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  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt">As filed with the Securities and Exchange Commission on
  February&nbsp;7, 2008
  </DIV>
  
  
  <DIV align="right" style="font-size: 10pt; margin-top: 1pt">Registration No.&nbsp;333-_____
  </DIV>
  
  
  <DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
  <DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>
  
  
  
  
  <DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION</B>
  </DIV>
  
  <DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
  </DIV>
  
  <DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
  </DIV>
  
  
  <DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER<BR>
  THE SECURITIES ACT OF 1933</B>
  </DIV>
  
  <DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Alseres Pharmaceuticals, Inc.</B>
  </DIV>
  
  <DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>
  
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="47%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="47%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><B>Delaware</B><BR>
  (State or Other Jurisdiction of Incorporation <BR>
  or Organization)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B>87-0277826</B><BR>
  (I.R.S. Employer<BR>
  Identification No.)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="47%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="47%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><B>85 Main Street <BR>
  Hopkinton, MA</B><BR>
  (Address of Principal Executive Offices)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><B><br>01748</B><BR>
  (Zip Code)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>2005 Stock Incentive Plan, as amended</B><BR>
  (Full Title of the Plan)
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Peter G. Savas<BR>
  Chairman and Chief Executive Officer<BR>
  Alseres Pharmaceuticals, Inc.<BR>
  85 Main Street<BR>
  Hopkinton, MA 01748</B><BR>
  (Name and Address of Agent For Service)
  </DIV>
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>(508)-497-2360</B><BR>
  (Telephone Number, Including Area Code, of Agent For Service)
  </DIV>
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
  filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large
  accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule&nbsp;12b-2 of the
  Exchange Act. (Check one):
  </DIV>
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="23%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
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      <TD width="2%">&nbsp;</TD>
      <TD width="23%">&nbsp;</TD>
      <TD width="2%">&nbsp;</TD>
      <TD width="23%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;Large accelerated filer
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;Accelerated filer
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;Non-accelerated filer<BR>
  <FONT style="white-space: nowrap">(Do not check if a smaller reporting company)</FONT>
  </TD>
      <TD>&nbsp;</TD>
  
  <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#254;</FONT>&nbsp;Smaller reporting company</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="1%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="0%">&nbsp;</TD><!-- VRule -->
      <TD width="0%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="7%">&nbsp;</TD>
      <TD width="0%">&nbsp;</TD><!-- VRule -->
      <TD width="0%">&nbsp;</TD>
      <TD width="16%">&nbsp;</TD>
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      <TD width="0%">&nbsp;</TD>
      <TD width="16%">&nbsp;</TD>
      <TD width="0%">&nbsp;</TD><!-- VRule -->
      <TD width="0%">&nbsp;</TD>
      <TD width="16%">&nbsp;</TD>
  
      <TD width="1%">&nbsp;</TD>
  </TR><TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="17" style="border-bottom: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 3px double #000000">&nbsp;</TD>
  
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Proposed</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Proposed</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">&nbsp;</TD>
      <TD width="1%" style="border-right: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 3px double #000000">&nbsp;</TD>
  
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Maximum</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Maximum</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Amount of</TD>
      <TD width="1%" style="border-right: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 3px double #000000">&nbsp;</TD>
  
      <TD nowrap align="center">Title of Securities to be</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Amount to be</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Offering Price</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Aggregate</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Registration</TD>
      <TD width="1%" style="border-right: 3px double #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 10pt" valign="bottom">    <TD width="1%" style="border-left: 3px double #000000">&nbsp;</TD>
  
      <TD nowrap align="center">Registered</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" colspan="3">Registered(1)</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Per Share</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Offering Price</TD>
      <TD style="border-right: 1px solid #000000">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center">Fee</TD>
      <TD width="1%" style="border-right: 3px double #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD width="1%" style="border-left: 3px double #000000; border-top: 1px solid #000000">&nbsp;</TD>
                      <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, $0.01 par value
  per share
  </DIV></TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD nowrap align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
      <TD align="right" valign="top" style="border-top: 1px solid #000000">400,000</TD>
      <TD nowrap valign="top" style="border-top: 1px solid #000000">(2)</TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
  
  <TD align="center" valign="top" style="border-top: 1px solid #000000">$2.81(3)
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
  
  <TD align="center" valign="top" style="border-top: 1px solid #000000">$1,124,000(3)
  </TD>
      <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
      <TD style="border-top: 1px solid #000000">&nbsp;</TD>
  
  <TD align="center" valign="top" style="border-top: 1px solid #000000">$44.18</TD>
      <TD width="1%" style="border-right: 3px double #000000; border-top: 1px solid #000000">&nbsp;</TD>
  </TR>
  <TR style="font-size: 1px" valign="bottom">
      <TD nowrap align="left" colspan="17" style="border-top: 3px double #000000">&nbsp;</TD>
  </TR>
  
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(1)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>In accordance with Rule&nbsp;416 under the Securities Act of 1933, as amended, this registration
  statement shall be deemed to cover any additional securities that may from time to time be
  offered or issued to prevent dilution resulting from stock splits, stock dividends or similar
  transactions.</TD>
  </TR>
  
  </TABLE>
  </DIV>
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(2)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>Represents an automatic increase of 400,000 shares of the Registrant&#146;s common stock on
  January&nbsp;1, 2008, which annual increase is provided for in the 2005 Stock Incentive Plan, as
  amended.</TD>
  </TR>
  
