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


5/4/2010 12:15:09 PM

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

PR Newswire

WELLESLEY HILLS, Mass., May 4 /PRNewswire/ -- 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 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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