EpiCept Announces Debt Repayment

EpiCept Announces Debt Repayment 

TARRYTOWN, N.Y.--(BUSINESS WIRE)-- Regulatory News: 

EpiCept Corporation (Nasdaq and OMX Nordic Exchange: EPCT) announced today that
it has repaid the outstanding principal balance, together with all remaining
fees, of its $10 million senior secured debt facility with Hercules Technology
Growth Corporation. The Company has no further obligations under this agreement.


About EpiCept Corporation 

EpiCept is focused on unmet needs in the treatment of pain and cancer. The
Company's broad portfolio of pharmaceutical product candidates includes
Ceplene®, a cytokine immunomodulator that recently received marketing
authorization in Europe for the remission maintenance of AML patients, and
several pain therapies in clinical development. Two oncology drug candidates
currently in clinical development that were discovered using in-house technology
have also been shown to act as vascular disruption agents in a variety of solid
tumors. 

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 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 or the
OMX Nordic Exchange 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 U.S. or Canada, the risk that Ceplene® will not
be launched in Europe in the first 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 will not be successful, the risk
that we will not be able to maintain its final regulatory approval or marketing
authorization, the risk that Myriad's development of AzixaTM will not be
successful, the risk that AzixaTM 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 or a timely basis 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
other product candidates, the risks associated with our 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 its 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. 

Contacts
EpiCept Corporation:
Robert W. Cook, 914-606-3500
rcook@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