CollaGenex Pharmaceuticals Appoints George Lasezkay to Its Board of Directors

CollaGenex Pharmaceuticals, Inc. (NASDAQ:CGPI) announced today the appointment of George Lasezkay, Pharm.D., J.D., to its Board of Directors. Dr. Lasezkay will also serve on the Board’s audit committee.

Dr. Lasezkay has an extensive background in the pharmaceutical industry, including 13 years experience with Allergan, Inc., a specialty pharmaceutical company focusing on ophthalmology and dermatology, where he was Corporate Vice President, Corporate Development, and, before that, its Assistant General Counsel. He currently serves on the Board of Directors of Acuity Pharmaceuticals, Inc., Sucampo Pharmaceuticals, Inc., Novagali Pharma S.A. and Valentis Inc., and he is a former member of the Board of ISTA Pharmaceuticals, Inc. Dr. Lasezkay provides business development and strategic advisory services to emerging pharmaceutical and biotechnology companies as a Principal at Turning Point Consultants, LLC.

“We are delighted with George’s appointment to the board of directors of CollaGenex as we progress towards our goal of becoming a leading specialty pharmaceutical company focused on dermatology,” commented Colin W. Stewart, president and chief executive officer of CollaGenex. “During his career at Allergan, George was instrumental in developing and executing a similar vision for that company, and his insights and experience should be extremely helpful to us as we strive to achieve our goals.”

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

Research has shown that certain tetracyclines can be chemically modified to retain non-antibiotic properties that may make them effective in treating diseases involving inflammation and/or destruction of the body’s connective tissues. CollaGenex is evaluating various chemically modified tetracyclines (so called “IMPACS” compounds because they are Inhibitors of Multiple Proteases And CytokineS”) to assess whether they are safe and effective in these 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 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.

Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating to the Company’s revenue and expenses, future cash position, including the second quarter and for the remainder of 2005, and its future development efforts, including clinical and development programs and the dermatology franchise, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. CollaGenex’ actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including those factors contained in CollaGenex’ Quarterly Report on Form 10-Q for the quarter ended March 31, 2005 under the section “Additional Factors That May Affect Future Results” as well as other documents that may be filed by CollaGenex from time to time with the Securities and Exchange Commission. Forward-looking statements include statements regarding CollaGenex’ expectations, beliefs, intentions, goals strategies, plans or prospects regarding the future and can be identified by forward-looking words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “intend”, “may”, “should”, “will”, and “would” or similar words. CollaGenex assumes no obligations to update the information included in this press release.

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

All other trade names, trademarks or service marks are the property of their respective owners and are not the property of CollaGenex Pharmaceuticals, Inc. or any of our subsidiaries.

Novacort(TM) and Alcortin(TM) are trademarks of Primus 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.