ANN ARBOR, MI -- (MARKET WIRE) -- February 15, 2007 -- Pipex Pharmaceuticals, Inc. (OTCBB: PPXP), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of neurologic and fibrotic diseases, announced that its lead anti-copper drug candidate, COPREXA™ (oral tetrathiomolybdate) received a grant from the National Institutes of Health (NIH) to support to test its utility for the treatment for Alzheimer's Disease (AD), a life threatening neurodegenerative disease in which copper dyshomeostasis is implicated. This grant was awarded in the amount of $306,172 to Dr. Joseph F. Quinn, Associate Director, Clinical Core, NIA-Layton Aging and Alzheimer's Disease Center Co-Director at Oregon Health Sciences University as principal investigator with, Dr. George J. Brewer, Chairman of Pipex's Scientific Advisory Board and inventor of COPREXA™ as a collaborator for the grant.
