Cypress Bioscience is committed to developing and commercializing pharmaceutical products and personalized medicine laboratory services that allow physicians to serve unmet medical needs.

Cypress is developing milnacipran for fibromyalgia (FM) and with our recent acquisition of Proprius Pharmaceuticals, Inc., we have expanded our strategy to include providing personalized medicine laboratory services to rheumatologists.  We also intend to build a sales force to launch the personalized medicine laboratory services around late 2008. We have exercised the right granted by our partner, Forest Laboratories, Inc. to co-promote our leading product for FM, milnacipran, and intend to detail it to rheumatologists, pain centers, and physical and rehabilitation medicine specialists. Offering integrated diagnostic and therapeutic services through the same sales organization could facilitate physician access and improve the quality of the sales call, as well as help establish Cypress as a leader targeting these specific specialists.

We also have a number of Proof of Concept (POC) stage opportunities in development, including two pharmaceutical candidates acquired from Proprius, and intend to pursue these opportunities on an ongoing basis. We continue to evaluate various other potential strategic transactions, including the acquisition of products, product candidates, technologies and companies, and other alternatives.