Press Release November 29, 2006

Elixir Pharmaceuticals Raises $46 Million

BOSTON, Nov. 28, 2006 — Elixir Pharmaceuticals Inc. has announced it has closed Series C and venture debt financings, raising a total of $46 million. The financing included $31 million in equity funding and $15 million in venture debt placement. The funds will enable Elixir to advance its leadership position in the innovation and development of next-generation therapeutics for the treatment of major metabolic disorders, as well as to treat and prevent a broader range of age-related diseases.

The financing was led by MPM Capital with participation from current investors including ARCH Venture Partners, and Oxford BioScience Partners, as well as new investors CDIB, JAFCO and YFY Bioscience. The venture debt was provided by Hercules Technology Growth Capital Inc.

Goodwin Procter attorneys Stuart Cable, Mark Macenka, David Cappillo and Elizabeth DiMare assisted Elixir with the equity financing, and Mark Smith, Kingsley Taft and Scott Allen assisted Elixir with the venture debt financing.