ANN ARBOR, MI--(Marketwire - November 16, 2007) - Pipex Pharmaceuticals, Inc. (AMEX: PP) (“Pipex”), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of neurologic and fibrotic diseases, announced that it has received approximately $7.3 million in gross proceeds through the exercise of warrants to purchase the Company’s common stock. These warrants had been previously issued in connection with the Company’s 2006 private placement transaction.
