July 21, 2009 Boston Globe
Cash-strapped Epix Pharmaceuticals Inc. said it is winding down operations and looking to proceed to "an orderly liquidation of its assets" after attempts to obtain additional financing were unsuccessful.
Epix, [was] based in Lexington and ... had been working with the British drug maker GlaxoSmithKline on a potential treatment for Alzheimer's disease
In a press release, Epix said that "in light of the company’s lack of capital and inability to obtain additional financing or consummate a strategic transaction, it has entered into an Assignment for the Benefit of Creditors, effective immediately, in accordance with Massachusetts law (the “Assignment”). The purpose of the Assignment is to conclude the company’s operations and provide for an orderly liquidation of its assets."
To read some previous Globe coverage that referenced Epix, please click here.
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