Press Release 2008

                                                                  PsychoGenics Announces Positive Phase-IIa for its First-in-Class Partial 5-HT1A – 5-HT1B Receptor Agonist in ADHD

                                                                  Tarrytown, N.Y., June 02, 2008 - PsychoGenics Inc. today announced positive data from its randomized, placebo controlled, multicenter, Phase IIa trial of eltoprazine, the company’s lead partial 5-HT1A – 5-HT1B receptor agonist, in adult patients with Attention Deficit/ Hyperactivity Disorder (ADHD). The primary objective of the exploratory study was to compare the effects of two doses of eltoprazine with placebo in a cross-over design on the symptoms of ADHD in adults using the total scores from the ADHD Rating Scale-Version IV.Read More.

                                                                  PsychoGenics Expands Drug Discovery Relationship With Eli Lilly and Company

                                                                  Tarrytown, NY, Jan 31, 2008 - PsychoGenics Inc. today announced that it has entered into an additional drug discovery agreement with Eli Lilly and Company (NYSE:LLY). Per the agreement, Lilly will supply pre-candidate compounds that PsychoGenics will evaluate using its proprietary drug discovery technologies, for the treatment of neuropsychiatric disorders.Read More.