Jay D. Kranzler, MD, PhD, Receives the 2011 ISCDD Award for Innovation

SAN DIEGO, CA and NEW YORK, NY--(Marketwire - March 29, 2011) - Cypress Bioscience, Inc. ("Cypress"), a pharmaceutical company engaged in the development of innovative drugs to treat central nervous system disorders, today announced that its Chairman Emeritus, Jay. D. Kranzler, MD, PhD, received the 2011 ISCDD Award for Innovation. The International Society for CNS Drug Development (ISCDD) is a non-profit independent society focused on addressing scientific challenges in CNS drug development, through research and collaboration among stakeholders including academia, industry and government.

"By his track record, Dr. Kranzler exemplifies the innovation that this award represents. Throughout his career, he has always sought to find new ways to bring treatments to patients suffering with CNS disorders. His determination to do this is an inspiration to the field," commented William Z. Potter, MD, PhD, Chairman of the Executive Committee of the ISCDD.

Cypress' development efforts currently focus on CYP-1020 for cognitive impairment in schizophrenia, Staccato® nicotine for smoking cessation and intranasal carbetocin for autism. Cypress, acquired earlier this year by Royalty Pharma, continues the development efforts on these programs, including a phase 2b trial for CYP-1020 that, if successful, will further demonstrate CYP-1020's pro-cognitive effect.

About Cypress
Cypress is a pharmaceutical company dedicated to the development of innovative drugs targeting large unmet medical needs for patients suffering from a variety of disorders of the central nervous system. Since 1999, Cypress has received FDA approvals for both of the products it brought to the FDA during that period, including for Prosorba™, a medical device for rheumatoid arthritis, and Savella® (milnacipran HCl), for fibromyalgia. The Company is engaged in the development of innovative drugs to treat central nervous system disorders. Cypress' development-stage assets include CYP-1020 for cognitive impairment in schizophrenia, Staccato® nicotine for smoking cessation and intranasal carbetocin for autism. More information on Cypress and its products and development assets is available at http://www.cypress.com/.

About Royalty Pharma
Royalty Pharma is the industry leader in acquiring revenue-producing intellectual property -- principally royalty interests in marketed and late stage biopharmaceutical products with a market value of over $ 6 billion. Royalty Pharma currently owns a diversified portfolio of royalty interests in several high-quality blockbuster biopharmaceutical products, including Amgen's Neupogen® and Neulasta®, Genentech's Rituxan®, Gilead's Emtriva®, Truvada® and Atripla®, Celgene's Thalomid®, Abbott's Humira® , J&J' Remicade, Pfizer's Lyrica®, Gilead's Letairis® /Volibris® and Genzyme's Myozyme® The company has a fifteen year history of providing value to holders of royalty interests, including its joint $525 million acquisition with Gilead Sciences of Emory University's emtricitabine royalty interest and its acquisitions of approximately 80% of Memorial Sloan Kettering's U.S. and international royalty interests in Neupogen® and Neulasta® for over $400 million. The strong market position enjoyed by the products in which Royalty Pharma owns royalties -- generally the sole or number one product in their therapeutic classes -- and its revenue diversification are some of the key attributes contributing to the investment grade rating of Royalty Pharma's finance trust by S&P and Moody's. More information on Royalty Pharma is available at www.royaltypharma.com.