Coley Pharmaceutical Group and Pfizer Nominate Additional Anti-Cancer Compound for Clinical Development

- Pfizer-funded Screening Agreement Fuels Discovery of Novel Compounds, Complements Clinical Development Initiatives with PF-3512676 -

WELLESLEY, Mass., October 30, 2007 /PRNewswire-FirstCall/ -- Coley Pharmaceutical Group, Inc. , a biopharmaceutical company discovering and developing a novel class of drug candidates known as TLR Therapeutics(TM), announced today that Pfizer Inc, its global collaborator in the area of cancer, has nominated a second TLR9 agonist compound discovered by Coley for future clinical development against cancers. This second generation drug candidate is expected to complement Pfizer's ongoing clinical programs for PF-3512676, Coley's lead therapeutic TLR9 agonist drug candidate, for the treatment of cancer.

"Our ability to discover and develop a variety of pharmacologically unique TLR9 agonist compounds demonstrates our dexterity in drug development, as well as the breadth of our TLR Therapeutics technology platform," stated Robert L. Bratzler, Ph.D., President and Chief Executive Officer for Coley Pharmaceutical Group. "Pfizer's selection of this new development candidate is a strong testament to the potential of targeting the TLR9 pathway and reflects Pfizer's commitment to discovering and advancing TLR Therapeutic candidates capable of stimulating the immune system to combat cancer."

The new development candidate was discovered by Coley under the two companies' strategic agreement in which Pfizer funds the discovery and development of potential next-generation TLR9 agonists for cancers, including cancer vaccines. Pfizer has exclusive rights to two novel compounds discovered under this agreement, while Coley retains the rights to all other molecules. To date, Coley has designed and characterized nearly 60 unique compounds, each of which elicits a distinct immune stimulatory profile based on its interaction with TLR9. The newly nominated compound, which is the first of two development candidates, will now undergo preclinical studies to further assess its pharmacokinetic and toxicology profiles before advancing into clinical trials.

Pfizer is currently investigating PF-3512676 in combination with non-cytotoxic anti-cancer agents. A Phase II clinical trial evaluating PF-3512676 in combination with Tarceva(R) for the treatment of refractory non-small cell lung cancer, and a Phase I clinical trial evaluating PF-3512676 in combination with Pfizer's anti-CTLA4 antibody, tremelimumab, for the treatment of advanced melanoma are both underway. Pfizer is currently planning additional clinical trials with PF-3512676 to evaluate its safety and potential efficacy in other cancer indications.

About Coley Pharmaceutical Group

Coley Pharmaceutical Group, Inc. is an international biopharmaceutical company, headquartered in Wellesley, Massachusetts, USA, that discovers and develops TLR Therapeutics(TM), a new class of investigational drug candidates that direct the human immune system to fight cancers, allergy and asthma disorders, and autoimmune diseases and to enhance the effectiveness of vaccines. Coley has established a pipeline of TLR Therapeutic product candidates currently advancing through clinical development with partners and has additional product candidates in preclinical development. Coley has product development, research and license agreements with Pfizer, sanofi- aventis, GlaxoSmithKline, Merck, Novartis Vaccines and the United States government. For further information on Coley Pharmaceutical Group please visit www.coleypharma.com.

Safe Harbor Statement

Certain statements in this news release concerning Coley's business are considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Any or all of the forward-looking statements in this press release may turn out to be wrong. They can be affected by inaccurate assumptions Coley might make or by known or unknown risks and uncertainties, including, but not limited to: the early stage of product development; uncertainties as to the future success of ongoing and planned clinical trials; the risk that results from early stage clinical trials may not be indicative of results in later stage trials; the unproven safety and efficacy of products under development; intellectual property rights and litigation; competitive products; and other risks identified in Coley's filings with the Securities and Exchange Commission including, but not limited to, Coley's Annual Report on Form 10-K for the fiscal year ended December 31, 2006. Consequently, no forward-looking statement can be guaranteed, and actual results may vary materially. Coley undertakes no obligation to publicly update forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.

CONTACT: Investors, Susan Hager, Senior Director, Investor Relations andCorporate Communications of Coley Pharmaceutical Group, Inc.,+1-781-431-9019, ; Media, Karen L. Bergman,+1-650-575-1509, , or Michelle Corral,+1-415-794-8662, , both of BCC Partners (US), allfor Coley Pharmaceutical Group, Inc. shager@coleypharma.com kbergman@bccpartners.com mcorral@bccpartners.com

Web site: http://www.coleypharma.com/

Ticker Symbol: (NASDAQ-NMS:COLY)

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Posted: October 2007


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