  </TABLE>
  </DIV>
  
  <DIV style="margin-top: 6pt">
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  
  <TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
      <TD width="1%" nowrap align="left">(3)</TD>
      <TD width="1%">&nbsp;</TD>
      <TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c)
  and 457(h) of the Securities Act of 1933, as amended, and based upon the average of the high
  and low prices of the Registrant&#146;s Common Stock as reported on the Nasdaq Capital Market on
  February&nbsp;6, 2008.</TD>
  </TR>
  
  </TABLE>
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <!-- TOC -->
  <A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>
  
  <P><CENTER>
  <TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
  <TR>
  	<TD width="3%"></TD>
  	<TD width="3%"></TD>
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  	<TD width="3%"></TD>
  	<TD width="76%"></TD>
  </TR>
  <TR><TD colspan="9"><A HREF="#000">PART I<BR> INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1.&nbsp;&nbsp; Plan Information.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2.&nbsp;&nbsp; Registrant Information and Employee Plan Annual Information.</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#003">PART II<BR> INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3.&nbsp;&nbsp; Incorporation of Documents by Reference.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4.&nbsp;&nbsp; Description of Securities.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5.&nbsp;&nbsp; Interests of Named Experts and Counsel.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6.&nbsp;&nbsp; Indemnification of Directors and Officers.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7.&nbsp;&nbsp; Exemption from Registration Claimed.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8.&nbsp;&nbsp; Exhibits.</A></TD></TR>
  <TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9.&nbsp;&nbsp; Undertakings.</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
  <TR><TD colspan="9"><A HREF="#012">INDEX TO EXHIBITS</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b68388apexv5.htm">Ex-5 Opinion of Wilmer Cutler Pickering Hale and Dorr LLP</A></TD></TR>
  <TR><TD colspan="9"><A HREF="b68388apexv23w2.htm">Ex-23.2 Consent of PricewaterhouseCoopers LLP</A></TD></TR>
  </TABLE>
  </CENTER>
  <!-- /TOC -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  
  
  
  
  
  
  
  
  
  <!-- link1 "PART I<BR> INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS" -->
  <DIV align="left"><A NAME="000"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I<BR>
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
  </DIV>
  
  <!-- link2 "Item&nbsp;1.&nbsp;&nbsp; Plan Information." -->
  <DIV align="left"><A NAME="001"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;1.&nbsp;&nbsp; Plan Information.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required by Item&nbsp;1 is included in documents sent or given to participants in
  the plan covered by this registration statement pursuant to Rule&nbsp;428(b)(1) of the Securities Act of
  1933, as amended (the &#147;Securities Act&#148;).
  </DIV>
  <!-- link2 "Item&nbsp;2.&nbsp;&nbsp; Registrant Information and Employee Plan Annual Information." -->
  <DIV align="left"><A NAME="002"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;2.&nbsp;&nbsp; Registrant Information and Employee Plan Annual Information.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The written statement required by Item&nbsp;2 is included in documents sent or given to
  participants in the plan covered by this registration statement pursuant to Rule&nbsp;428(b)(1) of the
  Securities Act.
  </DIV>
  <!-- link1 "PART II<BR> INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
  <DIV align="left"><A NAME="003"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II<BR>
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
  </DIV>
  
