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EpiCept Stockholders Overwhelmingly Approve Final Conditions to Merger with Immune Pharmaceuticals Ltd.
Date:8/7/2013

TARRYTOWN, N.Y., Aug. 7, 2013 /PRNewswire/ -- EpiCept Corporation (Nasdaq and Nasdaq OMX Stockholm Exchange: EPCT) announced today that at its Special Meeting of Stockholders held on August 6, 2013, stockholders overwhelmingly approved the final conditions to the previously announced merger between Immune Pharmaceuticals Ltd. and EpiCept.  Almost 92% of the votes were cast in favor of the proposals, representing more than 66% of EpiCept's outstanding stock as of the record date.

Robert Cook, interim President and CEO of EpiCept, commented, "We are delighted to see such strong stockholder support for this transformative merger with Immune Pharmaceuticals Ltd.  Now that the vote has been delivered and we have received the necessary final approvals, we look forward to closing this transaction within the next few weeks and to commencing a new chapter as Immune Pharmaceuticals, Inc."

Daniel Teper, Chairman and CEO of Immune Pharmaceuticals Ltd., commented, "The overwhelming support from EpiCept's stockholders is a clear vote of confidence in the future of the combined company.  Immune is looking forward to becoming a U.S. company publicly traded in the United States and Sweden, and we intend to list our stock on a U.S. national securities exchange as soon as possible.  We believe the closing of this important transaction will enable us to accelerate the development of our lead product, bertilimumab, into Phase II trials in several indications with high unmet medical needs."

At the meeting, stockholders approved Proposal One, an amendment of  EpiCept's Certificate of Incorporation to effect a reverse stock split of the outstanding common stock at a ratio of one for forty (1:40), subject to an adjustment not to exceed 25%, as reasonably determined by the Board of Directors to be in the
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SOURCE EpiCept Corporation
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