EpiCept Reports Total Shares Outstanding

  EpiCept Reports Total Shares Outstanding

Business Wire

TARRYTOWN, N.Y. -- January 31, 2013

Regulatory News:

Pursuant to the requirements of the Swedish Financial Supervisory Authority,
EpiCept Corporation (“EpiCept”) (NASDAQ OMX Stockholm Exchange and OTCQX:
EPCT) today reported that as of January 31, 2013, EpiCept had 106,957,876
shares of its Common Stock outstanding. In January 2013, all 1,065 shares of
EpiCept’s Series B Preferred Stock were converted into approximately 13.3
million shares of its Common Stock.

About EpiCept Corporation

EpiCept is focused on the development and commercialization of pharmaceutical
products for the treatment of pain and cancer. The Company's pain portfolio
includes AmiKet™, a prescription topical analgesic cream in late-stage
clinical development designed to provide effective long-term relief of pain
associated with peripheral neuropathies. The Company's product Ceplene^®, when
used concomitantly with low-dose IL-2 is intended as remission maintenance
therapy in the treatment of AML for adult patients who are in their first
complete remission. The Company sold all of its rights to Ceplene^® in Europe
and certain Pacific Rim countries and a portion of its remaining Ceplene^®
inventory to Meda AB in June 2012. Ceplene^® is licensed to MegaPharm Ltd. to
market and sell in Israel and EpiCept has retained its rights to Ceplene^® in
all other countries, including countries in North and South America. The
Company has other oncology drug candidates 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.

Forward-Looking Statements

This news release and any oral statements made with respect to the information
contained in this news release contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. You are urged
to consider statements that include the words “may,” “will,” “would,” “could,”
“should,” “believes,” “estimates,” “projects,” “potential,” “expects,”
“plans,” “anticipates,” “intends,” “continues,” “forecast,” “designed,”
“goal,” or the negative of those words or other comparable words to be
uncertain and forward-looking. 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 may be unable to complete the proposed merger transaction with Immune
Pharmaceuticals, 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 Azixa^® will not receive regulatory approval or
achieve significant commercial success, the risk that clinical trials for
AmiKet™ or crolibulin^TM will not be successful, the risk that AmiKet™ or
crolibulin^TM 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 AmiKet™ on attractive terms, a timely
basis or at all, the risk that Ceplene^® will not receive regulatory approval
or marketing authorization in the United States or Canada, the risk that
Ceplene^® will not achieve significant commercial success, 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.



EpiCept Corporation:
Robert W. Cook, 914-606-3500
Feinstein Kean Healthcare
Greg Kelley, 617-577-8110
Lippert/Heilshorn & Associates
Kim Sutton Golodetz, 212-838-3777
Bruce Voss, 310-691-7100
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