Coley Pharmaceutical Group To Report First Quarter Financial Results May 11, 2006

WELLESLEY, Mass., May 4 /PRNewswire-FirstCall/ -- Coley Pharmaceutical Group, Inc. , today announced that the company will host an investor conference call at 4:30 p.m. Eastern Time on May 11, 2006 to discuss financial results for the quarter ended March 31, 2006.

To access the live audio broadcast or the subsequent archived recording of the call, please visit the Investor Center section of the Coley website at http://www.coleypharma.com. Please log onto Coley's website several minutes prior to the start of the call to ensure adequate time for any software download that may be required. A replay of this webcast will be available through May 25, 2006.

Investors may participate in the conference call by dialing either +1-800- 591-6930 in the U.S., +1-617-614-4908 outside the U.S., and typing in the passcode 65260224.

The webcast is also being distributed through the Thomson StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at http://www.fulldisclosure.com and institutional investors can access the call via http://www.streetevents.com.

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, infectious diseases, asthma and allergy. Coley has established a pipeline of four TLR Therapeutic product candidates currently advancing through clinical development either independently or with partners, and additional product candidates in preclinical development. Coley has product development, research and license agreements with Pfizer, sanofi-aventis, Novartis Vaccines & Diagnostics (formerly Chiron), GlaxoSmithKline and the United States government. For further information on Coley Pharmaceutical Group please visit http://www.coleypharma.com.

Coley Pharmaceutical Group, Inc.

CONTACT: Charles H. Abdalian, Jr., Senior Vice President and CFO of ColeyPharmaceutical Group, +1-781-431-9044, cabdalian@coleypharma.com; or KarenL. Bergman, +1-650-575-1509, kbergman@bccpartners.com, or Michelle Corral,+1-415-794-8662, mcorral@bccpartners.com, both of BCC Partners (US)

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