  <!-- link2 "Item&nbsp;3.&nbsp;&nbsp; Incorporation of Documents by Reference." -->
  <DIV align="left"><A NAME="004"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;3.&nbsp;&nbsp; Incorporation of Documents by Reference.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant is subject to the informational and reporting requirements of Sections&nbsp;13(a),
  14, and 15(d) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), and in
  accordance therewith files reports, proxy statements and other information with the Securities and
  Exchange Commission (the &#147;Commission&#148;). The following documents, which are on file with the
  Commission, are incorporated in this registration statement by reference:
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s latest annual report filed pursuant to Section 13(a) or 15(d) of the
  Exchange Act or the latest prospectus filed pursuant to Rule 424(b) under the Securities Act that
  contains audited financial statements for the registrant&#146;s latest fiscal year for which such
  statements have been filed.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the
  end of the fiscal year covered by the document referred to in (a)&nbsp;above.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The description of the securities contained in the registrant&#146;s registration statement on
  Form 8-A filed under the Exchange Act, including any amendment or report filed for the purpose of
  updating such description.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and
  15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that
  all securities offered hereby have been sold or which deregisters all securities then remaining
  unsold, shall be deemed to be incorporated by reference in this registration statement and to be
  part hereof from the date of the filing of such documents. Any statement contained in a document
  incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
  superseded for the purposes of this registration statement to the extent that a statement contained
  herein or in any other subsequently filed document which also is or is deemed to be incorporated by
  reference herein modifies or supersedes such statement. Any statement so modified or superseded
  shall not be deemed, except as so modified or superseded, to constitute a part of this registration
  statement.
  </DIV>
  <!-- link2 "Item&nbsp;4.&nbsp;&nbsp; Description of Securities." -->
  <DIV align="left"><A NAME="005"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;4.&nbsp;&nbsp; Description of Securities.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->-1-<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link2 "Item&nbsp;5.&nbsp;&nbsp; Interests of Named Experts and Counsel." -->
  <DIV align="left"><A NAME="006"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;5.&nbsp;&nbsp; Interests of Named Experts and Counsel.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wilmer Cutler Pickering Hale and Dorr LLP (&#147;WilmerHale&#148;) has opined as to the legality of the
  securities being offered by this registration statement.
  </DIV>
  <!-- link2 "Item&nbsp;6.&nbsp;&nbsp; Indemnification of Directors and Officers." -->
  <DIV align="left"><A NAME="007"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;6.&nbsp;&nbsp; Indemnification of Directors and Officers.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsection (a)&nbsp;of Section&nbsp;145 of the Delaware General Corporation Law empowers a corporation
  to indemnify any person who was or is threatened to be made a party to any threatened, pending or
  completed action, suit or proceeding, whether civil, criminal, administrative or investigative
  (other than an action by or in the right of the corporation) by reason of the fact that he or she
  is or was a director, officer, employee or agent of the corporation, or is or was serving at the
  request of the corporation as a director, officer, employee or agent of another corporation,
  partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#146;
  fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or
  her in connection with such action, suit or proceeding if he or she acted in good faith and in a
  manner he or she reasonably believed to be in or not opposed to the best interests of the
  corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to
  believe his or her conduct was unlawful.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsection (b)&nbsp;of Section&nbsp;145 empowers a corporation to indemnify any person who was or is a
  party or is threatened to be made a party to any threatened, pending or completed action or suit by
  or in the right of the corporation to procure a judgment in its favor by reason of the fact that he
  or she is or was a director, officer, employee or agent of the corporation, or is or was serving at
  the request of the corporation as a director, officer, employee or agent of another corporation,
  partnership, joint venture, trust or other enterprise, against expenses (including attorneys&#146; fees)
  actually and reasonably incurred by him or her in connection with the defense or settlement of such
  action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be
  in or not opposed to the best interests of the corporation and except that no indemnification shall
  be made in respect of any claim, issue or matter as to which such person shall have been adjudged
  to be liable to the corporation unless and only to the extent that the Court of Chancery or the
  court in which such action or suit was brought shall determine upon application that, despite the
  adjudication of liability but in view of all of the circumstances of the case, such person is
  fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such
  other court shall deem proper.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 further provides that to the extent a director or officer of a corporation has
  been successful in the defense of any action, suit or proceeding referred to in subsection (a)&nbsp;and
  (b)&nbsp;or in the defense of any claim, issue or matter therein, he or she shall be indemnified against
  expenses (including attorneys&#146; fees) actually and reasonably incurred by him or her in connection
  therewith; that the indemnification provided by Section&nbsp;145 shall not be deemed exclusive of any
  other rights to which the indemnified party may be entitled; and that the scope of indemnification
  extends to directors, officers, employees, or agents of a constituent corporation absorbed in a
  consolidation or merger and persons serving in that capacity at the request of the constituent
  corporation for another. Section&nbsp;145 also empowers a corporation to purchase and maintain insurance
  on behalf of a director or officer of the corporation against any liability asserted against him or
  her or incurred by him or her in any such capacity or arising out of his or her status as such
  whether or not the corporation would have the power to indemnify him or her against such
  liabilities under Section&nbsp;145.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VI of our By-laws specifies that we shall indemnify our directors, officers, employees
  and agents because he or she was or is a director, officer, employee or agent of ours or was or is
  serving at the request of us as a director, officer, employee or agent of another entity to the
  full extent that such right of indemnity is permitted by the laws of the State of Delaware. This
  provision of the By-laws is deemed
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->-2-<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">to be a contract between us and each director and officer who serves in such capacity at any
  time while such provision and the relevant provisions of the Delaware General Corporation Law are
  in effect, and any repeal or modification thereof shall not offset any action, suit or proceeding
  theretofore or thereafter brought or threatened based in whole or in part upon any such state of
  facts.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alseres has executed indemnification agreements with each of its officers and directors
  pursuant to which Alseres has agreed to indemnify such parties to the full extent permitted by law,
  subject to certain exceptions, if such party becomes subject to an action because such party is a
  director, officer, employee, agent or fiduciary of Alseres.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102 of the Delaware General Corporation Law permits a corporation to eliminate the
  personal liability of directors of a corporation to the corporation or its stockholders for
  monetary damages for a breach of fiduciary duty as a director, except where the director breached
  his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly
  violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of
  Delaware corporate law or obtained an improper personal benefit. This section also will have no
  effect on claims arising under the federal securities laws. We have adopted the provisions of
  Section&nbsp;102(b)(7) of the Delaware General Corporation Law which eliminate or limit the personal
  liability of a director to us or our stockholders for monetary damages for breach of fiduciary duty
  under certain circumstances.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, we maintain insurance on behalf of our directors and officers insuring them
  against any liability asserted against them in their capacities as directors or officers or arising
  out of such status.
  </DIV>
  <!-- link2 "Item&nbsp;7.&nbsp;&nbsp; Exemption from Registration Claimed." -->
  <DIV align="left"><A NAME="008"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;7.&nbsp;&nbsp; Exemption from Registration Claimed.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
  </DIV>
  <!-- link2 "Item&nbsp;8.&nbsp;&nbsp; Exhibits." -->
  <DIV align="left"><A NAME="009"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;8.&nbsp;&nbsp; Exhibits.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Exhibit&nbsp;Index immediately preceding the exhibits is incorporated herein by reference.
  </DIV>
  <!-- link2 "Item&nbsp;9.&nbsp;&nbsp; Undertakings." -->
  <DIV align="left"><A NAME="010"></A></DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;9.&nbsp;&nbsp; Undertakings.</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U><I>Item&nbsp;</I><I>512(a)</I><I> of Regulation&nbsp;S-K</I></U>. The undersigned registrant hereby undertakes:
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To file, during any period in which offers or sales are being made, a
  post-effective amendment to this registration statement:
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; To reflect in the prospectus any facts or events arising after the effective date
  of the registration statement (or the most recent post-effective amendment thereof) which,
  individually or in the aggregate, represent a fundamental change in the information set
  forth in the registration statement; and
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp; To include any material information with respect to the plan of distribution not
  previously disclosed in the registration statement or any material change to such
  information in the registration statement;
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->-3-<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><I>provided, however, </I>that paragraphs (i)&nbsp;and (ii)&nbsp;do not apply if the information required to
  be included in a post-effective amendment by those paragraphs is contained in reports filed
  with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or Section
  15(d) of the Exchange Act that are incorporated by reference in the registration statement.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That, for the purpose of determining any liability under the Securities Act, each
  such post-effective amendment shall be deemed to be a new registration statement relating to
  the securities offered therein, and the offering of such securities at that time shall be
  deemed to be the initial <I>bona fide </I>offering thereof.
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To remove from registration by means of a post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U><I>Item&nbsp;</I><I>512(b)</I><I> of Regulation&nbsp;S-K</I></U>. The undersigned registrant hereby undertakes that,
  for purposes of determining any liability under the Securities Act, each filing of the registrant&#146;s
  annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated
  by reference in the registration statement shall be deemed to be a new registration statement
  relating to the securities offered therein, and the offering of such securities at that time shall
  be deemed to be the initial <I>bona fide </I>offering thereof.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U><I>Item&nbsp;</I><I>512(h)</I><I> of Regulation&nbsp;S-K</I></U>. Insofar as indemnification for liabilities arising
  under the Securities Act may be permitted to directors, officers and controlling persons of the
  registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that
  in the opinion of the Securities and Exchange Commission such indemnification is against public
  policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
  claim for indemnification against such liabilities (other than the payment by the registrant of
  expenses incurred or paid by a director, officer or controlling person of the registrant in the
  successful defense of any action, suit or proceeding) is asserted by such director, officer or
  controlling person in connection with the securities being registered, the registrant will, unless
  in the opinion of its counsel the matter has been settled by controlling precedent, submit to a
  court of appropriate jurisdiction the question whether such indemnification by it is against public
  policy as expressed in the Securities Act and will be governed by the final adjudication of such
  issue.
  </DIV>
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->-4-<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  <!-- link1 "SIGNATURES" -->
  <DIV align="left"><A NAME="011"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
  </DIV>
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
  has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
  has duly caused this registration statement to be signed on its behalf by the undersigned,
  thereunto duly authorized, in City of Hopkinton, Commonwealth of
  Massachusetts, on this 7th&nbsp;day of
  February, 2008.
  </DIV>
  
