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Epix Pharmaceuticals, Inc. Announces Additional Information Concerning the May 28, 2010 Auction Sale of EP-2104R MRI Imaging Agent

Monday, May 10, 2010 General News J E 4
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WELLESLEY HILLS, Mass., May 10 Joseph F. Finn, Jr., C.P.A. ("Finn"), Assignee for the Benefit of Creditors of Epix Pharmaceuticals, Inc. ("Epix"), announced today that the MRI imaging intellectual properties of the EP-2104R MRI imaging agent, which will be auctioned on May 28, 2010, include potential revenue sharing from the first commercial sale of non-MRI imaging agents developed and/or sold by a third party using the same proprietary technology that resulted in the discovery of peptides that bind specifically to fibrin.

The assets of Epix were transferred to him on July 20, 2009 and he is liquidating them for the benefit of Epix creditors. He recently reached an agreement with Bayer Schering Pharma that permits the sale of the MRI imaging programs.

EP-2104R is a gadolinium-based MRI thrombus agent with a potential indication for stroke workup. It is a first-in-class fibrin binding agent that has completed a Phase 2 proof-of-concept study.

Persons interested in bidding must sign a Confidentiality Disclosure Agreement ("CDA") obtained from Finn's Office - IPSALESERVICES@FINNWARNKEGAYTON.COM or 781-237-8840. They will then receive a bid package and access to an electronic data room.

About Joseph F. Finn, Jr., C.P.A.

Joseph F. Finn, Jr., C.P.A. is the owner of the firm Finn, Warnke & Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts. He works primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of creditors and liquidating agent for a corporation. He has been involved in a number of loan workouts and bankruptcy cases for thirty-five (35) years. His most recent Assignments for the Benefit of Creditors in the biotech field include Spherics, Inc., ActivBiotics, Inc. and Prospect Therapeutics, Inc.

For further information, please contact Joseph F. Finn, Jr., C.P.A. at 781-237-8840 or IPSALESERVICES@FINNWARNKEGAYTON.COM

SOURCE Joseph F. Finn, Jr., C.P.A.
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