KALYPSYS ANNOUNCES NEW ADDITIONS TO MANAGEMENT TEAM

10/23/2003

Kalypsys, Inc., today announced key appointments to its scientific management team. Stewart Noble, Ph.D., joins Kalypsys as Director of Chemistry and Tadimeti Rao, Ph.D., as Director of Pharmacology and Preclinical Development.

Dr. Noble comes to Kalypsys from Pharmacia where, as a member of the global chemistry leadership team and as Senior Director of Chemistry, he oversaw Pharmacia's arthritis, inflammation and pain programs. Prior to joining Pharmacia, Dr. Noble's industry experience includes senior positions at G.D. Searle, Synaptic Pharmaceutical Corporation and Glaxo, Inc. In more than 20 years of pharmaceutical research, Dr. Noble has contributed to the discovery and development of over fifteen product candidates, including the HIV/HBV drug Epivir®. He holds 24 issued and pending patents.

Dr. Rao brings 16 years of pharmaceutical company experience to Kalypsys. Most recently, he served as Senior Research Fellow at Merck, where he played a leading role in programs in immunology, inflammation, neuropsychiatry and neurodegenerative diseases. Previously, Dr. Rao served as Associate Director of Research at SIBIA Neurosciences and as Senior Research Investigator at G.D. Searle, where he contributed to the early discovery efforts on COX-2 inhibitors. Dr. Rao has published more than 80 peer-reviewed papers and has contributed to the discovery of six product candidates.

"In our first 18 months of operation, we have used our proprietary technologies to identify small molecule targets and several series of novel chemical leads. Stewart and Rao's strategic leadership and proven ability to translate leads into drugs will accelerate the transformation of those discovery leads into clinical candidates, " said John McKearn, CSO. "Their expertise will be instrumental in enabling us to achieve our goal of building a sustainable development pipeline."

About Kalypsys

Kalypsys is a biopharmaceutical company that uses advanced automation technologies to first evaluate drug candidates in cellular models of disease and then optimize the safety and efficacy of select candidates. Through the use of its technology, Kalypsys is able to make better decisions earlier in the discovery process. Kalypsys is developing drug leads in multiple therapeutic areas including cancer, inflammation, metabolic diseases and cardiovascular disorders. In addition to carrying out drug discovery programs based on internal research, Kalypsys seeks to enhance partners' discovery programs through technology transfer or collaborative relationships. Kalypsys completed a $43 million series A financing round in April of 2002, led by the Sprout Group, co-led by Tavistock Life Sciences and including CMEA Ventures, Lombard Odier Darier Hentsch & Cie, 5AM Ventures, Novartis Bioventure Fund, Aravis Ventures, Alejandro Zaffaroni and the Singapore E.D.B.

For more information on Kalypsys, please visit http://www.kalypsys.org.

For further information please contact: Pratik Shah, Ph.D. of Kalypsys, +1-858-754-3333; or Liz Thompson, Ph.D. of Atkins + Associates, +1-858-527-3492, for Kalypsys.