EPIX is focused on the discovery and development of novel, highly selective, small-molecule drugs that target G-Protein Coupled Receptors (GPCRs) and ion channels. Using its proprietary drug discovery technology and approach, EPIX has advanced four drug candidates into clinical trials and has several additional programs in preclinical development and discovery. EPIX has three clinical-stage drug candidates: PRX-03140 for the treatment of Alzheimer's disease, which is currently in two Phase 2b clinical trials - one in combination with Aricept® and the other is a monotherapy trial; PRX-08066 for the treatment of pulmonary hypertension (PH) and PH associated with chronic obstructive pulmonary disease, which recently completed a Phase 2a trial; and, PRX-07034, which completed a Phase 1b trial in April 2007 and is in clinical development for the treatment of cognitive impairment associated with Alzheimer's disease or schizophrenia. The company also has Vasovist®, a novel contrast agent designed to provide improved imaging of the vascular system using magnetic resonance angiography (MRA). Vasovist has been approved in 33 countries outside the U.S. and the company plans to resubmit a New Drug Application (NDA) to the U.S. Food and Drug Administration for Vasovist mid-2008.