  <TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
  <TR>
      <TD width="48%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="1%">&nbsp;</TD>
      <TD width="35%">&nbsp;</TD>
      <TD width="15%">&nbsp;</TD>
  </TR>
  <TR>
      <TD valign="top" align="left">&nbsp;</TD>
      <TD colspan="3" align="left">ALSERES PHARMACEUTICALS, INC.<BR>
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD valign="top">By:&nbsp;&nbsp;</TD>
      <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Peter G. Savas
  &nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Peter G. Savas&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR><TR>
      <TD align="left">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD colspan="2" align="left">Chief Executive Officer and Chairman&nbsp;</TD>
      <TD>&nbsp;</TD>
  </TR>
  <TR>
      <TD colspan="5">&nbsp;</TD>
  </TR>
  </TABLE>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY AND SIGNATURES</B>
  </DIV>
  
  
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We, the undersigned officers and directors of Alseres Pharmaceuticals, Inc., hereby severally
  constitute and appoint Peter G. Savas and Kenneth L. Rice, and each of them singly, our true and
  lawful attorneys with full power to them, and each of them singly, to sign for us and in our names
  in the capacities indicated below, the registration statement on Form S-8 filed herewith and any
  and all subsequent amendments to said registration statement, and generally to do all such things
  in our names and on our behalf in our capacities as officers and directors to enable Alseres
  Pharmaceuticals, Inc. to comply with the provisions of the Securities Act of 1933, as amended, and
  all requirements of the Securities and Exchange Commission, hereby ratifying and confirming our
  signatures as they may be signed by our said attorneys, or any of them, to said registration
  statement and any and all amendments thereto.
  </DIV>
  
  <DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement has
  been signed by the following persons in the capacities and on the dates indicated.
  </DIV>
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="30%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="40%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="20%">&nbsp;</TD>
  </TR>
  <TR style="font-size: 10pt" valign="bottom">
      <TD nowrap align="center" style="border-bottom: 0px solid #000000"><u><B>Signature</B></u></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B><u>Title</u></B></TD>
      <TD>&nbsp;</TD>
      <TD nowrap align="center" style="border-bottom: 0px solid #000000"><B><u>Date</u></B></TD>
  </TR>
  
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ Peter G. Savas
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  Peter G. Savas</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Chairman and Chief
  Executive Officer
  <br>(Principal
  Executive Officer)
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ Kenneth L. Rice, Jr.
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  Kenneth L. Rice, Jr.</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Executive Vice
  President Finance
  and Administration
  <br>and Chief Financial
  Officer <br>(Principal
  Financial and
  Accounting Officer
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ Henry Brem
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  Henry Brem</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ Gary Frashier
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  Gary Frashier</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->-5-<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="30%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="40%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="20%">&nbsp;</TD>
  </TR>
  
  <!-- End Table Head -->
  
  <!-- Begin Table Body -->
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ William L.S. Guinness
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  William L.S. Guinness</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ Robert S. Langer, Jr.
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  Robert S. Langer, Jr.</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ Michael J. Mullen
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  Michael J. Mullen</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <TR valign="bottom" style="padding-top: 1em">
      <TD align="left" nowrap valign="top">/s/ John T. Preston
  <DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
  John T. Preston</TD>
      <TD>&nbsp;</TD>
      <TD align="left" nowrap valign="top">
  Director
  </TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">February&nbsp;7, 2008</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->-6-<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  <!-- link1 "INDEX TO EXHIBITS" -->
  <DIV align="left"><A NAME="012"></A></DIV>
  
