July 18, 2008

Akesis Pharmaceuticals Names Christos Mantzoros, MD, DSc to Its Scientific Advisory Board

Akesis Pharmaceuticals, Inc. (OTCBB: AKES), an emerging metabolic disease drug development company, today announced it has appointed Christos Mantzoros, MD, DSc, to its scientific advisory board (SAB). Dr. Mantzoros is an Associate Professor of Medicine at Harvard Medical School and an Associate Professor in Epidemiology at the Harvard School of Public Health. He serves as the Clinical Research Overseer of the Division of Endocrinology Diabetes and Metabolism at Beth Israel Deaconess Medical Center and the Joslin Diabetes Center in Boston, and is a member of the Executive Committee of the Scholars in Clinical Science Program, a postgraduate clinical investigators training program at Harvard Medical School.

"We are extremely pleased that Christos Mantzoros agreed to join our SAB. I look forward to interacting with him as we evaluate the potential of AKP-020 in the diabetic setting and as we begin to expand our metabolic disease drug candidate pipeline," stated Carl LeBel, Ph.D., Akesis' President and Chief Operating Officer.

Dr. Mantzoros obtained an MD and DSc from the University of Athens Medical School, a Master's in Clinical Epidemiology from Harvard School of Public Health and a Master's in Medical Sciences (Clinical Investigation) from Harvard Medical School. He has received Board certification in Internal Medicine, Endocrinology, Diabetes and Metabolism and in Clinical Nutrition.

Dr. Mantzoros is an internationally recognized expert on obesity and diabetes, and has published two books ("Diabetes and Obesity" and "Nutrition and Metabolism"), more than 200 original papers, more than 90 chapters and reviews, and has received more than 9,000 citations. He serves on the editorial board of several journals, including the Journal of Clinical Endocrinology and Metabolism.

With this appointment Dr. Mantzoros joins an Akesis SAB currently comprised of University of British Columbia researchers Chris Orvig, Ph.D., professor of chemistry and pharmaceutical sciences, and John McNeill, Ph.D., professor and dean emeritus, pharmaceutical sciences, as well as Michael Scaife, Ph.D., biopharmaceutical industry veteran and expert in regulatory affairs and product development. Professors Orvig and McNeill, who are experts in the study of metal chemistry and pharmaceutical sciences are the inventors of AKP-020, the product designation for a novel vanadium compound otherwise known as bis(ethylmaltolato)oxovanadium (IV), or BEOV. AKP-020 is licensed exclusively to Akesis and is currently being evaluated in Phase 2 studies for the potential treatment of type 2 diabetes mellitus.

About Akesis Pharmaceuticals

Akesis Pharmaceuticals has a pipeline of innovative oral product candidates for the treatment of diabetes and related metabolic disorders. These product candidates are supported by issued and filed U.S. patents for both prescription and over-the-counter treatments that combine anti-diabetic trace minerals with certain classes of diabetes oral agents. Akesis' product candidates have demonstrated preliminary evidence of efficacy in lowering and controlling blood glucose levels in patients with Type 2 diabetes. Blood sugar control via oral drugs represents a market opportunity in the billions of dollars, as reports indicate that approximately 20 million people suffer from diabetes in the United States alone. More information can be found at www.akesis.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can generally be identified as such because the context of the statement will include words such as "will", "expects", "should", "believes", "anticipates" or words or phrases of similar meaning. Examples of such statements include statements relating to the Company's plans regarding the development of AKP-020 and the expansion of the Company's metabolic disease drug candidate pipeline. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in Akesis' filings with the Securities and Exchange Commission, including Akesis' most recent annual report on Form 10-KSB and quarterly reports on Form 10-Q. These forward-looking statements are only made as of the date of this press release, and Akesis does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.