CUMBERLAND, RI--(BUSINESS WIRE)-December 3, 2003-Collegium Pharmaceutical, Inc., a closely held specialty pharmaceutical company, today announced that it has entered into a Product Development and Licensing Agreement with Endo Pharmaceuticals Inc. aimed at developing pain products with abuse deterrent properties. Collegium will employ its proprietary technology, DETERx™, to derive abuse deterrent formulations of opioids that can deliver the required analgesic effects while diminishing these drugs' potential for abuse. The collaboration provides for an upfront payment to Collegium as well as the potential for additional milestones and royalties contingent upon the successful launch of products incorporating the DETERx™ technology.

Prescription drug abuse is a large and growing problem. One of the most common methods of abuse is to alter the tablet form of certain opioids by crushing, chewing and then ingesting, injecting or inhaling the medication. To date, it has been difficult to develop an abuse deterrent version of an opioid. Collegium, with expertise in novel pharmaceutical formulation, recently filed a utility patent application for abuse deterrent pharmaceutical formulations of opioids and other drugs.

"Collegium is very pleased to collaborate on this important program with Endo Pharmaceuticals, an established leader in pain management. Pain medications such as opioid analgesics represent important treatments for patients in need. Society stands to benefit from the availability of safer forms of these vital products. We are excited that Endo shares our interest in exploring the potential for these product improvements," said Jane Hirsh, Chairman, Collegium Pharmaceutical.

"After reviewing numerous technologies for abuse deterrence, we have chosen Collegium as our development partner," said David A.H. Lee, M.D., Ph.D., Executive Vice President, Research & Development and Regulatory Affairs, Endo Pharmaceuticals. "The long-term possibilities of its DETERx™ technology appear quite promising, and we look forward to working together on this exploratory effort."

About Collegium Pharmaceutical, Inc.
Collegium Pharmaceutical, Inc., is a privately held pharmaceutical company focused on the development of proprietary, late stage pharmaceutical products for the rapidly growing reformulation market and related areas. The Company's products target market opportunities through product improvement and line extension strategies protected by intellectual property (IP), creating a portfolio of improved pharmaceutical products. Collegium uses its broad expertise in IP development, drug formulation, manufacturing, basic science (chemistry, biology, bioengineering), marketing and clinical trials management to identify and execute product opportunities across multiple therapeutic areas. For more information, visit the Company's website at www.collegiumpharma.com.

Contact:
Jessica Wolfe, Ph.D., MPH
Collegium Pharmaceutical
401-762-2000
jwolfe@collegiumpharma.com