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Pipex Pharmaceuticals (PP) Appoints Co-Founder and Vice Chairman Nicholas Stergis as Chief Executive Officer

Pipex Pharmaceuticals, Inc. (AMEX: PP) recently announced that Nicholas Stergis, co-founder and vice chairman of the board of directors, has joined the executive management team as chief executive officer, replacing Steve H. Kanzer who will continue to serve as the company’s chairman. In addition, the company announced the resignations of Daniel J. Dorman, a director, and Dr. Charles L. Bisgaier, Pipex’s president, effective immediately.

As an original co-founder of Pipex Therapeutics, Inc., the predecessor company, Mr. Stergis has been vice chairman of the company’s board of directors since March 2007. He has also served as Pipex’s chief operating officer from 2001 until October 2006. Prior to co-founding Pipex, Mr. Stergis was co-founder, chief operating officer and director of Developmental Therapeutics, Inc., a cardiovascular drug development company. Mr. Stergis earned his his Bachelor of Science degree in biology from the University at Albany, State University of New York, and his Master of Science degree in biology from New York University.

Pipex Pharmaceuticals, a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of central nervous system and autoimmune diseases, focuses on market opportunities with pharmaceuticals treating multiple sclerosis, dry age-related macular degeneration and fibromyalgia. The company’s strategy is to exclusively in-license proprietary, clinical-stage drug candidates with the ultimate goal of completing clinical testing, manufacturing and regulatory requirements to seek marketing authorizations via the filing of new drug applications.

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