CPEX Pharmaceuticals Inc., (NASDAQ: CPEX) today announced the appointment of Robert Forrester to its Board of Directors, effective immediately. In conjunction with the appointment, the Board has temporarily expanded the number of seats on the Board to six. As previously announced, Mr. Forrester will stand for election at CPEX’s annual meeting on May 26, 2010 to replace current director Miguel Fernandez, who has chosen to retire at the end of his term.

“We are extremely pleased to have Robert Forrester join our board of directors,” commented James Murphy, Chairman of the Board. “As previously stated when we nominated him, we believe Robert has valuable experience and expertise and is highly qualified to serve on CPEX’s Board. We are appointing Robert to the Board now because we believe he can contribute significantly to our review of the $16.00 per share tender offer commenced by Arcadia Capital Advisors, LLC.”

Mr. Forrester, age 46, is the Chief Operating Officer of Forma Therapeutics, Inc., a biotech company integrating transformative chemistry and biology to unlock the best targets and pathways that genomic medicine has revealed. Mr. Forrester served in various roles at CombinatoRx, Incorporated (NASDAQ: CRXX) from 2004 until January 2010, including as Interim President and CEO through CombinatoRx’s merger with Neuromed, a privately held biopharmaceutical company, in December 2009. In addition to structuring, negotiating and closing this merger, Mr. Forrester guided CombinatoRx through its initial public offering, as well as other public and private financings and research and product development collaborations with large pharmaceutical companies, biotech companies and foundations. Prior to joining CombinatoRx, Mr. Forrester served as Senior Vice President, Finance and Corporate Development at Coley Pharmaceutical Group from 2000 to 2003, a biopharmaceutical company acquired by Pfizer. From 1994 to 2000, Mr. Forrester was a Managing Director of the Proprietary Investment Group at MeesPierson, a division of the Fortis Group where he was part of a merchant banking group investing in life science companies. Prior to MeesPierson, Mr. Forrester was an investment banker at BZW and UBS advising multi-national companies on corporate finance and M&A transactions. Mr. Forrester started his career as a lawyer with Clifford Chance. He is a member of the Board of Directors of Myriad Pharmaceuticals (NASDAQ: MYRX), Atlantic Healthcare, Rhapsody Biologics and MoMelan Technologies. He holds an LL.B. from Bristol University.

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