Epix Pharmaceuticals, Inc. Announces the May 28, 2010 Auction Sale of EP-3600 MRI Imaging Agent

WELLESLEY HILLS, Massachusetts, May 4, 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-3600 MRI imaging agent will be
auctioned on May 28, 2010. 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-3600 and related analogs are gadolinium-based MRI imaging agents with
a potential indication for myocardial perfusion imaging. These lead compounds
represent first-in-class collagen binding agents that are currently in
preclinical development.

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