Pipex Pharmaceuticals to Provide Clinical Update and Report First Quarter 2008 Results on Thursday, May 15

ANN ARBOR, MI--(Marketwire - May 13, 2008) - Pipex Pharmaceuticals, Inc. (AMEX: PP), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of neurologic and autoimmune diseases, announced that it will release its financial results for the first quarter of fiscal year 2008 on Thursday, May 15th. The Company will host a teleconference call at 4:30 p.m. EDT that day to discuss the results; at that time Pipex will also provide a review of the Company’s clinical pipeline. There will be a question-and-answer session directly following the presentation of the results.

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