Heptares Therapeutics Extends Multi-FTE Chemistry Collaboration With Oxygen Healthcare (O2h)

CAMBRIDGE, England, May 25, 2010 - Executives from Heptares Therapeutics (Welwyn Garden City, UK)
and O2h (Cambridge, UK) announced today an extension of the agreement under
which O2h provides multi-FTE -synthetic chemistry services to support
discovery programmes at Heptares.

Dr. Miles Congreve, Head of Chemistry said, "We are happy to have signed
this new contract with O2h; they have been a solid chemistry partner and have
also supported us with some basic ADME, which helps to reduce discovery cycle
times."

Sunil Shah, CEO, O2h "We have had a successful partnership with Heptares
Therapeutics and are delighted at this extension for the third year. Heptares
has a very innovative technology that we are happy to have supported since
inception and believe will lead to new GPCR drugs being discovered."

About Oxygen Healthcare Ltd

O2h is a 5 year old discovery services company co-located in Cambridge,
UK and Ahmedabad, India. The Indian operations provide a high level of
chemistry expertise while UK office provides project management support.
Current clients of O2h include several top 20 pharmaceutical and
biotechnology companies in the US, Europe and Japan. O2h adheres to the
highest standards of performance with a particular emphasis on rapid
interactive communications and delivery speed. Services provided by O2h
include FTE-based synthetic chemistry, medicinal chemistry, computational
chemistry, full services lab-units and ADME. Further information on O2h can
be found at www.o2h.com.

About Heptares Therapeutics

Heptares is a drug discovery company focused on identifying
novel drug candidates targeting validated G-protein-coupled receptors (GPCRs)
in several disease areas. Based on its unique StaR(TM) technology platform,
Heptares has built an integrated drug discovery capability and aims to
progress promising candidates internally and through strategic alliances.

GPCRs are the single most important family of drug targets in
the human body, but because of their inherent instability they are refractory
to structural studies and biochemical screening. StaR technology enables the
engineering of stabilised GPCRs, making them amenable to these vital drug
discovery approaches. There are many clinically relevant GPCR targets across
a wide range of therapeutic areas where discovery is advancing slowly and for
which structural information, novel screening approaches and potential
antibody therapeutics would greatly enhance progress.

Heptares was founded in 2007 and its StaR technology arose out
of the pioneering work of Heptares' founding scientists at the MRC Laboratory
of Molecular Biology (Cambridge, UK) and the National Institute for Medical
Research (London, UK).

For more information, see www.heptares.com

    Contact information:

    Dr. Ekta Ahuja
    info@o2h.com
    OXYGEN HEALTHCARE LTD
    23 Cambridge Science Park
    CB4 0EY

    Dr. Miles Congreve
    Heptares Therapeutics
    BioPark
    Broadwater Road
    Welwyn Garden City
    Herts, AL7 3AX

Contact information: Dr. Ekta Ahuja, info at o2h.com, OXYGEN HEALTHCARE LTD,
23 Cambridge Science Park, CB4 0EY, +44-(0)1223-437014; Dr. Miles Congreve, Heptares Therapeutics, BioPark, Broadwater Road, Welwyn Garden City, Herts, AL7 3AX