The FDA has approved a Physician-Sponsored IND and continuation of the fourth 6-month open label extension of PRX-03140, a novel 5HT4 partial agonist for the potential treatment of Alzheimer's Disease. The patient was enrolled initially in a two week Phase 2a study in August 2007 where she received 100 mg per day of PRX-03140 in combination with her normal daily dose of Aricept((R))(10 mg). Based on the marked progress during the original two week study, the patient's daughter sought continued compassionate use of PRX-03140 for her mother and a protocol was submitted to the FDA and approved. The progress seen in the first 2-week study has continued during the past two years (19 months of dosing) and four FDA approved 6-month open label extensions. The latest open label extension will be administered under a new Physician-Sponsored IND under the supervision of Dr. Lucy Hornstein(1). "When I was approached by the patient's daughter to continue the compassionate use therapy of PRX-03140 for her mother, I was compelled by the progress her mother had experienced and the overall apparent safety of the drug," notes Dr. Hornstein.
On July 20, 2009, EPIX Pharmaceuticals, Inc. (the "Company") entered into an Assignment for the Benefit of Creditors (the "Assignment") in accordance with Massachusetts law. The purpose of the Assignment is to conclude the Company's operations and provide for an orderly liquidation of its assets. The Assignment is a common law business liquidation mechanism under Massachusetts law that is an alternative to a formal bankruptcy proceeding. Under the terms of the Assignment, the Company transferred all of its assets to an assignee for orderly liquidation and distribution of the proceeds to the Company's creditors. The designated assignee for the Company is Joseph F. Finn, Jr. at Finn, Warnke & Gayton, 167 Worcester Street, Suite 201, Wellesley Hills, MA 02481.
The PRX-03140 program will be sold at auction on Wednesday, October 21 at 3 pm EDT. Please contact Joseph F. Finn, Jr. at 781-237-8840 if you are interested in participating in the auction.
SOURCE Joseph F. Finn, Jr., C.P.A.
EPIX PHARMACEUTICALS ANNOUNCES THE P2Y2 GASTROINTESTINAL PROGRAM
Sep 01, 2009 (AsiaPulse via COMTEX) -- MEDIA RELEASE PR35934
(Full text of statement. Contact details below.)
EPIX Pharmaceuticals, Inc. Announces the P2Y2 Gastrointestinal Early Development Candidate Program Will Be Part of the Intellectual Property Offered For Sale at the September 30, 2009 Auction
WELLESLEY HILLS, Mass., Sept. 2 /PRNewswire-AsiaNet/ --
Joseph F. Finn, Jr., C.P.A. ("Finn"), announced today that the P2Y2 Gastrointestinal Early Development Candidate Program will be part of the intellectual property offered for sale at the September 30, 2009 auction.
The P2Y2, an Early Development Candidate Program, is a small molecule, oral, non-absorbed agonist for treatment of constipation.
The intellectual property, regulatory dossier and clinical inventory will be sold at auction on September 30, 2009.
Persons interested in bidding must sign a Confidentiality Disclosure Agreement ("CDA") obtained from Finn's Office - firstname.lastname@example.org or 781-237-8840. They will then receive a bid package.
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.
He has been involved in a number of loan workouts and bankruptcy cases for thirty-five (35) years. His most recent Assignments for the Benefit of Creditors in the biotech field include Spherics, Inc., ActivBiotics, Inc. and Prospect Therapeutics, Inc.
For further information, please contact Joseph F. Finn, Jr., C.P.A. at 781-237-8840 or email@example.com
SOURCE:: Joseph F. Finn, Jr., C.P.A.
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