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SIBIA Neurosciences Begins Phase 2 Clinical Trial of SIB-1508Y in Parkinson`s Disease Patients January 28, 1998 LA JOLLA, Calif., Jan. 27 -- SIBIA Neurosciences, Inc. (Nasdaq: SIBI) today announced that dosing of patients has begun in a Phase 2 clinical trial of its proprietary Parkinson's drug, SIB-1508Y. SIB-1508Y is a selective brain cholinergic agonist which is being developed as a novel therapeutic agent to treat the motor, cognitive and affective deficits in Parkinson's disease. The Phase 2 trial, being conducted with the Parkinson's Study Group, is a double-blind, placebo-controlled study in Parkinson's disease patients. The multiple-arm, multiple-dose study will evaluate the safety, tolerability and efficacy of several doses of SIB-1508Y administered orally either once- or twice-a-day. The efficacy evaluations will include both motor and cognitive endpoints. Currently available therapies only treat the motor deficits, and not the cognitive symptoms associated with Parkinson's disease. "This significant advancement of our lead compound through clinical studies is further evidence of the value of our advanced drug discovery technologies," stated William T. Comer, President and Chief Executive Officer of SIBIA Neurosciences. "Based on the findings from our earlier studies, we are optimistic about the potential of this new mechanistic approach to treat both the motor and cognitive deficits in Parkinsonian patients." SIB-1508Y has been shown in pre-clinical studies to regulate the release of dopamine and acetylcholine, neurotransmitters relevant to the fundamental deficits of Parkinson's disease. A deficit of dopamine has been shown to be a major factor in the onset and progression of Parkinson's disease, and acetylcholine is presumed to be important to cognitive dysfunction in the disease. In animal models for Parkinson's disease, SIB-1508Y exhibited a positive effect on both motor and cognitive deficits. Based on these studies, SIBIA believes that SIB-1508Y may offer advantages over currently available therapies that only treat the motor deficits, and not the cognitive and affective symptoms associated with Parkinson's disease. It is estimated that Parkinson's disease affects at least 1,000,000 people in North America, with approximately 60,000 new cases reported each year. SIBIA Neurosciences, Inc. is engaged in the discovery and development of novel small molecule therapeutics for the treatment of neurodegenerative, neuropsychiatric and neurological disorders, many of which have large patient populations and represent critical unmet medical needs. SIBIA is a leader in the development of proprietary drug discovery platforms that combine key tools necessary for modern drug discovery, including genomics, high throughput screening, advanced combinatorial chemistry techniques and pharmacology. The Company's proprietary molecular targets and drug candidates, together with its drug discovery technologies and research expertise, have enabled the Company to establish several corporate collaborations, which include Novartis AG, Bristol-Myers Squibb Company and Meiji Seika Kaisha, Ltd., and multiple technology licensing arrangements. This press release contains forward-looking statements that involve risks and uncertainties. As a result, actual results could differ materially from those discussed herein. These risks and uncertainties include SIBIA's early stage of development, the new and uncertain state of SIBIA's technologies, SIBIA's future capital needs and the uncertainty of receiving additional funding, uncertainties regarding patents, proprietary rights and regulatory matters, and other research, development and market risks. These and other risks and uncertainties are more fully set forth in SIBIA's most recently filed Form 10-Q and Registration Statement on Form S-1. SOURCE SIBIA Neurosciences, Inc. /CONTACT: Michael J. Dunn, Vice President, Business Development of SIBIA Neurosciences, Inc., 619-452-5892, ext. 223, E-mail: [log in to unmask]; or Rhonda Chiger (investors), Susan Farley (media), or Dewe Rogerson, 212-688-6840/ /Web site: http://www.sibia.com/ (SIBI)