CollaGenex Pharmaceuticals to Conduct Second Quarter 2005 Earnings Conference Call on August 2

CollaGenex Pharmaceuticals, Inc. (NASDAQ:CGPI) today announced that it will hold a conference call on Tuesday, August 2, 2005, at 11:00 a.m. Eastern Daylight Time to discuss the Company’s second quarter 2005 financial results. A press release announcing the Company’s financial results will be released before the market opens on Tuesday, August 2, 2005.

Colin Stewart, president and chief executive officer of CollaGenex, and Nancy C. Broadbent, chief financial officer of CollaGenex, will host the conference call.

Investors and other interested parties may access the conference call by dialing (888) 394-8045 in the U.S. or (973) 409-9260 internationally, or via a live Internet broadcast on the company’s website at www.collagenex.com.

For those who cannot listen to the live broadcast, a replay will be available shortly after the call at www.collagenex.com for 90 days. Additionally, a recording of the call will be available by telephone until 11:59 p.m. on August 9, 2005 by dialing (877) 519-4471 in the U.S. or (973) 341-3080 internationally, and entering access code 6277476.

About CollaGenex

CollaGenex Pharmaceuticals, Inc. is a specialty pharmaceutical company that has built its reputation on providing innovative medical therapies to the dental and dermatology markets. CollaGenex currently sells Periostat(R) as the first and only pharmaceutical to treat periodontal disease by inhibiting the enzymes that destroy periodontal support tissues and by enhancing bone protein synthesis. The company also sells Atridox(R), Atrisorb FreeFlow(R) and Atrisorb-D FreeFlow(R) for the treatment of adult periodontitis under a license from QTL USA, Inc., the successor to Atrix Laboratories, Inc. Its professional dermatology sales force markets Pandel(R), a prescription topical corticosteroid licensed from Altana, Inc. and also co-promotes Alcortin(TM) (1% iodoquinol and 2% hydrocortisone), a prescription topical antifungal steroid combination, and Novacort(TM) (2% hydrocortisone acetate and 1% pramoxine HCl), a prescription topical steroid and anesthetic, under a co-promotion agreement with Primus Pharmaceuticals, Inc.

Research has shown that certain unique properties of the tetracyclines discovered during the development of Periostat may be applicable to other diseases involving inflammation and/or destruction of the body’s connective tissues. CollaGenex is further evaluating certain IMPACS compounds, including Oracea and Col-3, to assess whether they are safe and effective in these other applications. The Company has a pipeline of innovative product candidates with possible applications in dermatology and other disease states. In addition, CollaGenex has acquired the Restoraderm(TM) technology, a unique, proprietary dermal drug delivery system, and plans to develop a range of topical dermatological products with enhanced pharmacologic and cosmetic properties.

To receive additional information on the Company, please visit our Web site at www.collagenex.com, which does not form part of this press release.

Periostat(R) is a registered trademark and Restoraderm(TM), IMPACS(TM) and Oracea(TM) are trademarks of CollaGenex Pharmaceuticals, Inc.

Pandel(R) is a trademark of Taisho Pharmaceuticals.

Atridox(R), Atrisorb(R) and Atrisorb-D(R) are registered trademarks of QLT USA, Inc.