EPIX Medical, Inc, a developer of specialty pharmaceuticals for magnetic resonance imaging (MRI), announced the departure of Stephen C Knight, MD, EPIX' president and chief operating officer since November 1999.

Dr. Knight is leaving the company to become president of Fidelity Biosciences Group, a unit of Fidelity Investments, overseeing Fidelity's private equity investing in biotechnology interests. He will remain with EPIX through the submission of the company's NDA submission for MS-325. Michael D. Webb, CEO of EPIX will assume the title of president in addition to his other duties.

"We wish Steve success in his new career. He has made a tremendous contribution to the success of EPIX, especially the late-stage development of MS-325," commented Webb. "We appreciate his willingness to provide a smooth transition as we submit the NDA this year. Steve has helped build a team that is well-configured to take the next steps in the development and commercialization of MS-325."

"I believe that MS-325 will be a breakthrough in the field of MRI, providing patients and doctors with a new means for non-invasive vascular imaging," stated Dr. Knight. "The team at EPIX has been a great source of motivation and I am extremely proud of our accomplishments over the last seven years. I am enthusiastic about the successful commercialization of MS-325 and the ability of EPIX to build on its leadership position in targeted imaging agents."