SAN DIEGO, March 3 /PRNewswire/ -- Houghten Pharmaceuticals, Inc. (HPI),
(Nasdaq: HPIP), a biotechnology company engaged in pharmaceutical drug
discovery, today announced the completion of the previously announced sale of
its subsidiary, Multiple Peptide Systems (MPS).  MPS is a peptide company
which sells its products to the research community.  HPI will receive $1.5
million in 1997 with three incremental payments, totaling $750,000, to be paid
on the third, fourth, and fifth anniversaries of the transaction.
    "The sale of MPS signals HPI's ongoing evolution as a drug discovery
company, as well as its emphasis on meeting the increasingly sophisticated
requirements of pharmaceutical drug discovery.  Over the past few years we
have invested in a variety of technologies to build a multifaceted drug
discovery company concentrating on small-molecule compounds," stated Robert S.
Whitehead, HPI's president and chief executive officer.
    HPI is a drug discovery company, which utilizes combinatorial chemistry
and combinatorial biology technologies to create novel small-molecule drug
candidates.  The company leverages its technology platform by entering into
pharmaceutical alliances, enabling partners to access HPI's technologies in
exchange for licensing fees, potential milestone payments and royalties, or by
establishing joint-discovery alliances with biotechnology companies.  HPI also
uses its drug discovery technologies in its internal development programs.
    Except for the historical information contained herein, the matters
discussed in the news release are forward-looking statements that involve
risks and uncertainties detailed from time to time in HPI's Securities and
Exchange Commission (SEC) filings.  These forward-looking statements represent
HPI's judgment as of the date of this release.  Actual results may differ
materially from those projected.  HPI disclaims, however, any intent or
obligation to update these forward-looking statements.
    HPI's releases are on the World Wide Web at http://www.houghten.com and PR
Newswire's fax-on-demand service at 1-800-758-5804, extension 374050.

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