LEXINGTON, Mass.--(BUSINESS WIRE)--EPIX Pharmaceuticals, Inc. (NASDAQ:EPIX), a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform, announced that, as of 12:00 a.m. New York City time on May 5, 2009, pursuant to its previously announced exchange offer (the “Exchange Offer”), an aggregate of $96,839,000, or approximately 97%, of its 3.00% Convertible Senior Notes due 2024 (the “Notes”) were validly tendered in exchange for a combination of cash, shares of common stock, par value $0.01 per share, and contingent value rights (“CVRs”). The company expects to consummate the Exchange Offer later today or as soon as practicable thereafter.
