ImaRx Therapeutics Transitions Busines...( Focuses on Commercial Product U...),Health

Focuses on Commercial Product Urokinase and Evaluates Strategic

Alternatives for SonoLysis(TM) Development Program

TUCSON, Ariz. Jan. 30 /PRNewswire-FirstCall/ -- ImaRx Therapeutics, Inc. (Nasdaq: IMRX) announced today that it will emphasize growing the market for urokinase in contrast to its previous focus on developing SonoLysis.

The reprioritization of additional value-creating opportunities for urokinase was made possible by the Company's recently signed letter of intent with Microbix Biosystems which provides for manufacture of a long term urokinase supply and will allow the company to explore additional therapeutic applications for the product.

Urokinase, the Company's first commercially available FDA approved product, is a thrombolytic or clot-dissolving agent indicated for the treatment of acute massive pulmonary embolism, or blood clots in the lungs.

Following a comprehensive review of its commercial and development programs as well as external market conditions ImaRx's Board of Directors and management have determined that it is in the best interests of the Company to adjust its emphasis to focus on commercialization of urokinase.

At the same time the company will explore strategic alternatives for continued pursuit and financing of its SonoLysis program-the Company's clinical-stage development program utilizing its proprietary microbubbles and ultrasound to treat ischemic stroke.

This shift of business strategy to place greater emphasis on urokinase is expected to help the Company preserve existing capital and focus its efforts on growing urokinase product sales while maintaining shareholder participation in the SonoLysis opportunity.

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