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

WELLESLEY HILLS, Massachusetts, May 10, 2010 - 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 +1-781-237-8840. 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
+1-781-237-8840 or IPSALESERVICES@FINNWARNKEGAYTON.COM

Joseph F. Finn, Jr., C.P.A., +1-781-237-8840, IPSALESERVICES at FINNWARNKEGAYTON.COM