  <DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEX TO EXHIBITS</B>
  </DIV>
  
  <DIV align="center">
  <TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
  <!-- Begin Table Head -->
  <TR valign="bottom">
      <TD width="10%">&nbsp;</TD>
      <TD width="8%">&nbsp;</TD>
      <TD width="82%">&nbsp;</TD>
  </TR>
  <!-- End Table Head -->
  <!-- Begin Table Body -->
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><u>Number</u>
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top"><u>Description</u></TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Amended and Restated Certificate of Incorporation,
  dated March&nbsp;29, 1996, as amended on June&nbsp;9, 1997.(1)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Certificate of Amendment of Amended and Restated
  Certificate of Incorporation filed on June&nbsp;28, 1999.(2)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Certificate of Amendment of Amended and Restated
  Certificate of Incorporation filed June&nbsp;14, 2000;
  Certificate of Correction filed March&nbsp;14, 2001.(3)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Restated Certificate of Designations, Preferences, and
  Rights of Series&nbsp;D Preferred Stock filed September&nbsp;13,
  2001 (4); Certificate of Amendment of Amended and
  Restated Certificate of Incorporation filed on June&nbsp;11,
  2002 (5); Certificate of Amendment of Amended and
  Restated Certificate of Incorporation of the Company,
  dated as of July&nbsp;9, 2003 (6); Certificate of
  Designations, Rights and Preferences of the Series&nbsp;E
  Cumulative Convertible Preferred Stock of the Company
  (7); Certificate of Amendment of Amended and Restated
  Certificate of Incorporation of the Company, dated as
  of August&nbsp;5, 2004 (8); Certificate of Amendment of
  Amended and Restated Certificate of Incorporation of
  the Company, dated as of February&nbsp;4, 2005 (9);
  Amendment No.&nbsp;1 to Certificate of Designations, Rights
  and Preferences of the Series&nbsp;E Cumulative Convertible
  Preferred Stock of the Company, dated as of February&nbsp;4,
  2005 (9); Certificate of Amendment of Amended and
  Restated Certificate of Incorporation filed on June&nbsp;7,
  2007 (10)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.5
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Amended and Restated By Laws, effective as of December
  6, 2007 (11)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Opinion of Wilmer Cutler Pickering Hale and Dorr LLP,
  counsel to the Registrant</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of Wilmer Cutler Pickering Hale and Dorr LLP
  (included in Exhibit&nbsp;5)</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Consent of PricewaterhouseCoopers LLP</TD>
  </TR>
  <TR valign="bottom"><!-- Blank Space -->
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
      <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
  </DIV></TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">Power of attorney (included on the signature pages of
  this registration statement)</TD>
  </TR>
  <!-- End Table Body -->
  </TABLE>
  </DIV>
  
  
  
  <DIV align="left">
  <DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
  </DIV>
  
  <TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
  <TR>
      <TD width="3%"></TD>
      <TD width="1%"></TD>
      <TD width="96"></TD>
  </TR>
  
  <TR valign="top">
      <TD nowrap align="left">(1)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31, 1998</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(2)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Quarterly Report on Form 10-Q for the quarter ended September&nbsp;30, 1999</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(3)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Annual report on Form 10-K for the year ended December&nbsp;31, 2000</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(4)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Registration Statement on Form 8-A/A dated September&nbsp;13, 2001</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(5)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Proxy Statement in connection with its 2002 Annual Meeting of
  Stockholders</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(6)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Quarterly Report on Form 10-Q for the quarter ended June&nbsp;30, 2003</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(7)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Report on Form 8-K dated December&nbsp;9, 2003</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(8)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Report on Form 10-Q dated August&nbsp;13, 2004</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(9)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Report on Form 8-K dated February&nbsp;7, 2005</TD>
  </TR>
  
  </TABLE>
  
  
  <P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
  </DIV>
  
  <!-- PAGEBREAK -->
  <P><HR noshade><P>
  <H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
  
  <DIV style="font-family: 'Times New Roman',Times,serif">
  
  
  
  
  
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      <TD width="1%"></TD>
      <TD width="96"></TD>
  </TR>
  
  <TR valign="top">
      <TD nowrap align="left">(10)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Report on Form 8-K dated June&nbsp;8, 2007</TD>
  </TR>
  
  <TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>
  
  <TR valign="top">
      <TD nowrap align="left">(11)</TD>
      <TD>&nbsp;</TD>
      <TD>Incorporated by reference to the Registrant&#146;s Report on Form 8-K dated December&nbsp;7, 2007</TD>
  </TR>
  
