WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc.

June 13, 2007 08:00 ET

WEX Receives No Objection Letter From Health Canada for Phase III Clinical Trial in Cancer Pain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2007) - WEX Pharmaceuticals Inc. ("WEX" or the "Company") (TSX:WXI) is pleased to announce that the Company has received a No Objection Letter from Health Canada for conducting a Phase III clinical trial in cancer pain for its lead product, Tectin™.

This multi-centre, randomized, double-blind, and placebo-controlled trial (TEC-006) will include approximately 120 patients with moderate to severe cancer-related pain. The study design is based on the Company's knowledge and experience obtained from the WEX-014 trial. A primary composite endpoint that evaluates pain reduction with an improvement in quality of life will be used to define true responder to treatment.

The Company believes that the TEC-006 trial has a high probability of meeting its endpoint. The composite endpoint is based on the Company's reanalysis of the WEX-014 trial, which was terminated early when it became apparent that the trial would not meet its objective when based solely on pain reduction. The reanalysis showed that an endpoint that combines pain reduction with an improvement in quality of life would have produced a statistically significant and clinically meaningful result. It is well understood that a primary composite endpoint is commonly used in chronic pain trial, as pain assessment is subjective.

"The approval for conducting a Phase III study is a significant step in WEX's clinical development," said Dr. Anh Ho Ngoc, the Company's Vice President of Scientific & Regulatory Affairs, "We anticipate that, if successful, the TEC-006 trial, together with its previous clinical and non-clinical studies will be sufficient for filing a New Drug Submission in Canada.

"This is a major milestone for the Company's drug development. WEX's clinical team led by Dr. Anh Ho has done a tremendous job in developing the clinical plan under limited resources." said Dr. Edge Wang, President & CEO of the Company, "We are now working on a financing plan to raise additional fund to support this Phase III clinical trial. In the meantime, the Company is actively searching for strategic partners worldwide to share the cost of late stage drug development and later on to commercialize the product. "

The Company has commenced pre-trial activities with patient recruitment to begin in the near future.

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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