EPIX Pharmaceuticals Expands Scientific Advisory Board.

Appointments Mark Expansion in CNS; Added Expertise in Immunological, Inflammatory and Infectious Diseases

LEXINGTON, Mass. -- EPIX Pharmaceuticals, Inc. (NASDAQ: EPIX) today announced the appointments of Charles A. Dinarello, M.D., professor of medicine at the University of Colorado School of Medicine, and Edward Roberts, Ph.D., professor of translational chemistry and medicine at The Scripps Research Institute, to the company's Scientific Advisory Board (SAB). Dr. Dinarello is a world-leading expert on preclinical and clinical studies of inflammatory cytokines, particularly interleukin-1 and related cytokines. Cytokines regulate inflammation and are involved in a variety of immunological, inflammatory and infectious diseases. Dr. Roberts is a world-renowned chemist with more than 30 years of drug development experience at both large pharmaceutical and biotech companies specializing in the treatment of disorders of the central nervous system. The EPIX SAB was established to advise the company on key aspects of the clinical development programs for its therapeutic drug candidates.

Dr. Dinarello and Dr. Roberts join the existing members of the EPIX SAB, including Tamas Bartfai, Ph.D., chairman of the EPIX SAB and chairman of the department of molecular and integrative neurosciences and director of the Harold L. Dorris Neurological Institute at The Scripps Research Institute in La Jolla, California; Elliot S. Gershon, M.D., professor of psychiatry and human genetics, the University of Chicago in Chicago, Illinois; and Eric J. Nestler, M.D., Ph.D., professor and chairman of the department of psychiatry at the University of Texas Southwestern Medical Center in Dallas, Texas.

"We are pleased to welcome Charles and Edward to the EPIX SAB and are fortunate to have the experience and knowledge of all five of these accomplished thought-leaders informing our current and future discovery and development efforts," said Sharon Shacham, Ph.D., vice president of product development. "We believe the SAB is a vital strategic asset for our continued growth, and we look forward to further collaboration with the members of our SAB as we continue to pursue new discovery targets and develop our four lead therapeutic product candidates."

Tamas Bartfai, Ph.D., chairman of the EPIX SAB, further commented, "We look forward to working with Charles and Edward on the EPIX SAB. We are pleased with the progress EPIX has made in advancing the clinical development of the therapeutic product candidates in their pipeline and we look forward to working with EPIX management to help guide their continued drug discovery efforts."

About the EPIX SAB

Tamas Bartfai, Ph.D.

Dr. Bartfai is chairman of the department of molecular and integrative neurosciences and director of the Harold L. Dorris Neurological Institute at The Scripps Research Institute in La Jolla, California. Dr. Bartfai is a member of the Nobel Prize committee. He has also served as a fellow at the Neurosciences Institute, as well as secretary of the National Committee for Biochemistry and Molecular Biology of the Royal Swedish Academy of Sciences. He is a member of Academia Europae and an AAAS fellow.

Dr. Bartfai has led seminars and lectures around the world, from Yale University and Harvard University in the United States to Tel Aviv University in Israel, the University of Tokyo, National University of Singapore, and many more. Dr. Bartfai earned is Ph.D. in biochemistry from Stockholm University.

Charles A. Dinarello, M.D.

Dr. Dinarello is a professor of medicine at the University of Colorado School of Medicine and is a member of the U.S. National Academy of Sciences. Until 1996, Dr. Dinarello was professor of medicine and pediatrics at Tufts University School of Medicine and a staff physician at the New England Medical Center Hospital in Boston. Dr. Dinarello received his medical degree from Yale University and his clinical training at the Massachusetts General Hospital.

Dr. Dinarello served as a member of the Board of Scientific Advisors of the National Institutes of Allergy and Infectious Diseases. He presently serves on the editorial board of several scientific journals including PNAS. Dinarello has published over 450 original research articles on cytokines, particularly interleukin-1. The Institute for Scientific Information listed Dr. Dinarello as the world's 4th most-cited scientist during the 20 years 1983-2002.

Dr. Dinrello was vice president of the American Society of Clinical Investigation (1989-1990) and president of the International Cytokine Society (1995-1996). Dr. Dinarello is the recipient of several awards for his contributions to the field of infectious diseases and cytokines. In addition to his active academic research career, Dr. Dinarello serves on the Board of Governors of both the Weizmann Institute and Ben Gurion University.

