SAN DIEGO, Calif., May 5 /PRNewswire/ -- Trega Biosciences, Inc.
(Nasdaq: TRGA; formerly Houghten Pharmaceuticals, Inc. Nasdaq: HPI) and Torrey
Pines Institute for Molecular Studies (TPIMS) today announced the extension of
their combinatorial chemistry research agreement to April 1998, with the
option for Trega to extend the agreement for an additional three years.  Under
the terms of the collaboration, Trega will provide funding to TPIMS, in
exchange for research on the design and synthesis of small-molecule
combinatorial libraries and for an option to exclusively license inventions
from TPIMS.  This research agreement, established in 1992, has resulted in a
range of inventions including Positional Scan (U.S. Patent No. 5,556,762) - a
novel method for identifying active compounds from mixture-based libraries.
    Trega Biosciences is a drug discovery company, utilizing combinatorial
chemistry and other technologies to pursue the discovery of novel, small-
molecule drug therapies.  The company leverages its technology platform by
entering into pharmaceutical alliances, enabling partners to access Trega's
technologies in exchange for licensing fees and potential milestone payments
and royalties, or by establishing joint-discovery alliances with biotechnology
companies.  Trega also uses its drug discovery technologies in its internal
development programs.  HP 228, the company's lead compound, is in Phase II
trials for the treatment of inflammatory and metabolic diseases.
    TPIMS, headed by Richard A. Houghten, Ph.D. is a nonprofit biomedical
research institute focused on the development of combinatorial chemistry
techniques that can be applied to all compound types.  TPIMS is recognized
internationally as a leader in the field of combinatorial chemistry.
    Except for the historical information contained herein, the matters
discussed in this news release are forward-looking statements that involve
risks and uncertainties, including whether any new discoveries will be made
from the research collaboration, any proposed product can be successfully
formulated, scaled-up, developed and commercialized, whether regulatory
approvals can be obtained, the impact of competitive products and pricing,
whether any corporate collaborations will be successful, and other risks
detailed from time to time in Trega's Securities and Exchange Commission (SEC)
filings.  These forward-looking statements represent Trega's judgment as of
the date of this release.  Actual results may differ materially from those
projected.  Trega disclaims, however, any intent or obligation to update these
forward-looking statements.

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