EPIX Pharmaceuticals, Inc. Announces August 25, 2009 for the Auction Sale of Equipment and September 30, 2009 for the Auction Sale of the Intellectual Property

WELLESLEY HILLS, Massachusetts -

Joseph F. Finn, Jr., C.P.A. (”Finn”), announced today that August 25, 2009 is the date for the sale of the equipment and September 30, 2009 is the date for the sale of the intellectual property.

EPIX’s products and services focus on the discovery and development of novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform. The company has a pipeline of internally-discovered drug candidates currently in clinical development to treat diseases of the central nervous system and lung conditions. In addition, EPIX has programs related to its MRI imaging business. EPIX also has collaborations with several leading pharmaceutical and research foundations.

The intellectual property, regulatory dossier, fixed assets and clinical inventory will be sold at auction on September 30, 2009.

Persons interested in bidding must sign a Confidentiality Disclosure Agreement (”CDA”) obtained from Finn’s Office - jffinnjr@earthlink.net or +1-781-237-8840. They will then receive a bid package.

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

Joseph F. Finn, Jr., C.P.A. is the founding partner 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 jffinnjr@earthlink.net

Source: Joseph F. Finn, Jr., C.P.A.

Joseph F. Finn, Jr., C.P.A., +1-781-237-8840, jffinnjr at earthlink.net