WEX Pharmaceuticals Inc.
TSX : WXI

WEX Pharmaceuticals Inc.

November 20, 2007 20:52 ET

WEX Pharmaceuticals Inc.: Senior Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2007) - WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) is pleased to announce the appointment of Dr. Bin Huang as President and Chief Executive Officer effective November 20, 2007.

Dr. Huang's previous experience includes 2 years as CEO of GeneHarbour Technologies (Hong Kong) and 5 years as President and CEO of Cytovax Biotechnologies Inc. in Canada. Additionally, she served as Vice President of Business Development at Monsanto Canada, and was a top-ranked biotech analyst in Canada while she was a partner at GMP Securities. Dr. Huang received her PhD in cell biology from the University of East Anglia, UK, and her MBA from the University of Toronto.

Mr. Alan Yu, Chairman of Wex's board of directors, said: "We are delighted to welcome Dr. Huang and are fortunate to have been able to attract an extremely well qualified candidate to lead the Company at this critical juncture."

The Board would also like to acknowledge the contribution of Dr. Edge Wang who joined the Company shortly before disappointing clinical results from its previous clinical trials program forced a fundamental re-evaluation of its strategies. He implemented a significant downsizing of the Company in light of severely reduced capital resources and under his leadership a new Phase III clinical trial program was developed and accepted by Health Canada. He leaves the Company following its successful refinancing as a result of the CKLS transaction. Dr. Wang will remain with the Company to assist his successor until early in the New Year.

Dr. Huang said: "With the support of strong shareholders and an experienced management team, WEX is poised to achieve its goals towards product registration. I look forward to leading the Company through its next phase of growth."

WEX also announces that it has commenced a search for a new Chief Financial Officer. On October 18, 2007, following the closing of the previously announced financing transaction with CKLS, WEX appointed Mr. Michael Lam C.A., senior partner of Lam Lo Nishio, Chartered Accountants to act as CFO on a part-time basis. With the completion and filing of the Company's Q2 financial statements Mr. Lam will step down and has agreed to assist in the search for his successor. He will continue to support the Company in the transitional period.

About WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc. is dedicated to the discovery, development, manufacture and commercialization of innovative drug products to treat pain. The Company's principal business strategy is to derive drugs from naturally occurring toxins and develop proprietary products for the global market. The Company's Chinese subsidiary sells generic products manufactured at its facility in China.

Forward Looking Statements and Information

This News Release contains forward-looking statements which may not be based on historical fact. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

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