EpiCept Shares on the OMX Nordic Exchange Transferred Back to Ordinary Position from Observation Segment

EpiCept Shares on the OMX Nordic Exchange Transferred Back to Ordinary Position
from Observation Segment 

TARRYTOWN, N.Y.--(BUSINESS WIRE)--  

EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) today announced that
its common stock traded on the OMX Nordic Exchange in Stockholm has been removed
from the observation segment and transferred back to its ordinary position on
the Exchange as of today, June, 29, 2009. 

On June 26, 2009, NASDAQ OMX announced the return of EpiCept's common stock to
its normal position. In its decision, NASQAQ OMX cited EpiCept's announcement on
June 19, 2009 of a public offering resulting in approximately $8.9 million in
net proceeds, which the Company expects will be sufficient to fund operations
into the second quarter of 2010. 

Jack Talley, President and CEO of EpiCept commented, “We are delighted that the
OMX Nordic Exchange has restored our stock to the ordinary position and that we
are no longer on the observation segment. This transfer is due in part to our
strengthened balance sheet, and also to our financial prospects going forward
due to the regulatory approval of Ceplene® in the European Union as well as our
recently announced Named Patient Program for Ceplene.” 

About EpiCept Corporation 

EpiCept is focused on the development and commercialization of pharmaceutical
products for the treatment of cancer and pain. The Company's lead product is
Ceplene®, which has been granted full marketing authorization by the European
Commission for the remission maintenance and prevention of relapse in adult
patients with Acute Myeloid Leukemia in first remission. The Company has two
oncology drug candidates currently in clinical development that were discovered
using in-house technology and have been shown to act as vascular disruption
agents in a variety of solid tumors. The Company's pain portfolio includes
EpiCeptTM NP-1, a prescription topical analgesic cream in late-stage clinical
development designed to provide effective long-term relief of pain associated
with peripheral neuropathies. 

Forward-Looking Statements 

This news release and any oral statements made with respect to the information
contained in this news release, contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include statements which express plans, anticipation,
intent, contingency, goals, targets, future development and are otherwise not
statements of historical fact. These statements are based on our current
expectations and are subject to risks and uncertainties that could cause actual
results or developments to be materially different from historical results or
from any future results expressed or implied by such forward-looking statements.
Factors that may cause actual results or developments to differ materially
include: the risk that we will not have sufficient authorized shares of stock to
raise equity capital, the risks associated with the adequacy of our existing
cash resources and our ability to continue as a going concern, the risks
associated with our ability to continue to meet our obligations under our
existing debt agreements, the risk that our securities may be delisted by The
Nasdaq Capital Market and that any appeal of the delisting determination may not
be successful, the risk that Ceplene® will not receive regulatory approval or
marketing authorization in the United States or Canada, the risk that Ceplene®
will not be launched in Europe in the second half of 2009 or achieve significant
commercial success, the risk that we are unable to find a suitable marketing
partner for Ceplene® on attractive terms, a timely basis or at all, the risk
that any required post-approval clinical study for Ceplene® will not be
successful, the risk that we will not be able to maintain our final regulatory
approval or marketing authorization for Ceplene®, the risk that Myriad's
development of Azixa™ will not be successful, the risk that Azixa™ will not
receive regulatory approval or achieve significant commercial success, the risk
that we will not receive any significant payments under our agreement with
Myriad, the risk that the development of our other apoptosis product candidates
will not be successful, the risk that we will not be able to find a buyer for
our ASAP technology, the risk that clinical trials for EpiCeptTM NP-1 or
crinobulin will not be successful, the risk that EpiCeptTM NP-1 or crinobulin
will not receive regulatory approval or achieve significant commercial success,
the risk that we will not be able to find a partner to help conduct the Phase
III trials for EpiCeptTM NP-1 on attractive terms, a timely basis or at all, the
risk that our other product candidates that appeared promising in early research
and clinical trials do not demonstrate safety and/or efficacy in larger-scale or
later stage clinical trials, the risk that we will not obtain approval to market
any of our product candidates, the risks associated with dependence upon key
personnel, the risks associated with reliance on collaborative partners and
others for further clinical trials, development, manufacturing and
commercialization of our product candidates; the cost, delays and uncertainties
associated with our scientific research, product development, clinical trials
and regulatory approval process; our history of operating losses since our
inception; the highly competitive nature of our business; risks associated with
litigation; and risks associated with our ability to protect our intellectual
property. These factors and other material risks are more fully discussed in our
periodic reports, including our reports on Forms 8-K, 10-Q and 10-K and other
filings with the U.S. Securities and Exchange Commission. You are urged to
carefully review and consider the disclosures found in our filings which are
available at www.sec.gov or at www.epicept.com. You are cautioned not to place
undue reliance on any forward-looking statements, any of which could turn out to
be wrong due to inaccurate assumptions, unknown risks or uncertainties or other
risk factors. 

EPCT-GEN 

*Azixa is a registered trademark of Myriad Genetics, Inc.

EpiCept Corporation:
Robert W. Cook, 914-606-3500
investor@epicept.com
or
Media:
Feinstein Kean Healthcare
Greg Kelley, 617-577-8110
gregory.kelley@fkhealth.com
or
Investors:
Lippert/Heilshorn & Associates
Kim Sutton Golodetz, 212-838-3777
kgolodetz@lhai.com
or
Bruce Voss, 310-691-7100
bvoss@lhai.com