EPIX Pharmaceuticals Announces New Additions to Research and Development Organization

EPIX Pharmaceuticals, Inc. (NASDAQ: EPIX) today announced that it has expanded the company’s research and development team with the appointment of Sheila DeWitt, Ph.D. to the newly-created role of vice president of discovery, and the appointment of Tom Megerian, M.D., Ph.D. to the position of executive director, clinical research. In addition, Sharon Shacham, Ph.D. and Simon Jones, Ph.D. have transitioned into roles of increased responsibility within the R&D team. "We have structured our R&D organization to bring a new level of efficiency to our team, which will allow us to continue to pursue new discovery targets, identify development candidates and move our four lead therapeutic product candidates forward in the clinic,” said Andrew Uprichard, M.D., president and head of research and development for EPIX. "We are thrilled to welcome Sheila and Tom to our team. They are joining us at a critical time as we expand our research and development efforts to further advance our growing pipeline.” As vice president of discovery, Dr. DeWitt will be responsible for discovery and manufacturing activities for the company. Previously, Dr. DeWitt served as vice president of business development and strategic planning at EPIX, where she played an integral role in the merger with Predix Pharmaceuticals Holdings, Inc. Dr. Dewitt has served in a variety of other R&D and business development roles, including vice president of portfolio development and business unit head for strategic alliances and drug discovery at ArQule, Inc., business unit head for chip-based discovery at Orchid Biosciences (now Orchid Cellmark Inc.), founder and vice president of technical development for Diversomer Technologies Inc. and numerous scientific positions at Parke-Davis (now Pfizer Inc.). Dr. DeWitt has successfully led teams that evaluated and integrated acquisitions, overseen R&D pipelines, managed strategic alliances with industry leaders such as Bayer Schering Pharma AG, Germany and GlaxoSmithKline and earned recognition for scientific contributions to the field of combinatorial chemistry. Dr. DeWitt holds a B.A. in chemistry from Cornell University and a Ph.D. in organic chemistry from Duke University. As executive director, clinical research, Dr. Megerian will manage the company’s 5-HT4 and 5-HT6 programs, which focus on the treatment of Alzheimer’s disease as well as obesity and cognitive impairment associated with schizophrenia. He joins EPIX from NeuroMetrix, Inc., a medical device company that specializes in products used in the diagnosis of diseases that affect the peripheral nerves and spine. As senior medical director for NeuroMetrix, Dr. Megerian played an integral role in the development and management of that company’s clinical programs and was responsible for creating and executing NDA and research protocols for new medical devices. Dr. Megerian holds a B.S. in biology and chemistry from Union College and received his M.D. and Ph.D. from Northwestern University Medical School. Dr. Shacham has assumed the role of vice president of drug development, where she will oversee all clinical program teams from discovery through product development. Dr. Jones has been promoted to the role of vice president of biology and ADMET, where he will direct and manage all preclinical programs. About EPIX 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 2 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 in Phase 2b clinical development to treat major depression and PRX-07034, which recently completed a Phase 1b trial and is in clinical development for the treatment of obesity and cognitive impairment. The company also has a blood-pool imaging agent (Vasovist™) approved in 32 countries and marketed in Europe. EPIX has collaborations with leading organizations, including GlaxoSmithKline, Amgen, Cystic Fibrosis Foundation Therapeutics, and Bayer Schering Pharma AG, Germany. For more information, please visit the company’s website at www.epixpharma.com. This news release contains express or implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations of management. These statements relate to, among other things, our expectations regarding the development of our product candidates. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional information regarding these and other risks that we face, see the disclosure contained in our filings with the Securities and Exchange Commission, including our most recent Quarterly Report on Form 10-Q.