Alseres Pharmaceuticals, Inc. Reports Third Quarter 2008 Operational and Financi...( Conference Call To Be Held Friday No...)

Conference Call To Be Held Friday, November 14, 2008 at 9:00 a.m. Eastern

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HOPKINTON, Mass., Nov. 13 /PRNewswire-FirstCall/ -- Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE) today reports operational and financial results for the quarter ended September 30, 2008 and provides further information for fiscal year 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080813/NEW056LOGO )

"We are encouraged by the progress we have made on our molecular imaging and regenerative therapeutics programs," commented Peter Savas, Chairman and Chief Executive Officer of Alseres. "We continue to pursue partnering discussions around both programs. With the downturn in global capital markets, we have taken numerous steps to allow these programs to continue their progress at a slowed pace until we are able to fully fund their development. Our near-term focus is on accessing capital to bridge us during these difficult times until broader capital markets are restored and/or partnering is realized."

Recent Corporate Highlights

-- Enrollment continues in the first part of the Parkinson's or Essential Tremor, POET-2, Phase III program for Altropane(R) to generate the set of Altropane images that will be used to train the expert readers, as is customary for clinical trials of molecular imaging agents. We expect that we will complete enrollment early in 2009. The second part involves two concurrent, replicate, multi-center Phase III trials. These two concurrent trials are planned to be initiated in mid 2009.

-- In September, Cethrin(R) was granted designation as an orphan medicinal product for the treatmen
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