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Alseres Pharmaceuticals Announces Preclinical Study Results Demonstrating that Rho Inhibitors Could Be Useful in Promoting Bone Healing

Results Presented at the Australian and New Zealand Bone and Mineral Society (ANZBMS) Annual Meeting

HOPKINTON, Mass., Aug. 28 /PRNewswire-FirstCall/ -- Alseres Pharmaceuticals, Inc., , announced that data from preclinical studies of the Company's regenerative therapy candidate, ALSE-100, were presented at the Australian and New Zealand Bone and Mineral Society Annual Conference, August 28, 2008-30, 2008 in Melbourne, Australia.


The poster presentation entitled: "Rho Inhibitor (ALSE-100) effects on bone cells in vitro" highlighted the results of a study funded by Alseres and conducted by Dr. Jillian Cornish et al. at the University of Auckland. The study investigated the effects of ALSE-100 on osteoblast and osteoclast cells in culture as well as in an organ culture system. ALSE-100 stimulated differentiation and mineralization to form bone nodules in culture and also inhibited bone resorption, osteoclast development and activity. These effects indicate that ALSE-100 could be useful in promoting bone healing.

"Rho inhibitors have previously been shown in published literature to have a beneficial effect on bone cells," noted Dr. Noel Cusack, Alseres' Senior Vice President of Preclinical Development. "We believe that this study, using a range of doses of one of our Rho inhibitor variants, ALSE-100, has demonstrated that our Rho inhibitor platform may provide potentially attractive therapeutic candidates for promoting bone healing."

About Alseres Pharmaceuticals, Inc.

Alseres Pharmaceuticals, Inc. (ALSE) is engaged in the development of therapeutic and diagnostic products primarily for disorders in the central nervous system (CNS). The Company maintains a world-class intellectual property position in the field of regenerative therapeutics. The Company's energy and focus is reflected in several important initiatives. Cethrin, a recombinant-protein-based drug designed to promote nerve repair after acute spinal cord injury, demonstrated positive interim results in a Phase I/IIa clinical trial. The Company's research and pre-clinical programs include, Inosine for the treatment of spinal cord injury and stroke, Oncomodulin for the treatment of ocular injury and disease and research programs directed at a number of regenerative therapies including bone repair. The Company has a robust molecular imaging development program targeting diagnosis of Parkinson's disease and potentially dementia. The Company's lead molecular imaging product candidate is Altropane which is in Phase III clinical trials for the diagnosis of Parkinsonian Syndromes including Parkinson's Disease. The Company has research collaborations with and Children's Hospital Boston.

Forward-Looking Statements

The foregoing release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward- looking statements include statements regarding Alseres' future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including the development and commercialization of Altropane and Cethrin, the prospects of the Company's CNS and regenerative therapeutics programs, the Company's strategies to develop and commercialize axon regeneration technologies and the breadth of the Company's technologies and intellectual property portfolio. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2008 filed with the Securities and Exchange Commission under the section "Risk Factors," as well as other documents that may be filed by Alseres from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Alseres is providing the information in this press release as of this date and assumes no obligations to update the information in this press release.

Alseres, Cethrin and Altropane are registered trademarks of Alseres Pharmaceuticals, Inc.


    Sharon Correia - 508-497-2360 ext. 224
    Alseres Pharmaceuticals, Inc.

    Adam Friedman - 212-981-2529 ext. 18
    Adam Friedman Associates

CONTACT: Sharon Correia of Alseres Pharmaceuticals, Inc., +1-508-497-2360,ext. 224, , or Adam Friedman of Adam FriedmanAssociates, +1-212-981-2529, ext. 18,

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Ticker Symbol: (NASDAQ-NMS:ALSE)

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Posted: August 2008