Pipex Pharmaceuticals, Inc. to Present at the RedChip Small Cap Investor Conference in New York City

  Pipex Pharmaceuticals, Inc. (AMEX: PP), a
specialty pharmaceutical company developing innovative late-stage drug
candidates for the treatment of central nervous system and autoimmune
diseases, today announced that its Chief Executive Officer, Nicholas
Stergis, will deliver a financial presentation to investors at the RedChip
Emerging Markets Investor Conference on August 21st at the New York
Marriott Marquis, located at 1535 Broadway, at 9:30am EDT. The investor
conference will be held 8 a.m. to 5 p.m. and Mr. Stergis will be available
throughout the day to meet with investors.

A live webcast of the presentation will be provided by Wall Street Webcasting, accessible via http://www.redchip.com.

About Pipex Pharmaceuticals, Inc.

Pipex Pharmaceuticals, Inc. is a specialty pharmaceutical company that is developing proprietary, late-stage drug candidates for the treatment of central nervous system and autoimmune diseases. Pipex's strategy is to exclusively in-license proprietary, clinical-stage drug candidates and to complete the further clinical testing, manufacturing and regulatory requirements and seek marketing authorizations. Pipex is focused on treating Dry Age-Related Macular Degeneration (AMD), multiple sclerosis (MS), and fibromyalgia. For further information, please visit www.pipexinc.com.

About RedChip Companies, Inc.

RedChip Companies is an international, small-cap research and financial public relations firm with offices in Orlando, Florida; Shanghai; and Paris, with affiliates in Atlanta, San Diego, and New York. RedChip has a national and international network of small-cap institutional and retail investors and has developed a comprehensive platform of products and services for small-cap companies, including: RedChip Research(TM), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Internet TV(TM), and RedChip Radio(TM).

Contact: Nicholas Stergis Chief Executive Officer [phone] Redington, Inc. (Investor Relations) Thomas Redington 203-222-7399 http://www.redingtoninc.com