CollaGenex Pharmaceuticals to Host Third Quarter 2007 Financial Results Conference Call on November 6th.

NEWTOWN, Pa. -- CollaGenex Pharmaceuticals, Inc. (NASDAQ:CGPI) today announced that it will hold a conference call on Tuesday, November 6, 2007, at 11:00 a.m. Eastern Time to discuss the Company's third quarter 2007 financial results. A press release announcing the Company's financial results will be released before the market opens on Tuesday, November 6, 2007.

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 90 days. Additionally, a recording of the call will be available by telephone until 11:59 p.m. on November 13, 2007 by dialing [phone] in the U.S. or [phone] internationally, and entering access code: 9383909.

About CollaGenex

CollaGenex Pharmaceuticals, Inc. is a specialty pharmaceutical company currently focused on developing and marketing innovative proprietary 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 also recently completed Phase 2 clinical trials to evaluate COL-118, a topical compound based on the SansRosa(TM) technology, for the treatment of erythema associated with rosacea. CollaGenex's professional dermatology sales force also markets Pandel(R), a prescription topical corticosteroid licensed from Altana, Inc., Alcortin(TM) (1% iodoquinol and 2% hydrocortisone), a prescription topical antifungal steroid combination, and Novacort(TM) (2% hydrocortisone acetate and 1% pramoxine HCl), a prescription topical steroid and anesthetic. Alcortin and Novacort are marketed by the Company under a Promotion and Cooperation agreement with Primus Pharmaceuticals, Inc.

Research has shown that new compounds can be created by chemically modifying certain tetracyclines and that these new compounds have properties that may make them effective in treating diseases involving inflammation and/or destruction of the body's connective tissues. CollaGenex is evaluating various of these compounds (so called "IMPACS(TM)" compounds because they are Inhibitors of Multiple Proteases And CytokineS) to assess whether they are safe and effective in these applications. The Company has a pipeline of innovative product candidates with possible applications in dermatology and other disease states. In addition, CollaGenex has acquired the SansRosa(TM) technology, which consists of a class of compounds that have shown promise in reducing the erythema associated with rosacea, and the Restoraderm(R) technology, a unique, proprietary dermal drug delivery system. In May, 2007 CollaGenex acquired a license from QuatRx Pharmaceutical Company to develop and commercialize becocalcidiol, a patented Vitamin D analogue currently in Phase II Clinical trials for the topical treatment of mild to moderate psoriasis. CollaGenex plans to leverage these platforms to develop a range of topical dermatological products with enhanced pharmacologic and cosmetic properties.

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

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

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

Pandel(R) is a registered trademark of Taisho Pharmaceuticals.

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 our subsidiaries.