Under the Termination Agreement, WEX gains exclusive worldwide rights to all its intellectual property predating the collaboration as well as intellectual property developed by the parties during their collaboration.
"We are pleased to have concluded the Termination Agreement. WEX now has an exclusive intellectual property position in Tetrodotoxin, which will enable us to enter into partnership agreements with other parties," said Dr. Edge Wang, President and CEO of WEX.
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.
CONTACT INFORMATION WEX Pharmaceuticals Inc. Dr. Edge Wang President & CEO (604) 683-8880 or 1-800-722-7549 Fax: (604) 683-8868 Email: wex@wexpharma.com Website: www.wexpharma.com
