationally, or via a live webcast on the Company's website at www.collagenex.com.

For those who cannot listen to the live broadcast, a replay will be available shortly after the call at www.collagenex.com for 30 days. Additionally, a recording of the call will be available by telephone until 11:59 p.m. on March 19, 2008 by dialing [phone] in the U.S. or [phone] internationally, and entering access code: 3853115.

About CollaGenex

CollaGenex Pharmaceuticals, Inc. is a specialty pharmaceutical company currently focused on developing and marketing proprietary, innovative medical therapies to the dermatology market. In July 2006, CollaGenex launched Oracea(R), the first FDA-approved systemic product for the treatment of rosacea. CollaGenex's professional dermatology sales force also markets Alcortin(R) (1% iodoquinol and 2% hydrocortisone), a prescription topical antifungal steroid combination, and Novacort(R) (2% hydrocortisone acetate and 1% pramoxine HCl), a prescription topical steroid and anesthetic. CollaGenex recently completed a Phase II clinical trial to evaluate COL-118, a topical compound based on the SansRosa(R) technology, for the treatment of redness associated with rosacea and other skin disorders. CollaGenex recently acquired the rights to develop and commercialize becocalcidiol, a patented Vitamin D analogue that is currently in Phase II clinical trials for the topical treatment of mild to moderate psoriasis.

For more information on CollaGenex please visit CollaGenex's Web site at www.collagenex.com, which does not form part of this press release.

Restoraderm((R)), SansRosa((R)) and Oracea((R)) are registered trademarks and IMPACS((TM)) is a trademark of CollaGenex Pharmaceuticals, Inc.

Novacort((R)) and Alcortin((R)) A are trademarks of Primus Pharmaceuticals, Inc.

All other trade names, trademarks or service marks are the property of their respective owners and are not the property of CollaGenex Pharmaceuticals, Inc. or any of its subsidiaries.