Biotech, Alzheimer's, Finances

Epix Seeks Strategic Alternatives

Luke Timmerman 5/12/09

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 Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.