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Penwest to Present at C.E. Unterberg, Towbin Emerging Growth Conference.

DANBURY, Conn., June 28 /PRNewswire-FirstCall/ -- Penwest Pharmaceuticals Co. today announced that Jennifer Good, President and Chief Executive Officer of Penwest, is scheduled to present at the C.E. Unterberg, Towbin Emerging Growth Conference. The conference is being held on July 11th and 12th, 2006, at the Mandarin Oriental hotel in New York City.

Ms. Good is scheduled to present on Tuesday, July 11th, at 1:44 p.m. Eastern Daylight Time.

Penwest Pharmaceuticals

Penwest develops pharmaceutical products based on innovative proprietary drug delivery technologies. We are focusing our development efforts principally on products that address disorders of the nervous system. The foundation of our technology platform is TIMERx (R), an extended release delivery system that is adaptable to soluble and insoluble drugs and that is flexible for a variety of controlled release profiles. We have also developed two additional oral drug delivery systems, Geminex(R) and SyncroDose(TM). Geminex(R) is a dual release rate drug delivery system that is designed to provide independent release of different active ingredients contained in a drug, and SyncroDose(TM) is a drug delivery system that is designed to release the active ingredient of a drug at the desired site and time in the digestive tract.

The matters discussed herein contain forward-looking statements that involve risks and uncertainties, which may cause Penwest's actual results in future periods to be materially different from any future performance suggested herein. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words, "believes," "anticipates," "plans," "expects," "intends," "potential," and similar expressions are intended to identify forward-looking statements. Important factors that could cause results to differ materially include: the risk that oxymorphone ER will not be accepted by the medical community; dependence on collaborators such as Endo Pharmaceuticals to, among other things, sell products for which the Company receives royalties; regulatory risks relating to drugs in development such as, torsemide ER, nalbuphine ER, and venlafaxine ER, including the timing and outcome of regulatory action; uncertainty of success of collaborations; the timing of clinical trials and whether the results of clinical trials will warrant further clinical trials, warrant submission of an application for regulatory approval of, or the regulatory approval of, the product that is the subject of the trial; actual and potential competition; the need for capital; and other risks as set forth under the caption Risk Factors in Penwest's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 9, 2006, which risk factors are incorporated herein by reference. Penwest disclaims any intention or obligation to update any forward-looking statements.
 Contacts: Investors: Media:
 Diane D'Alessandro Caroline Gentile/Jim Fingeroth
 (203) 796-3706 Kekst and Company
 (877) 736-9378 (212) 521-4800



CONTACT: Investors: Diane D'Alessandro, +1-203-796-3706, +1-877-736-9378; Media: Caroline Gentile/Jim Fingeroth, +1-212-521-4800, both of Kekst and Company, all for Penwest Pharmaceuticals
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Publication:PR Newswire
Geographic Code:1USA
Date:Jun 28, 2006
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