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MPEX PHARMACEUTICALS CLOSES $32 MILLION SERIES B FINANCING

August 11, 2005

Mpex Pharmaceuticals, Inc., a biopharmaceutical company focused on the discovery and development of antibacterials for the treatment of life-threatening infections, announced today a $32 million private placement of its Series B preferred stock. New investors SV Life Sciences (lead investor), HBM BioVentures (Cayman) Ltd/HBM BioCapital LPs (co-lead), Aberdare Ventures, and Adams Street Partners join previous investors Western States Investment Group and Charitable Leadership Foundation in this round of financing.

PR Newswire (http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-11-2005/0004086704&EDATE=)