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Alseres Pharmaceuticals Concludes Enrollment in the Cethrin(R) Phase I/IIa Clinical Trial in Acute Spinal Cord Injury
Date:1/7/2008

Company plans to begin Phase IIb study in the first half of 2008

HOPKINTON, Mass., Jan. 7 /PRNewswire-FirstCall/ -- Alseres Pharmaceuticals, Inc., (Nasdaq: ALSE), announced today that it has concluded enrollment in the Phase I/IIa clinical trial of Cethrin in acute spinal cord injury (SCI). A total of 48 subjects have been enrolled at 9 sites in the United States and Canada. We expect to release periodic updates of the data in 2008 following protocol-specified patient evaluations.

"We continue to be encouraged by the safety and efficacy observations of the trial. The rate and magnitude of improvement of many subjects seems greater than the expected pattern of recovery," commented Dr. Mark Hurtt, Alseres Chief Medical Officer. "The findings of the Phase I/IIa study serve as a strong foundation for the acceleration of our development plans for Cethrin."

Alseres intends to move forward with its previously announced plans for the placebo-controlled, Cethrin Phase IIb trial in acute spinal cord injury at sites in the U.S., Canada, Europe and other countries in 2008. "We believe that Cethrin continues to be the most advanced drug candidate in the clinic for the treatment of acute spinal cord injury in the world. If approved, Cethrin may offer hope for the nearly 11,000 new cases annually in the U.S. alone whose healthcare costs in the first year post-injury exceed $4 Billion," noted Dr. Mark Pykett, President and COO of Alseres. "We are pleased that the enrollment of the Phase I/IIa trial has concluded. Interim reported data have demonstrated encouraging safety and efficacy results over a 30-fold dose range. We look forward to the initiation of the Phase IIb trial in the first half of 2008."

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SOURCE Alseres Pharmaceuticals, Inc.
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