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Alseres Pharmaceuticals Announces Preclinical Study Results Demonstrating that Rho Inhibitors Could Be Useful in Promoting Bone Healing

Thursday, August 28, 2008 General News J E 4
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HOPKINTON, Mass., Aug. 28 AlseresPharmaceuticals, Inc., (Nasdaq: ALSE), announced that data from preclinicalstudies of the Company's regenerative therapy candidate, ALSE-100, werepresented at the Australian and New Zealand Bone and Mineral Society AnnualConference, August 28-30, 2008 in Melbourne, Australia.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080813/NEW056LOGO )

The poster presentation entitled: "Rho Inhibitor (ALSE-100) effects onbone cells in vitro" highlighted the results of a study funded by Alseres andconducted by Dr. Jillian Cornish et al. at the University of Auckland. Thestudy investigated the effects of ALSE-100 on osteoblast and osteoclast cellsin culture as well as in an organ culture system. ALSE-100 stimulateddifferentiation and mineralization to form bone nodules in culture and alsoinhibited bone resorption, osteoclast development and activity. These effectsindicate that ALSE-100 could be useful in promoting bone healing.

"Rho inhibitors have previously been shown in published literature to havea beneficial effect on bone cells," noted Dr. Noel Cusack, Alseres' SeniorVice President of Preclinical Development. "We believe that this study, usinga range of doses of one of our Rho inhibitor variants, ALSE-100, hasdemonstrated that our Rho inhibitor platform may provide potentiallyattractive therapeutic candidates for promoting bone healing."

About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development oftherapeutic and diagnostic products primarily for disorders in the centralnervous system (CNS). The Company maintains a world-class intellectualproperty position in the field of regenerative therapeutics. The Company'senergy and focus is reflected in several important initiatives. Cethrin, arecombinant-protein-based drug designed to promote nerve repair after acutespinal cord injury, demonstrated positive interim results in a Phase I/IIaclinical trial. The Company's research and pre-clinical programs include,Inosine for the treatment of spinal cord injury and stroke, Oncomodulin forthe treatment of ocular injury and disease and research programs directed at anumber of regenerative therapies including bone repair. The Company has arobust molecular imaging development program targeting diagnosis ofParkinson's disease and potentially dementia. The Company's lead molecularimaging product candidate is Altropane which is in Phase III clinical trialsfor the diagnosis of Parkinsonian Syndromes including Parkinson's Disease.The Company has research collaborations with Harvard Medical School andChildren's Hospital Boston.

Forward-Looking Statements

The foregoing release contains certain forward-looking statements withinthe meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Alseres' future expectations,beliefs, intentions, goals, strategies, plans or prospects regarding thefuture, including the development and commercialization of Altropane andCethrin, the prospects of the Company's CNS and regenerative therapeuticsprograms, the Company's strategies to develop and commercialize axonregeneration technologies and the breadth of the Company's technologies andintellectual property portfolio. Forward-looking statements can be identifiedby terminology such as "anticipate," "believe," "could," "could increase thelikelihood," "estimate," "expect," "intend," "is planned," "may," "should,""will," "will enable," "would be expected," "look forward," "may provide,""would" or similar terms, variations of such terms or the negative of thoseterms. Such forward-looking statements involve known and unknown risks,uncertainties and other factors including those risks, uncertainties andfactors referred to in the Company's Quarterly Report on Form 10-Q for thequarter ended June 30, 2008 filed with the S
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