S1P1 Program Assets Generated by Epix Pharmaceuticals, Inc. and Amgen Will Be Offered for Sale at a December 8, 2011 Sealed Bid Sale

WELLESLEY HILLS, Massachusetts, October 6, 2011 /PRNewswire/ --

Joseph F. Finn, Jr., C.P.A. ("Finn") Assignee for the Benefit of Creditors of Epix Pharmaceuticals, Inc. ("Epix") announced today that the S1P1 agonists program assets generated by Epix Pharmaceuticals, Inc. and Amgen will be offered December 8, 2011 in a sealed bid sale.

S1P1 agonists are currently indicated for the treatment of multiple sclerosis.  S1P1 agonists may also have significant potential in multiple other indications, including inflammatory bowel disease, transplantation and rheumatoid arthritis.

In 2005, Epix discovered an S1P1 agonist, AMG 277 (aka PRX-13038).  In 2006, Epix and Amgen established a collaboration under which Amgen obtained exclusive worldwide rights to develop and commercialize AMG 277 and the parties collaborated to identify other small molecule S1P1 agonists for multiple sclerosis.  A second lead compound, AMG 369, was identified during the collaboration.  Both AMG 369 and AMG 277 completed IND-enabling toxicology studies at Amgen and AMG 369 was prioritized for clinical trials based on its superior product profile.  An additional six backup compounds were also profiled in selected toxicology studies.

AMG 369 is a potent S1P1 agonist with selectivity over the S1P3 receptor.  This selectivity may provide a safety advantage over Fingolimod (Gilenya®), the first oral agent approved for multiple sclerosis.

Assets included in the sale include preclinical and toxicology data related to AMG 277, AMG 369 and six backup compounds, existing inventory of these compounds (API), and related patent portfolio.

Persons interested in bidding must sign a Confidentiality Disclosure Agreement ("CDA") obtained from Finn's office - jffinnjr@finnwarnkegayton.com or +1-781-237-8840; upon receipt of the executed CDA, applicants will receive a bid package, to be completed and returned by December 8, 2011.

About Joseph F. Finn, Jr., C.P.A.

Joseph F. Finn, Jr., C.P.A. is the founding partner of the firm, Finn, Warnke & Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts.  He works primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of creditors and liquidating agent for a corporation.  His most recent Assignments for the Benefit of Creditors in the biotech filed include Spherics, Inc., ActivBiotics, Inc., Prospect Therapeutics, Inc. and Source MDx.

For further information, please contact Joseph F. Finn, Jr., C.P.A. at +1-781-237-8840 or jffinnjr@finnwarnkegayton.com