CepTor Corporation Closes on $2M Institutional Financing.

HUNT VALLEY, Md. -- CepTor Corporation (OTCBB:CEPO), a development-stage biopharmaceutical company focusing on cell targeted therapeutic products for neuromuscular and neurodegenerative diseases, today announced that it raised $2M through a convertible debenture. The note is at 8% interest and

William Pursley, CepTor's Chairman & CEO, said, "This modest financing will allow us to get the Myodur IND submitted on time in January. The filing of the IND will generate an additional $1.5M contract payment from our Japanese partners, JCR Pharmaceuticals. Our next financing objective will be to raise monies to fund the upcoming Phase I/II clinical trial for Myodur in Duchenne Muscular Dystrophy."

About CepTor

CepTor Corporation is a development-stage biopharmaceutical company engaged in the discovery, development, and commercialization of proprietary, cell-targeted therapeutic products for the treatment of neuromuscular and neurodegenerative diseases with a focus on orphan diseases. The Company's mission is to increase the quality and quantity of life of people suffering with these diseases. An orphan disease is defined in the United States as a serious or life-threatening disease that affects less than 200,000 people and for which no definitive therapy currently exists. CepTor Corporation seeks to create an efficient orphan drug platform by taking advantage of the legislative, regulatory and commercial opportunities common to these rare diseases. CepTor's primary efforts are currently being focused on moving its lead product, MYODUR, into phase I/II clinical trials for Duchenne muscular dystrophy. The Company's broad platform technology also includes the development of products for multiple sclerosis, retinal degeneration and epilepsy.

This news release contains forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the FDA review process and other government regulation, our pharmaceutical collaborator's ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third party reimbursement.