WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc.

September 20, 2007 01:27 ET

WEX Pharmaceuticals Inc.: Closing of Transaction With CKLS Deferred

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) announced today that the closing of the proposed transaction with CK Life Sciences Int'l. Inc. ("CKLS") has been deferred. The transaction was approved by shareholders at the Company's annual and special general meeting (the "Meeting") held on September 17, 2007 in Vancouver.

The closing of the CKLS transaction remains subject to certain terms and conditions as described in the information circular for the Meeting. The Company is working with CKLS to achieve resolution of the outstanding issues and is also in discussions with CKLS to obtain a small increase in the bridge loan they extended to WEX in July 2007. Any increase in the loan will require progress on addressing the remaining transaction conditions; there can be no assurance that CKLS will provide additional funding.

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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