Robert F. Apple, Chief Operating Officer
InKine Pharmaceutical Company, Inc.

Donald C. Weinberger
Wolfe Axelrod Weinberger Assoc. LLC
212-370-4500, 212-370-4505 fax
[email protected]



BLUE BELL, PA August 23, 2004 -- InKine Pharmaceutical Company, Inc. (Nasdaq: INKP) today announced that a manuscript by Jeffrey Medoff, M.D., F.A.C.G., et. al., reporting the results of the Company’s Phase IV study of Visicol®’s use in treating adult patients with chronic constipation has been accepted for publication by the journal Clinical Therapeutics®. Clinical Therapeutics is a peer-reviewed, international, monthly journal that publishes original reports of recent developments in drug therapy as well as in-depth reviews of specific drug therapies or disease states. Publication is expected in the fall of this year.

“We are very pleased Clinical Therapeutics has accepted our paper for publication,” said Martin Rose, M.D., J.D., who is an author of the paper and InKine’s Executive Vice President for Research and Development. “The highly positive results of this study in terms of the efficacy and tolerability of low-dose Visicol® in constipated adults support additional studies to obtain a labeled constipation indication,” added Dr. Rose.

In this open label, multicenter, Phase IV study, patients with functional constipation or constipation-predominant IBS were randomized to receive one of two low-doses of Visicol® tablets each day for 4 weeks. Dose titration within specified limits was allowed after 2 days based on the response to therapy. In addition to the paper in Clinical Therapeutics, the results of the study will be presented at the 69th Annual Scientific Meeting of the American College of Gastroenterology, to be held in Orlando, Florida from October 31 – November 4, 2004.

About InKine Pharmaceutical
InKine Pharmaceutical Company, Inc. is a publicly traded specialty pharmaceutical company focused on developing and commercializing pharmaceutical products for the diagnosis and treatment of gastrointestinal disorders. The Company's development strategy is to acquire late-stage drug candidates with short time lines to commercialization. The Company's franchise product, Visicol® is the only tablet purgative preparation indicated for bowel cleansing prior to colonoscopy. InKine's second product, IB-Stat®, is an oral hyoscyamine spray for the treatment of a variety of indications. The Company is also promoting VSL#3®, a probiotic that is effective in treating certain gastrointestinal disorders. Additionally, the Company is developing INKP-102, an advanced generation purgative, which recently completed Phase II clinical trials for bowel cleansing prior to colonoscopy, Visicol® for use as a laxative in treating patients with constipation and Colirest™, which is in clinical trials for the treatment of Crohn's disease. For further information, please visit InKine on its web site http://www.inkine.com.

In addition to historical facts or statement of current condition, this press release and other statements made from time to time by representatives of the Company contain or may contain forward-looking statements. Forward-looking statements provide InKine's current expectations or forecasts of future events. These may include statements regarding anticipated scientific progress on its research programs, development of potential pharmaceutical products, interpretation of clinical results, prospects for regulatory approval, manufacturing development and capabilities, market prospects for its products, sales and earnings projections, and other statements regarding matters that are not historical facts. You may identify some of these forward-looking statements by the use of words in the statements such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" or other words and terms of similar meaning. InKine's performance and financial results could differ materially from those reflected in these forward-looking statements due to general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries as well as more specific risks and uncertainties such as those set forth in its reports on Form 10-Q and 10-K filed with the U.S. Securities and Exchange Commission. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. Therefore, you should not rely on any such factors or forward-looking statements. Furthermore, InKine does not intend (and it is not obligated) to update publicly any forward-looking statements. This discussion is permitted by the Private Securities Litigation Reform Act of 1995.