SGX Pharmaceuticals, Inc. (SGXP)

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SGX Pharmaceuticals Provides Update on SGX523 Clinical Trials
Thursday March 27, 6:00 am ET
Company Presents Today at BioCentury Future Leaders Conference

SAN DIEGO, March 27 /PRNewswire-FirstCall/ -- SGX Pharmaceuticals (Nasdaq: SGXP - News) is providing an update today on the SGX523 clinical program.

In January 2008, the Company initiated two parallel, multi-center Phase 1 clinical trials of SGX523 in patients with solid tumor cancers. The first trial has been designed to examine twice daily, oral dosing on a continuous 28-day cycle and the second trial has been designed to examine interrupted dosing (a repeating 21 day cycle of 14 days on therapy followed by 7 days off).

In both trials, the Company observed dose limiting toxicity earlier than anticipated. The toxicity is of a nature that was not anticipated based on the preclinical profile of SGX523. The interrupted dosing trial started at a higher dose than the continuous dosing trial and no patients are currently receiving treatment on the interrupted dosing trial. In the continuous dosing trial, patients are continuing to be treated at a lower dose level, and the Company is evaluating the safety and efficacy of treatment at that dose level.

"From the initial clinical data, the profile of SGX523 appears to be different than the preclinical data would suggest," said Mike Grey, president and chief executive officer of SGX Pharmaceuticals. "On the continuous dosing trial, patients continue on study at the initial dose and we may explore whether alternative doses and schedules are safe and efficacious. We continue the preclinical development of the BCR-ABL inhibitor SGX393 and the second MET inhibitor SGX126. In addition, we are targeting the identification of two development candidates this year from our drug discovery programs to further enhance our pipeline."

Mr. Grey will be updating the investor community at 9:00 A.M. Eastern Daylight Time today at the BioCentury Future Leaders in the Biotech Industry Conference at the Millennium Broadway Hotel and Conference Center in New York City. A live webcast of the presentation will be available under the investor relations section of the Company's website at http://www.sgxpharma.com.