EPIX Pharmaceuticals, Inc. (EPIX) CEO to Ring the NASDAQ Stock Market Closing Bell

MEDIA ADVISORY, Aug. 21, 2006 (PRIMEZONE) --

What: Michael G. Kauffman, M.D., Ph.D., CEO of EPIX Pharmaceuticals, Inc. (EPIX) will preside over the closing bell to celebrate its merger with Predix Pharmaceuticals Holdings, Inc. As a result of the merger and reverse stock split, a "D" will be appended to EPIX's NASDAQ trading symbol for the next 20 days, after which time it is expected to continue to trade under the NASDAQ symbol "EPIX." Where: NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio When: Tuesday August 22nd, 2006 at 4:00 p.m. EDT Contacts: Andrea Johnston Pure Communications (910) 616-5858 andrea@purecommunicationsinc.com NASDAQ MarketSite: Stephanie Lowenthal; 646.441.5220

Feed Information:

The closing bell is available from 3:50 p.m. to 4:05 p.m. on uplink IA-6 C-band/transponder 17. The downlink frequency is 4040 Vertical; Audio 6.2-6.8. The feed can also be found on Waterfront fiber 1623. If you have any questions, please contact Stephanie Lowenthal at (646) 441-5220.

Photos:

To obtain a hi-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market close of your choice.

About EPIX Pharmaceuticals, Inc. (EPIX):

EPIX Pharmaceuticals is a late-stage 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 a blood-pool imaging agent approved and marketed in Europe (Vasovist(r)), and five internally-discovered drug candidates currently in clinical trials targeting conditions such as anxiety, depression, Alzheimer's disease, cardiovascular disease and obesity. EPIX also has collaborations with leading organizations, including Amgen, Cystic Fibrosis Foundation Therapeutics, and Schering AG, Germany. For more information about EPIX, please visit the company's website at www.epixpharma.com.

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