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text: sv8
  Table of Contents
  As filed with the Securities and Exchange Commission on
  February 7, 2008
  Registration No. 333-_____
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT UNDER
  THE SECURITIES ACT OF 1933
  Alseres Pharmaceuticals, Inc.
  (Exact Name of Registrant as Specified in Its Charter)
  Delaware
  (State or Other Jurisdiction of Incorporation
  or Organization)
  87-0277826
  (I.R.S. Employer
  Identification No.)
  85 Main Street
  Hopkinton, MA
  (Address of Principal Executive Offices)
  01748
  (Zip Code)
  2005 Stock Incentive Plan, as amended
  (Full Title of the Plan)
  Peter G. Savas
  Chairman and Chief Executive Officer
  Alseres Pharmaceuticals, Inc.
  85 Main Street
  Hopkinton, MA 01748
  (Name and Address of Agent For Service)
  (508)-497-2360
  (Telephone Number, Including Area Code, of Agent For Service)
  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated
  filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large
  accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the
  Exchange Act. (Check one):
  o
  Large accelerated filer
  o
  Accelerated filer
  o
  Non-accelerated filer
  (Do not check if a smaller reporting company)
  þ
  Smaller reporting company
  CALCULATION OF REGISTRATION FEE
  Proposed
  Proposed
  Maximum
  Maximum
  Amount of
  Title of Securities to be
  Amount to be
  Offering Price
  Aggregate
  Registration
  Registered
  Registered(1)
  Per Share
  Offering Price
  Fee
  Common Stock, $0.01 par value
  per share
  400,000
  (2)
  $2.81(3)
  $1,124,000(3)
  $44.18
  (1)
  In accordance with Rule 416 under the Securities Act of 1933, as amended, this registration
  statement shall be deemed to cover any additional securities that may from time to time be
  offered or issued to prevent dilution resulting from stock splits, stock dividends or similar
  transactions.
  (2)
  Represents an automatic increase of 400,000 shares of the Registrant's common stock on
  January 1, 2008, which annual increase is provided for in the 2005 Stock Incentive Plan, as
  amended.
  (3)
  Estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c)
  and 457(h) of the Securities Act of 1933, as amended, and based upon the average of the high
  and low prices of the Registrant's Common Stock as reported on the Nasdaq Capital Market on
  February 6, 2008.
  TABLE OF CONTENTS
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  Item 1.   Plan Information.
  Item 2.   Registrant Information and Employee Plan Annual Information.
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.   Incorporation of Documents by Reference.
  Item 4.   Description of Securities.
  Item 5.   Interests of Named Experts and Counsel.
  Item 6.   Indemnification of Directors and Officers.
  Item 7.   Exemption from Registration Claimed.
  Item 8.   Exhibits.
  Item 9.   Undertakings.
  SIGNATURES
  INDEX TO EXHIBITS
  Ex-5 Opinion of Wilmer Cutler Pickering Hale and Dorr LLP
  Ex-23.2 Consent of PricewaterhouseCoopers LLP
  Table of Contents
  PART I
  INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
  Item 1.   Plan Information.
  The information required by Item 1 is included in documents sent or given to participants in
  the plan covered by this registration statement pursuant to Rule 428(b)(1) of the Securities Act of
  1933, as amended (the "Securities Act").
  Item 2.   Registrant Information and Employee Plan Annual Information.
  The written statement required by Item 2 is included in documents sent or given to
  participants in the plan covered by this registration statement pursuant to Rule 428(b)(1) of the
  Securities Act.
  PART II
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.   Incorporation of Documents by Reference.
  The registrant is subject to the informational and reporting requirements of Sections 13(a),
  14, and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and in
  accordance therewith files reports, proxy statements and other information with the Securities and
  Exchange Commission (the "Commission"). The following documents, which are on file with the
  Commission, are incorporated in this registration statement by reference:
  (a)      The registrant's latest annual report filed pursuant to Section 13(a) or 15(d) of the
  Exchange Act or the latest prospectus filed pursuant to Rule 424(b) under the Securities Act that
  contains audited financial statements for the registrant's latest fiscal year for which such
  statements have been filed.
  (b)      All other reports filed pursuant to Section 13(a) or 15(d) of the Exchange Act since the
  end of the fiscal year covered by the document referred to in (a) above.
  (c)      The description of the securities contained in the registrant's registration statement on
  Form 8-A filed under the Exchange Act, including any amendment or report filed for the purpose of
  updating such description.
  All documents subsequently filed by the registrant pursuant to Sections 13(a), 13(c), 14 and
  15(d) of the Exchange Act, prior to the filing of a post-effective amendment which indicates that
  all securities offered hereby have been sold or which deregisters all securities then remaining
  unsold, shall be deemed to be incorporated by reference in this registration statement and to be
  part hereof from the date of the filing of such documents. Any statement contained in a document
  incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
  superseded for the purposes of this registration statement to the extent that a statement contained
  herein or in any other subsequently filed document which also is or is deemed to be incorporated by
  reference herein modifies or supersedes such statement. Any statement so modified or superseded
  shall not be deemed, except as so modified or superseded, to constitute a part of this registration
  statement.
  Item 4.   Description of Securities.
  Not applicable.
  -1-
  Table of Contents
  Item 5.   Interests of Named Experts and Counsel.
  Wilmer Cutler Pickering Hale and Dorr LLP ("WilmerHale") has opined as to the legality of the
  securities being offered by this registration statement.
  Item 6.   Indemnification of Directors and Officers.
  Subsection (a) of Section 145 of the Delaware General Corporation Law empowers a corporation
  to indemnify any person who was or is threatened to be made a party to any threatened, pending or
  completed action, suit or proceeding, whether civil, criminal, administrative or investigative
  (other than an action by or in the right of the corporation) by reason of the fact that he or she
  is or was a director, officer, employee or agent of the corporation, or is or was serving at the
  request of the corporation as a director, officer, employee or agent of another corporation,
  partnership, joint venture, trust or other enterprise, against expenses (including attorneys'
  fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or
  her in connection with such action, suit or proceeding if he or she acted in good faith and in a
