Coley Pharmaceutical Group To Host Investor Update Conference Call On November 15, 2005

WELLESLEY, Mass., Nov. 8 /PRNewswire-FirstCall/ -- Coley Pharmaceutical Group, Inc. , today announced that the company will host an investor update conference call at 10:00 a.m. Eastern Standard Time on Tuesday, November 15, 2005. Coley management will review interim clinical data from the recently completed Phase Ib Actilon(TM) clinical study being presented at the American Association for the Study of Liver Disease on Monday, November 14, 2005 and will provide an update on plans for commencement of Phase III clinical trials of ProMune(TM) (now PF-3512676) by collaborator Pfizer. Coley senior management will review financial results for the third quarter which will be announced Thursday, November 10, 2005.

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 until November 29, 2005.

Investors may participate in the conference call by dialing either +1-866- 510-0711 (United States and Canada) or +1-617-597-5379 (International) and typing in the passcode 25451923.

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, Chiron, GlaxoSmithKline and the United States government. For additional 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, Inc., +1-781-431-9044, cabdalian@coleypharma.com; orKaren L. Bergman, +1-650-575-1509, kbergman@bccpartners.com, or MichelleCorral, +1-415-794-8662, mcorral@bccpartners.com, both of BCC Partners (US)

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