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Welichem Biotech Inc. (WBI.V) Announces Appointment of President & CEO



6/30/2008 7:08:58 AM

BURNABY, BC, June 27 /CNW/ - Welichem Biotech Inc. (the "Company") (TSX-V: WBI - News) today announces the appointment of Dr. Genhui Chen as President & CEO of the Company, effective immediately. A long time director and one of the founders of the Company, he will guide Welichem through the next crucial stage of development as it realizes the potential value of its drug candidates in clinical trials.

Dr. John Webster, Interim Chairman of the Company, stated that "He was very pleased that Dr. Chen had agreed to take up the key leadership role at Welichem at this time. He has a deep understanding of both the business and scientific components of the Company and related international experience in the biotech industry. His commitment and insight will be invaluable."

York Yingping Guo resigned as President & CEO for personal and family reasons. Dr. Webster opined that "Welichem Biotech has been very fortunate to have had York as its President and CEO. The Company has achieved significant milestones during his tenure and I am very grateful for the great contribution he has made to the Company."

About Welichem Biotech Inc.

Welichem Biotech Inc. is a publicly-traded biotechnology company developing therapeutic drugs in the fields of autoimmune and inflammatory diseases and cancer.

ON BEHALF OF THE BOARD John M. Webster Interim Chairman of Board of Directors

For further information

John M. Webster, Tel.: (604) 432-1703, Email: info@welichem.com Yan Chen, Business Development Manager, Tel.: (604) 432-1703, Email: investors@welichem.com

Source: Welichem Biotech Inc.


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