Pipex Pharmaceuticals to Host Webcast to Discuss Second Quarter 2007 Results

Pipex Pharmaceuticals, Inc. (AMEX: PP), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of neurologic and fibrotic diseases, announced that it will hold a conference call on Monday, August 13, 2007 at 8:30 a.m. EDT to discuss its second quarter 2007 highlights and financial results. Steve H. Kanzer, Chairman and Chief Executive Officer of Pipex, will host the call. Pipex will announce its financial results for this period in a press release to be issued prior to the call.

In order to participate in the webcast/conference call, please call toll free: 866-696-5911 (US); international dial-in: 416-641-6111, conference ID 3231293. A visual presentation will be available at: http://www.visualwebcaster.com/event.asp?id=41706. The audio recording and visual presentation will be available for replay at http://www.pipexpharma.com for a period of at least 15 days after the call.

About Pipex Pharmaceuticals, Inc.

Pipex Pharmaceuticals, Inc. (“Pipex”) is a specialty pharmaceutical company that is developing proprietary, late-stage drug candidates for the treatment of neurologic and fibrotic diseases Pipex’s strategy is to exclusively in-license proprietary, clinical-stage drug candidates and complete the further clinical testing, manufacturing and regulatory requirements sufficient to seek marketing authorizations via the filing of New Drug Applications (NDAs) with the FDA in the U.S. and Marketing Application Authorizations (MAAs) with the European Medicines Evaluation Agency (EMEA). For further information, please visit, www.pipexpharma.com.

 For Further Information Contact:  Steve H. Kanzer, CPA, Esq. Chairman and Chief Executive Officer (734) 332-7800  Thomas Redington (Investor Relations) Redington Inc. 203-222-7399 www.redingtoninc.com

SOURCE: Pipex Pharmaceuticals, Inc.