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(COMTEX) B: Pipex Pharmaceuticals Is Approved for Listing on the American
tock Exchange ( Market Wire )
B: Pipex Pharmaceuticals Is Approved for Listing on the American Stock Exchange
Market Wire )

ANN ARBOR, MI, Jun 20, 2007 (MARKET WIRE via COMTEX) --
Pipex Pharmaceuticals, Inc. ("Pipex" or the "Company") (OTCBB:
PPEX), a specialty pharmaceutical company developing innovative
late-stage oral drug candidates for the treatment of neurologic and
fibrotic diseases, announced today that it has received notice from
the American Stock Exchange ("AMEX"), that its application for listing
on AMEX has been approved. Pipex expects that its shares of common
stock will trade on AMEX beginning at the opening of the market on or
before June 26, 2007 under the new ticker symbol "PP."

Steve H. Kanzer, Chairman and Chief Executive Officer of Pipex,
stated, "We believe this is a significant step in Pipex's growth.
This event is the culmination of focused effort by our founding
management team, the contributions of our exceptional staff,
corporate counsel at every level, and the support and encouragement
of our investors. We believe this new listing will broaden our
visibility and marketability which will enable Pipex to expand its
shareholder base."

The approval for listing on AMEX is contingent upon the Company being
in compliance with all of AMEX's applicable listing standards on the
date the Company begins trading on AMEX, and the approval may be
rescinded if the Company is not in compliance with such standards at
that time.

About Pipex Pharmaceuticals, Inc.

Pipex Pharmaceuticals, Inc. ("Pipex") is a specialty pharmaceutical
company that is developing proprietary, late-stage drug candidates for
the treatment of neurologic and fibrotic diseases. Pipex's strategy
is to exclusively in-license proprietary, clinical-stage drug
candidates and complete the further clinical testing, manufacturing
and regulatory requirements sufficient to seek marketing
authorizations via the filing of New Drug Applications (NDAs) with
the FDA in the U.S. and Marketing Application Authorizations (MAAs)
with the European Medicines Evaluation Agency (EMEA). For further
information please visit www.pipexpharma.com.

This press release contains forward-looking statements, within the
meaning of Section 21E of the Securities Exchange Act of 1934,
including statements that may reflect Pipex's current expectations
about its future results, performance, prospects and opportunities,
including a listing on the American Stock Exchange and building
shareholder value due to that listing. Where possible, Pipex has
tried to identify these forward-looking statements by using words
such as "anticipates," "believes," "intends," or similar expressions.
These statements are subject to a number of risks, uncertainties and
other factors that could cause actual events or results in future
periods to differ materially from what is expressed in, or implied
by, these statements, including the risks set forth in Pipex's
filings with the Securities and Exchange Commission. We cannot assure
you that we will be able to successfully develop or commercialize
products based on our technologies, including COPREXA(TM),
TRIMESTA(TM), Anti-CD4 802-2, CORRECTA(TM), EFFIRMA(TM) and
SOLOVAX(TM), particularly in light of the significant uncertainty
inherent in developing, manufacturing and conducting preclinical and
clinical trials of new pharmaceuticals and obtaining regulatory
approvals, that our technologies will prove to be safe and effective,
that our cash expenditures will not exceed projected levels, that we
will be able to obtain future financing or funds when needed, that
product development and commercialization efforts will not be reduced
or discontinued due to difficulties or delays in clinical trials or
due to lack of progress or positive results from research and
development efforts, that we will be able to successfully obtain any
further grants and awards, maintain our existing grants which are
subject to performance, that we will be able to patent, register or
protect our technology from challenge and products from competition
or maintain or expand our license agreements with our current
licensors, or that our business strategy will be successful. All
forward-looking statements made in this press release are made as of
the date hereof, and Pipex assumes no obligation to update the
forward-looking statements included in this news release whether as a
result of new information, future events, or otherwise, other than as
required by law.
For Further Information Contact:
Steve H. Kanzer, CPA, Esq.
Chairman and Chief Executive Officer
[phone]
Thomas Redington (investor relations)
Redington Inc.
[phone]

SOURCE: Pipex Pharmaceuticals, Inc.
Copyright 2007 Market Wire, All rights reserved.
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