Cubist Pharmaceuticals Announces Extension of Novartis Collaboration and Achievement of Third Milestone.

Business Editors & Health/Medical Writers

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LEXINGTON, Mass.--(BW HealthWire)--Feb. 27, 2002

Cubist Pharmaceuticals, Inc. (Nasdaq: CBST) today announced a one-year extension of its antiinfective drug discovery collaboration with Novartis Pharma AG, which uses Cubist's proprietary VITA(TM) (Validation In vivo of Targets and Assays for Antiinfectives) technology. Cubist also announced the achievement of a third milestone in the collaboration, which will result in an undisclosed payment to Cubist for the delivery of another validated target and high-throughput screening assay to be used in antiinfective drug discovery.

Cubist and Novartis originally entered into this partnership in February 1999 to validate and develop assays for antiinfective targets and to identify new compounds for development as antiinfective agents. Novartis was granted a non-exclusive license to the VITA technology and exclusive licenses to specific targets, assays and compounds. As in the previous years of the collaboration, Novartis will provide Cubist with research funding throughout the fourth year.

George H. ("Skip") Shimer, Ph.D., Vice President of Research at Cubist, commented: "We believe the extension of this collaboration speaks directly to the success of our joint efforts to date and look forward to another year of research with Novartis. Combining the three novel validated antiinfective targets now undergoing screening at Novartis with the handful undergoing screening in-house at Cubist, we have significantly expanded our research pipeline. We are optimistic that one or more of these programs could enter formal medicinal chemistry and pre-clinical evaluation programs."

VITA couples the validation of antiinfective targets during an established infection in animal models of infectious disease with assay development to discover novel drug leads that act on therapeutically relevant targets. The assay is broadly applicable to any target, including those targets of known function, which have been traditionally intractable to high-throughput screening paradigms, and to proteins of unknown function. Quality, small-molecule lead compounds that bind to functionally relevant sites on validated targets are identified via high-throughput screening to form the basis of medicinal chemistry programs. VITA increases the confidence level that the ensuing medicinal chemistry programs are focused on therapeutically relevant targets resulting in significant resource and cost savings throughout the discovery and development process.

Under the terms of the agreement, Novartis would optimize any drug candidates and conduct appropriate pre-clinical testing. The work conducted under the collaboration is reviewed by a management committee composed of representatives from both companies. Products resulting from this effort will be clinically developed and commercialized worldwide by Novartis, with Cubist receiving clinical milestones and royalties on sales.

Cubist Pharmaceuticals, Inc. is focused on becoming a global leader in the research, development and commercialization of novel antimicrobial drugs to combat serious and life-threatening bacterial and fungal infections. Cubist is evaluating the safety and efficacy of Cidecin(R) (daptomycin for injection) in the EDGE(TM) (Evaluation of Daptomycin against Gram-positive Entities) clinical trial program and has broadened its pipeline to include multiple pre-clinical drug candidates. The Company is engaged in strategic partnerships with Novartis Pharma AG and Merck & Co. for the discovery and development of novel antiinfectives and with Gilead Sciences for the commercialization of daptomycin in Europe. Cubist is headquartered in Lexington, MA and has operations in Vancouver, BC, Canada and Slough, UK.

Cubist Safeharbor Statement

Statements contained herein that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements made by the Company. These factors include, but are not limited to: (i) the Company's ability to successfully complete product research and development, including pre-clinical and clinical studies and commercialization; (ii) the Company's ability to obtain required governmental approvals; (iii) the Company's ability to attract and/or maintain manufacturing, sales, distribution and marketing partners; and (iv) the Company's ability to develop and commercialize its products before its competitors. Additional factors that would cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in the Company's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in the Company's recent SEC filings.

Cidecin(R) (daptomycin for injection), VITA(TM) and EDGE(TM) are trademarks of Cubist Pharmaceuticals, Inc.

Additional information can be found at the Company's web site at www.cubist.com or at www.noonanrusso.com.