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Alseres Pharmaceuticals, Inc. Announces $200,000 Financing
Date:2/27/2009

HOPKINTON, Mass., Feb. 27 /PRNewswire-FirstCall/ -- Alseres Pharmaceuticals, Inc. (Nasdaq: ALSE), today announced that on February 24, 2009 it entered into a securities purchase agreement (the "Agreement") with Cato Holding Company (d/b/a Cato BioVentures) for the private placement of 200,000 shares of common stock of the Company at a purchase price of $1.00 per share. The financing resulted in total gross proceeds of $200,000. The Company intends to use the net proceeds from this private placement to satisfy certain amounts owed to Cato Research Ltd., a contract research organization and a related party to Cato BioVentures.

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

The securities offered and sold by Alseres in this private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from registration requirements. Alseres has granted incidental registration rights to Cato BioVentures covering resale of the shares of common stock issued in the private placement.

This notice is issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.

About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development of therapeutic and diagnostic products primari
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