SAN DIEGO, Feb. 12 /PRNewswire/ -- Trega Biosciences, Inc. (Nasdaq: TRGA)
today announced that they have signed a non-binding letter of intent to expand
their research and development relationship with Ono Pharmaceutical Co., Ltd.,
Osaka, Japan initiated in June 1997.  Under the terms of the new agreement,
expected to be completed by the end of March, Trega will optimize lead
compounds discovered by Ono and undertake screening of those compounds in a
new target of interest to Ono in exchange for research funding and potential
milestones and royalties.
    "We are pleased with the potential to expand our relationship with Ono so
quickly," stated Robert S. Whitehead, Trega's chairman and chief executive
officer.  "The June 1997 agreement focused on melanocortin receptor research
for inflammatory diseases.  This new agreement will provide Trega the
opportunity to apply our combinatorial chemistry technologies and screening
capability in other areas of significant interest to Ono.  We are committed to
deliver high quality, integrated drug discovery technologies to pharmaceutical
companies and expand our relationships as partners become convinced of the
efficiency of our approaches."
    Ono Pharmaceutical Co., Ltd. is an Osaka, Japan-based pharmaceutical
company, focusing on research and development of novel drugs and is recognized
as a world leader in prostaglandins and enzyme inhibitors.  Ono was
established in 1717 and is the 12th largest pharmaceutical company ranked by
sales in Japan with fiscal 1997 sales of Yen 126,460 million ($1.02 billion).
    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, which provide partners with access to
Trega's technologies in exchange for licensing fees and potential milestones
and royalties, or by establishing joint-discovery alliances with
pharmaceutical and biotechnology companies.  Trega also uses its drug
discovery technologies in its internal development programs, which are focused
today on discovering small molecules acting on melanocortin receptors.
Melanocortins are a newly discovered receptor pathway for the treatment of
inflammatory and metabolic diseases.
    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 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 or alliances will be successful
and other risks detailed from time to time in Trega's Securities and Exchange
Commission 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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