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Adeona – A scam by a new name is still a scam…

http://biz.yahoo.com/pz/081016/152257.html

›Pipex Pharmaceuticals, Inc. Completes Corporate Name Change to Adeona Pharmaceuticals and Receives New Ticker Symbol

Thursday October 16, 8:45 am ET

Stock to Trade Under New Ticker Symbol 'AEN' Starting Today

ANN ARBOR, Mich., Oct. 16, 2008 (GLOBE NEWSWIRE) -- Pipex Pharmaceuticals, Inc. (the ``Company'' or ``Pipex'') (AMEX: PP ), a pharmaceutical company developing innovative late-stage oral drug candidates for the treatment of autoimmune and central nervous system diseases, announced today that it has completed a corporate name change from Pipex Pharmaceuticals, Inc. to Adeona Pharmaceuticals, Inc.

As a result of the name change, the American Stock Exchange (AMEX) will begin to trade the Company's shares of common stock as of today, under the new ticker symbol 'AEN.'

Nicholas Stergis, Chief Executive Officer of Adeona, commented, ``As previously announced, we are pleased to have completed our corporate name and ticker symbol change. Our primary focus is toward the continued development of new disease-modifying treatments for autoimmune and central nervous system diseases. This strategy and direction is evident by our recent in-licensing of oral dnaJP1 for the treatment of rheumatoid arthritis (RA) which has completed a 160-patient, double-blind, placebo-controlled phase II clinical trial in RA patients. Oral dnaJP1 complements our existing immunology pipeline which includes, TRIMESTA, an oral treatment for multiple sclerosis (MS) which is currently in a 150-patient double-blind, placebo-controlled phase IIb clinical trial is being funded by a $5 million grant.''

About Adeona

Adeona Pharmaceuticals, Inc. (``Adeona'') is a specialty pharmaceutical company that is developing proprietary, late-stage drug candidates for the treatment of central nervous system and autoimmune diseases. Adeona's strategy is to exclusively in-license clinical-stage drug candidates for the treatment of unmet medical diseases. Adeona is focused on developing products to treat, rheumatoid arthritis, multiple sclerosis, dry age-related macular degeneration (AMD), and fibromyalgia.‹