Epix planning to secure at least one partnership by end of 2007

By Jennifer Lanning Drey

Portland, Ore., Oct. 30 - Epix Pharmaceuticals, Inc. plans to secure at least one pharmaceutical partnership by the end of 2007, chief financial officer Kim Drapkin said at the C.E. Unterberg, Towbin health care conference in New York on Monday.

The company has five clinical programs underway in its proprietary pipeline, which focuses on markets including depression, cardiovascular disease, Alzheimer's disease and obesity.

"We feel our technology has been validated by the collaborations we've secured to date, the collaborations we hope to add in 2007, and we have sufficient cash to see us through a series of upcoming milestones," Drapkin said.

Epix had $114 million of cash at the end of the second quarter.

Planned upcoming milestones for Epix include starting a phase 2a clinical trial of its product candidate PRX-03140 with Aricept in patients with Alzheimer's disease before the end of the year.

Within the same timeframe, the company also plans to report the full data set from a phase 2a clinical trial of its product candidate EP-2104R for thrombus imaging, as well as offer clarity to investors regarding the next steps for Vasovist in the United States, Drapkin said.

Additionally, Epix plans to start a phase 2b study of PRX-0023, which is its long-acting 5-HT1A agonist for the treatment of major depressive disorder, in the first half of 2007. The study will test PRX-0023 at 80 mg and at a higher dosage.

PRX-0023 previously failed to achieve a statistically significant improvement over a placebo in a phase 3 clinical trial of the drug for the treatment of anxiety. However, Drapkin said the drug did have a statistically significant result on its pre-specified secondary endpoint, which measured depressive symptoms.

"This is an active drug. It seems to be working in depression," Drapkin said.

The company will seek a large pharmaceutical partner for the PRX-0823 program in 2007, she said.

Also in 2007, Epix expects to report results from a phase 2a trial of PRX-08066 for pulmonary hypertension associated with chronic obstructive pulmonary disease, as well as results from a phase 1b trial of PRX-07034 for obesity.

EPIX is a pharmaceutical company based in Cambridge, Mass., that develops pharmaceuticals designed to be used in conjunction with imaging for the diagnosis, treatment and monitoring of disease.

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