Epix Pharmaceuticals' MRI imaging intellectual properties to be auctioned on May 28, 2010

Joseph F. Finn, Jr., C.P.A. ("Finn"), Assignee for the Benefit of Creditors of Epix Pharmaceuticals, Inc. ("Epix"),  announced today that the MRI imaging intellectual properties will be auctioned on May 28, 2010.  The assets of Epix were transferred to him on July 20, 2009 and he is liquidating them for the benefit of Epix creditors.  He recently reached an agreement with Bayer Schering Pharma that permits the sale of the MRI imaging programs.  

The family of gadolinium-based imaging programs consists of MS-325 (gadofosveset trisodium), which is a commercial MRA imaging agent currently marketed as Ablavar® in the US by Lantheus Medical Imaging and formerly marketed as Vasovist® in Europe and other countries by Bayer Schering Pharma.  MS-325 has been approved in 38 countries.  The MS-325 commercial rights for sale include European Union, Switzerland and other regions outside the US, Canada, Puerto Rico and Australia.

MS-325 is a first-in-class gadolinium-based imaging agent that binds reversibly to serum albumin.  Because albumin is at a high concentration in the blood stream, MS-325 remains in circulation for an extended period of time, providing extended intravascular enhancement compared to existing extracellular MR contrast agents.