WEX Pharmaceuticals Inc.
TSX : WXI

WEX Pharmaceuticals Inc.

August 29, 2007 19:48 ET

WEX Pharmaceuticals Inc.: Default Status Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2007) - WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) advises that there has been no material change in the information contained in its Notice of Default dated August 17, 2007.

In compliance with regulatory requirements, WEX is disseminating and filing on SEDAR the attached Default Status Report.

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.

DEFAULT STATUS REPORT

1. WEX Pharmaceuticals Inc. ("WEX") advises that there has been no material change in the information contained in its Notice of Default dated August 17, 2007.

2. WEX expects to file its interim financial statements for its first fiscal quarter ended June 30, 2007 by October 14, 2007 as contemplated in the Notice of Default.

3. There is no other material information concerning the affairs of WEX that has not been generally disclosed as of the date hereof.

Dated the 29th day of August, 2007.

WEX PHARMACEUTICALS INC.

Edge Wang, Authorized Signatory

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