Cypros Pharmaceutical Receives Notice of Allowance on Key Patent for Use of Cordox in Sickle Cell Disease.

CARLSBAD, Calif.--(BUSINESS WIRE)--Sept. 24, 1998--Cypros Pharmaceutical Corporation (AMEX:CYP) announced today that it received a notice of allowance from the United States Patent and Trademark Office of all claims of a patent application which broadly covers the use of Cordox(tm) in the treatment of sickle cell disease ("SCD") patients.

The patent greatly extends the Company's exclusive rights to Cordox for a period of 19 years (2017). There are currently no direct therapies for the painful, acute crisis in SCD patients and the potential market for an effective drug is expected to be large.

Cordox is in late-stage clinical development for the treatment of acute vaso-occlusive episodes ("VOE") in sickle cell anemia patients. Sickle cell anemia is the most prevalent known genetic disorder affecting, in its most severe form, approximately 80,000 patients in the United States. The VOE results in severe pain caused by blocked blood vessels (ischemia) which results in progressive tissue loss with successive events. Patients can have multiple VOE's during a year and suffer substantial morbidity with significantly reduced life expectancy as a result. Rather than simply block pain, as the currently used narcotic pain killers do, Cordox is believed to reduce the organ damage caused by the VOE. Cordox has also been shown to be beneficial in a number of other ischemic disorders, such as bypass surgery, congestive heart failure and acute myocardial infarction patients. Cypros is developing the drug in a number of ischemic indications in addition to VOE.

Commenting on the patent, Paul J. Marangos, Ph.D., chief executive officer of Cypros, stated, "The allowance of this patent only 11 months after filing is a highly significant event since it greatly expands our proprietary position in sickle cell disease. We have been highly successful in expanding our patent coverage of Cordox in a broad range of ischemic and inflammatory disorders."

Cypros Pharmaceutical is engaged in the development and marketing of drug products for the hospital market. The Company is pursuing a diversified strategy of marketing approved drugs and developing small molecule therapeutics that protect cells from ischemic injury. The Company currently has three products on the market, Glofil, Inulin and Ethamolin(r); is preparing to launch two proprietary, extended-release wound-care products; and, is developing its two lead drugs, Cordox(tm) and Ceresine(tm), for a variety of ischemic disorders.

This news release contains forward looking statements which involve risks and uncertainties. Such statements are subject to certain factors which may cause the Company's plans to differ. Factors that may cause such difference include, but are not limited to, the risks discussed in the Company's Form 10-K for the fiscal year ended July 31, 1997, and the Risk Factors section of the Company's Registration Statement No. 333-25661.