Alseres Pharmaceuticals, Inc. Reports 2007 Financial Results and Provides Company ...(s of the Board. The committee consists ...)

of Robert Langer, Sc.D., of MIT who serves as chair of the committee,

Henry Brem, M.D., of Johns Hopkins University School of Medicine and Gary

Frashier, of Management Associates.

Named key thought leaders in the area of spinal cord injury research to

advise on the CETHRIN development program.

In May 2007, Alseres formed a scientific and clinical advisory panel. The

panel is composed of some of the world's leading experts in the field of

SCI and nerve repair: John F. Ditunno, Jr. M.D., of Jefferson Medical

College; James Fawcett, M.D., of Cambridge University Centre for Brain

Repair; Michael G. Fehlings M.D., Ph.D., of the University of Toronto and

Principal Investigator in the CETHRIN Phase I/IIa trial; Daniel P.

Lammertse, M.D., of Craig Hospital; John Steeves, Ph.D., of the University

of British Columbia (UBC) and Vancouver Coastal Health (VCH); and Mark

Tuszynski, M.D., Ph.D., of the University of California at San Diego. They

joined the Company's current scientific advisors: Larry Benowitz, Ph.D.,

Children's Hospital Boston; Zhigang He, Ph.D., Children's Hospital Boston;

and Joseph Bianchine, M.D., former advisor to Schwarz Pharma.

Financial Highlights for 2007

-- Cash, cash equivalents and marketable securities at December 31, 2007

totaled $4.2 million as compared to $1.5 million at December 31, 2006.

Convertible notes payable at December 31, 2007 totaled $23.3 million as

compared to $8 million in notes payable at December 31, 2006.

-- Net loss attributable to common stockholders for 2007 was $19.5

million, or $1.04 per share, as compared to a net loss attributable to

common stockholders of $26.4 million, or $1.59 per share, for 2006.

-- Research and development (R&D) expenses totaled $10.5 million during

2007 as compared to $18.5 mill
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