  manner he or she reasonably believed to be in or not opposed to the best interests of the
  corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to
  believe his or her conduct was unlawful.
  Subsection (b) of Section 145 empowers a corporation to indemnify any person who was or is a
  party or is threatened to be made a party to any threatened, pending or completed action or suit by
  or in the right of the corporation to procure a judgment in its favor by reason of the fact that he
  or she is or was a director, officer, employee or agent of the corporation, or is or was serving at
  the request of the corporation as a director, officer, employee or agent of another corporation,
  partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees)
  actually and reasonably incurred by him or her in connection with the defense or settlement of such
  action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be
  in or not opposed to the best interests of the corporation and except that no indemnification shall
  be made in respect of any claim, issue or matter as to which such person shall have been adjudged
  to be liable to the corporation unless and only to the extent that the Court of Chancery or the
  court in which such action or suit was brought shall determine upon application that, despite the
  adjudication of liability but in view of all of the circumstances of the case, such person is
  fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such
  other court shall deem proper.
  Section 145 further provides that to the extent a director or officer of a corporation has
  been successful in the defense of any action, suit or proceeding referred to in subsection (a) and
  (b) or in the defense of any claim, issue or matter therein, he or she shall be indemnified against
  expenses (including attorneys' fees) actually and reasonably incurred by him or her in connection
  therewith; that the indemnification provided by Section 145 shall not be deemed exclusive of any
  other rights to which the indemnified party may be entitled; and that the scope of indemnification
  extends to directors, officers, employees, or agents of a constituent corporation absorbed in a
  consolidation or merger and persons serving in that capacity at the request of the constituent
  corporation for another. Section 145 also empowers a corporation to purchase and maintain insurance
  on behalf of a director or officer of the corporation against any liability asserted against him or
  her or incurred by him or her in any such capacity or arising out of his or her status as such
  whether or not the corporation would have the power to indemnify him or her against such
  liabilities under Section 145.
  Article VI of our By-laws specifies that we shall indemnify our directors, officers, employees
  and agents because he or she was or is a director, officer, employee or agent of ours or was or is
  serving at the request of us as a director, officer, employee or agent of another entity to the
  full extent that such right of indemnity is permitted by the laws of the State of Delaware. This
  provision of the By-laws is deemed
  -2-
  Table of Contents
  to be a contract between us and each director and officer who serves in such capacity at any
  time while such provision and the relevant provisions of the Delaware General Corporation Law are
  in effect, and any repeal or modification thereof shall not offset any action, suit or proceeding
  theretofore or thereafter brought or threatened based in whole or in part upon any such state of
  facts.
  Alseres has executed indemnification agreements with each of its officers and directors
  pursuant to which Alseres has agreed to indemnify such parties to the full extent permitted by law,
  subject to certain exceptions, if such party becomes subject to an action because such party is a
  director, officer, employee, agent or fiduciary of Alseres.
  Section 102 of the Delaware General Corporation Law permits a corporation to eliminate the
  personal liability of directors of a corporation to the corporation or its stockholders for
  monetary damages for a breach of fiduciary duty as a director, except where the director breached
  his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly
  violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of
  Delaware corporate law or obtained an improper personal benefit. This section also will have no
  effect on claims arising under the federal securities laws. We have adopted the provisions of
  Section 102(b)(7) of the Delaware General Corporation Law which eliminate or limit the personal
  liability of a director to us or our stockholders for monetary damages for breach of fiduciary duty
  under certain circumstances.
  In addition, we maintain insurance on behalf of our directors and officers insuring them
  against any liability asserted against them in their capacities as directors or officers or arising
  out of such status.
  Item 7.   Exemption from Registration Claimed.
  Not applicable.
  Item 8.   Exhibits.
  The Exhibit Index immediately preceding the exhibits is incorporated herein by reference.
  Item 9.   Undertakings.
  1.
  Item
  512(a)
  of Regulation S-K
  . The undersigned registrant hereby undertakes:
  (1)      To file, during any period in which offers or sales are being made, a
  post-effective amendment to this registration statement:
  (i)      To include any prospectus required by Section 10(a)(3) of the Securities Act;
  (ii)     To reflect in the prospectus any facts or events arising after the effective date
  of the registration statement (or the most recent post-effective amendment thereof) which,
  individually or in the aggregate, represent a fundamental change in the information set
  forth in the registration statement; and
  (iii)    To include any material information with respect to the plan of distribution not
  previously disclosed in the registration statement or any material change to such
  information in the registration statement;
  -3-
  Table of Contents
  provided, however,
  that paragraphs (i) and (ii) do not apply if the information required to
  be included in a post-effective amendment by those paragraphs is contained in reports filed
  with or furnished to the Commission by the registrant pursuant to Section 13 or Section
  15(d) of the Exchange Act that are incorporated by reference in the registration statement.
  (2)      That, for the purpose of determining any liability under the Securities Act, each
  such post-effective amendment shall be deemed to be a new registration statement relating to
  the securities offered therein, and the offering of such securities at that time shall be
  deemed to be the initial
  bona fide
  offering thereof.
  (3)      To remove from registration by means of a post-effective amendment any of the
  securities being registered which remain unsold at the termination of the offering.
  2.
  Item
  512(b)
  of Regulation S-K
  . The undersigned registrant hereby undertakes that,
