WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc.

January 04, 2005 09:00 ET

Wex Completes Tetrodin'TM' Trial Enrollment


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: WEX PHARMACEUTICALS INC.

TSX SYMBOL: WXI

JANUARY 4, 2005 - 09:00 ET

Wex Completes Tetrodin'TM' Trial Enrollment

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 4, 2005) - Wex
Phamaceuticals Inc. (TSX:WXI) is pleased to announce that it has
successfully completed the enrollment and dosing of patients during the
month December for the ongoing phase IIa opioid dependence study with
Tetrodin™ (Wex's proprietary formulation of Tetrodotoxin-TTX). This
randomized, double-blind, placebo-controlled study evaluates the safety
and efficacy of Tetrodin in decreasing the severity of withdrawal
symptoms in opiate-dependent subjects who are receiving methadone.

Opioid dependence is characterized by a withdrawal syndrome that occurs
when opioid agonists are abruptly discontinued or their activity is
antagonized. Managing withdrawal is a critical step in initiating into
treatment many patients who are opioid dependent. Traditional medical
management of opioid withdrawal involves the substitution of a
long-acting opioid for shorter-acting opioids and gradual tapering.

Results of the Tetrodin™ study are expected to be released in the
spring of 2005.

About WEX Pharmaceuticals Inc.

Wex Pharmaceuticals Inc. is a pharmaceutical company dedicated to the
discovery of new therapeutic agents for the treatment of moderate to
severe pain, symptom relief associated with addiction withdrawal from
opioid abuse, and medicines designed for local and regional anaesthesia.
The Company's principle business strategy is to derive drugs from
naturally occurring toxins and develop proprietary products for North
American, European and International markets. The Company also generates
revenues from sales of generic products manufactured at its facility in
China.

Forward Looking Statement Disclaimer

Statements in this news release are forward-looking statements which may
not be based on historical fact, including without limitation statements
containing the words "believe", "may", "plan", "will", "estimate",
"anticipates", "intends", "expects" and similar expressions. 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. Such factors include, among others, WEX's
stage of development, product revenues which are difficult to predict,
foreign currency exchange risk, additional capital requirements, risks
associated with the completion of clinical trials, the ability to
protect its intellectual property and dependence on collaborative
partners. 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.

For additional information on our products, visit us at
www.wexpharma.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Wex Pharmaceuticals Inc.
    Don Evans or Gordon Stanley
    Corporate Communications
    (604) 683-8880 or 1-800-722-7549
    (604) 683-8868 (FAX)
    E-mail: wex@wexpharma.com
    http://www.wexpharma.com