EPIX Pharmaceuticals Announces First Quarter 2008 Financial Results Release Date and Conference Call

EPIX Pharmaceuticals, Inc. (NASDAQ:EPIX), a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform, today announced that the company will release financial results for the first quarter of 2008, which ended March 31, 2008, before the market opens on Tuesday, May 6, 2008. Michael G. Kauffman, M.D., Ph.D., chief executive officer, and Kim Drapkin, chief financial officer, will host a conference call and webcast at 10:00 a.m. (EDT) on Tuesday, May 6, 2008 to discuss the company’s financial results, recent accomplishments and progress toward 2008 goals.

The call can be accessed by dialing 1-866-383-8108 (domestic) or 1-617-597-5343 (international) five minutes prior to the start time and providing the passcode 98481489. The live webcast can be accessed by visiting the investor relations section of the company’s website at http://investor.epixpharma.com. A replay of the call will be available on the EPIX website approximately two hours after the completion of the call and will be archived for two weeks.

About EPIX

EPIX Pharmaceuticals is a biopharmaceutical company focused on discovering and developing novel therapeutics through the use of its proprietary and highly efficient in silico drug discovery platform. The company has a pipeline of internally-discovered drug candidates currently in clinical development to treat diseases of the central nervous system and lung conditions. EPIX also has collaborations with leading organizations, including GlaxoSmithKline, Amgen, Cystic Fibrosis Foundation Therapeutics and Bayer Schering Pharma. For more information, please visit the company’s website at www.epixpharma.com.

This news release contains express or implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on current expectations of management. These statements relate to, among other things, our expectations and assumptions concerning the timing and content of corporate announcements. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional information regarding these and other risks that we face, see the disclosure contained in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.