  for purposes of determining any liability under the Securities Act, each filing of the registrant's
  annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is incorporated
  by reference in the registration statement shall be deemed to be a new registration statement
  relating to the securities offered therein, and the offering of such securities at that time shall
  be deemed to be the initial
  bona fide
  offering thereof.
  3.
  Item
  512(h)
  of Regulation S-K
  . Insofar as indemnification for liabilities arising
  under the Securities Act may be permitted to directors, officers and controlling persons of the
  registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that
  in the opinion of the Securities and Exchange Commission such indemnification is against public
  policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a
  claim for indemnification against such liabilities (other than the payment by the registrant of
  expenses incurred or paid by a director, officer or controlling person of the registrant in the
  successful defense of any action, suit or proceeding) is asserted by such director, officer or
  controlling person in connection with the securities being registered, the registrant will, unless
  in the opinion of its counsel the matter has been settled by controlling precedent, submit to a
  court of appropriate jurisdiction the question whether such indemnification by it is against public
  policy as expressed in the Securities Act and will be governed by the final adjudication of such
  issue.
  -4-
  Table of Contents
  SIGNATURES
  Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it
  has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
  has duly caused this registration statement to be signed on its behalf by the undersigned,
  thereunto duly authorized, in City of Hopkinton, Commonwealth of
  Massachusetts, on this 7th day of
  February, 2008.
  ALSERES PHARMACEUTICALS, INC.
  By:
  /s/ Peter G. Savas
  Peter G. Savas
  Chief Executive Officer and Chairman
  POWER OF ATTORNEY AND SIGNATURES
  We, the undersigned officers and directors of Alseres Pharmaceuticals, Inc., hereby severally
  constitute and appoint Peter G. Savas and Kenneth L. Rice, and each of them singly, our true and
  lawful attorneys with full power to them, and each of them singly, to sign for us and in our names
  in the capacities indicated below, the registration statement on Form S-8 filed herewith and any
  and all subsequent amendments to said registration statement, and generally to do all such things
  in our names and on our behalf in our capacities as officers and directors to enable Alseres
  Pharmaceuticals, Inc. to comply with the provisions of the Securities Act of 1933, as amended, and
  all requirements of the Securities and Exchange Commission, hereby ratifying and confirming our
  signatures as they may be signed by our said attorneys, or any of them, to said registration
  statement and any and all amendments thereto.
  Pursuant to the requirements of the Securities Act of 1933, this registration statement has
  been signed by the following persons in the capacities and on the dates indicated.
  Signature
  Title
  Date
  /s/ Peter G. Savas
  Peter G. Savas
  Chairman and Chief
  Executive Officer
  (Principal
  Executive Officer)
  February 7, 2008
  /s/ Kenneth L. Rice, Jr.
  Kenneth L. Rice, Jr.
  Executive Vice
  President Finance
  and Administration
  and Chief Financial
  Officer
  (Principal
  Financial and
  Accounting Officer
  February 7, 2008
  /s/ Henry Brem
  Henry Brem
  Director
  February 7, 2008
  /s/ Gary Frashier
  Gary Frashier
  Director
  February 7, 2008
  -5-
  Table of Contents
  /s/ William L.S. Guinness
  William L.S. Guinness
  Director
  February 7, 2008
  /s/ Robert S. Langer, Jr.
  Robert S. Langer, Jr.
  Director
  February 7, 2008
  /s/ Michael J. Mullen
  Michael J. Mullen
  Director
  February 7, 2008
  /s/ John T. Preston
  John T. Preston
  Director
  February 7, 2008
  -6-
  Table of Contents
  INDEX TO EXHIBITS
  Number
  Description
  4.1
  Amended and Restated Certificate of Incorporation,
  dated March 29, 1996, as amended on June 9, 1997.(1)
  4.2
  Certificate of Amendment of Amended and Restated
  Certificate of Incorporation filed on June 28, 1999.(2)
  4.3
  Certificate of Amendment of Amended and Restated
  Certificate of Incorporation filed June 14, 2000;
  Certificate of Correction filed March 14, 2001.(3)
  4.4
  Restated Certificate of Designations, Preferences, and
  Rights of Series D Preferred Stock filed September 13,
  2001 (4); Certificate of Amendment of Amended and
  Restated Certificate of Incorporation filed on June 11,
  2002 (5); Certificate of Amendment of Amended and
  Restated Certificate of Incorporation of the Company,
  dated as of July 9, 2003 (6); Certificate of
  Designations, Rights and Preferences of the Series E
  Cumulative Convertible Preferred Stock of the Company
  (7); Certificate of Amendment of Amended and Restated
  Certificate of Incorporation of the Company, dated as
  of August 5, 2004 (8); Certificate of Amendment of
  Amended and Restated Certificate of Incorporation of
  the Company, dated as of February 4, 2005 (9);
  Amendment No. 1 to Certificate of Designations, Rights
  and Preferences of the Series E Cumulative Convertible
  Preferred Stock of the Company, dated as of February 4,
  2005 (9); Certificate of Amendment of Amended and
  Restated Certificate of Incorporation filed on June 7,
  2007 (10)
  4.5
  Amended and Restated By Laws, effective as of December
  6, 2007 (11)
  5
  Opinion of Wilmer Cutler Pickering Hale and Dorr LLP,
  counsel to the Registrant
  23.1
  Consent of Wilmer Cutler Pickering Hale and Dorr LLP
  (included in Exhibit 5)
  23.2
  Consent of PricewaterhouseCoopers LLP
  24
  Power of attorney (included on the signature pages of
  this registration statement)
  (1)
  Incorporated by reference to the Registrant's Annual Report on Form 10-K for the year ended December 31, 1998
  (2)
  Incorporated by reference to the Registrant's Quarterly Report on Form 10-Q for the quarter ended September 30, 1999
  (3)
  Incorporated by reference to the Registrant's Annual report on Form 10-K for the year ended December 31, 2000
  (4)
  Incorporated by reference to the Registrant's Registration Statement on Form 8-A/A dated September 13, 2001
  (5)
  Incorporated by reference to the Registrant's Proxy Statement in connection with its 2002 Annual Meeting of
  Stockholders
  (6)
  Incorporated by reference to the Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 2003
  (7)
  Incorporated by reference to the Registrant's Report on Form 8-K dated December 9, 2003
  (8)
  Incorporated by reference to the Registrant's Report on Form 10-Q dated August 13, 2004
  (9)
  Incorporated by reference to the Registrant's Report on Form 8-K dated February 7, 2005
  Table of Contents
  (10)
  Incorporated by reference to the Registrant's Report on Form 8-K dated June 8, 2007
  (11)
  Incorporated by reference to the Registrant's Report on Form 8-K dated December 7, 2007