Epix Pharma Shuts Down

Xconomy Boston — 

Epix Pharmaceuticals, the Lexington, MA-based developer of an experimental drug for Alzheimer’s disease, said yesterday it is closing its doors. The company only had enough cash to operate through August, and had been seeking other financing alternatives until it decided to close and liquidate. “It is with great disappointment that the Company must proceed with this decision,” said CEO Elkan Gamzu, in a statement on the company’s website.