EPIX Pharmaceuticals, Inc. Announces the PRX-00023 Therapeutics CNS Program in Phase 2b/3 Will Be Part of the Intellectual Property Offered for Sale at the September 30, 2009 Auction

WELLESLEY HILLS, Massachusetts -

Joseph F. Finn, Jr., C.P.A. (”Finn”), announced today that the PRX-00023 Therapeutics Program in Phase 2b/3 will be part of the intellectual property offered for sale at the September 30, 2009 auction.

The PRX-00023 is a CNS Therapeutics Program in Phase 2b/3. It is a small molecule, oral 5HT1A Agonist for CNS disorders. It is well tolerated with superior side effect profile compared to other 5HT1A agonists, SSRIs, and SNRIs. It has an open IND, some drug inventory available.

The intellectual property, regulatory dossier 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