Elliot S. Gershon, M.D.

Elliot S. Gershon, MD, is Foundations Fund Professor of Psychiatry and Human Genetics at the University of Chicago. Dr. Gershon successfully directed several pedigree collection in Bipolar disorder and Schizophrenia, and is known for his contributions to diagnostic definitions and methodology in clinical study of these disorders. His laboratory's findings in linkage and association analysis in Bipolar disorder are widely recognized as among the most significant in the field. He has been a Principle Investigator on multiple NIH grants, including three current R01 grants.

After receiving his bachelor's and medical degrees from Harvard University, Dr. Gershon became a teaching fellow at Harvard Medical School, and served his residency at Massachusetts Mental Health Center in Boston. Dr. Gershon serves on numerous advisory boards in the area of psychiatric disorders, as well as on the editorial boards for various psychiatric and pharmacologic publications. He has contributed to countless medical journals and other publications, and holds medical licenses in both the U.S. and Israel.

Eric J. Nestler, M.D., Ph.D.

Dr. Nestler currently serves as the Lou and Ellen McGinley Distinguished Professor and chair of the department of psychiatry at the University of Texas Southwestern Medical Center in Dallas. Dr. Nestler's research focuses on understanding the biochemical pathways that cause depression and drug addiction.

After receiving his bachelor, Ph.D. and M.D. degrees from Yale University, Dr. Nestler joined the faculty there as a professor of psychiatry and neurobiology from 1987 to 1992. He also served as the director of molecular psychiatry research facilities at Yale before joining the University of Texas Southwestern Medical Center. Dr. Nestler serves on the editorial boards of numerous neuroscience and psychiatric journals. Dr. Nestler serves on the SABs of the National Alliance for Research in Schizophrenia and Depression, and the National Alliance for Autism Research and is a past member of the Board of Scientific Counselors of the National Institute on Drug Abuse.

Edward Roberts, Ph.D.

Dr. Roberts is a professor of translational chemistry and medicine at The Scripps Research Institute. Prior to his joining The Scripps Research Institute, Dr. Roberts served as senior vice president and chief scientific officer for Kemia, Inc., where he lead the company's drug discovery efforts. Previously, Dr. Roberts was with F. Hoffmann-La Roche Ltd. in Basel, Switzerland, where he was senior vice-president and head of discovery chemistry. Dr. Roberts was responsible for drug discovery chemistry done in all the therapeutic areas represented at the corporate headquarters, which included diseases of the central nervous system as well as the vascular and metabolic therapeutic areas.

Dr. Roberts served as director of AstraZeneca Research and Development in Montreal, Canada, where he helped form a new research group in the field of peripheral and central nervous system diseases. After 2 years at the University College of Wales, Cardiff, Dr. Roberts joined the Parke-Davis Neuroscience Research Centre at Addenbrooks Hospital in Cambridge, England. Dr. Roberts received a Bachelor of Science degree with Honors in biochemistry from the University of Sussex and his Ph.D. in organic chemistry from the University of Newcastle-upon-Tyne. Dr. Roberts has authored more than 50 articles in major science journals, has presented papers at leading chemistry conferences around the world, and holds over 20 issued patents on discoveries.

About EPIX Pharmaceuticals

EPIX Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing novel pharmaceutical products through the use of proprietary technology to better diagnose, treat and manage patients. The company has five internally-discovered therapeutic and imaging drug candidates currently in clinical trials targeting conditions such as depression, Alzheimer's disease, cardiovascular disease and obesity. These drug candidates include PRX-08066 in Phase 2a clinical development for pulmonary hypertension associated with chronic obstructive pulmonary disease, PRX-03140 which is in a Phase 2a clinical trial in Alzheimer's disease, PRX-00023 which is being developed to treat major depression, and PRX-07034, which is in Phase 1 clinical development for the treatment of obesity and cognitive impairment. The company also has a blood-pool imaging agent (Vasovist[TM]) approved in 30 countries and marketed in Europe. EPIX also has collaborations with leading organizations, including GlaxoSmithKline, Amgen, Cystic Fibrosis Foundation Therapeutics, and Bayer Schering Pharma, AG Germany. For more information about EPIX, please visit the company's website at www.epixpharma.com.