Pharmos Corporation to Present at the 2006 RBC Capital Markets Healthcare Conference

Iselin NJ, December 11, 2006 – Pharmos Corporation (Nasdaq: PARS) announced today that President and COO Alan L. Rubino will participate in a gastroenterology-focused panel discussion on Wednesday, December 13, 2006 at 9:00 AM Eastern Time as part of the 2006 RBC Capital Markets Healthcare Conference taking place at the Westin New York at Times Square in New York City.

An audio-only webcast and replay of Pharmos’ presentation will be available at http://www.wsw.com/webcast/rbc62/panel4 and can be accessed via the Company’s website at www.pharmoscorp.com.

About Pharmos Corporation
Pharmos discovers and develops novel therapeutics to treat a range of indications with a focus on specific diseases of the nervous system including disorders of the brain-gut axis (gastrointestinal/irritable bowel syndrome (IBS)), pain/inflammation, and autoimmune disorders. The Company’s lead product, dextofisopam, has completed Phase 2a testing in IBS, with positive effect on the primary efficacy endpoint (n=141, p=0.033). The Company plans a Phase 2b study of dextofisopam for the treatment of IBS in 2007. The Company’s core proprietary technology platform focuses on discovery and development of synthetic cannabinoid compounds. Cannabinor, the lead CB2-selective receptor agonist candidate, is undergoing Phase 2a testing in pain. Other compounds in Pharmos’ pipeline are in clinical and pre-clinical studies targeting pain, multiple sclerosis, rheumatoid arthritis and other disorders.

Safe Harbor Statement
Statements made in this press release related to the business outlook and future financial performance of Pharmos, to the prospective market penetration of its drug products, to the development and commercialization of its pipeline products and to its expectations in connection with any future event, condition, performance or other matter, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause results to differ materially from those set forth in these statements. Additional economic, competitive, governmental, technological, marketing and other factors identified in Pharmos’ filings with the Securities and Exchange Commission could affect such results.