Epix Seeks Strategic Alternatives

Luke Timmerman5/12/09

Epix Pharmaceuticals, the Lexington, MA-based developer of an Alzheimer’s drug, said it is seeking strategic alternatives, including a sale or merger, to fund its operations. The company (NASDAQ: EPIX) has hired JP Morgan and Canaccord Adams to assist the board in evaluating its options, according to this AP report. The company needs a cash infusion to operate beyond August, according to the AP.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.