Wex Pharmaceuticals Inc. Announces Update on Interim Analysis; Data Monitoring Committe Says TEC-006 Clinical Trial Unlikely to Demonstrate a Clinically Meaningful Treatment-Effect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - September 27, 2010) - WEX Pharmaceuticals Inc. (“WEX” or the “Company”) (TSX: WXI) announced today that the data monitoring committee (“DMC”) has undertaken its scheduled interim analysis of the Company’s ongoing TEC-006 clinical trial of Tetrodotoxin (TTX). Based on a review of the safety and efficacy assessments for 60 evaluable patients, the DMC has verbally informed the Company that it saw no safety concerns to stop or modify the trial and that the trial was unlikely to demonstrate a clinically meaningful treatment-effect difference between TTX and placebo based on the primary composite efficacy endpoint. However, the DMC advised that with an increase in sample size to 150 evaluable patients, the trial may demonstrate a difference in efficacy based on one or more components of the composite endpoint. The trial was originally planned to enroll 120 evaluable patients.

The DMC is a group of three independent experts appointed by the Company to review data from the clinical trial and make a recommendation to the Company on continuing the trial as planned in the protocol, expanding the trial to enroll additional patients, or terminating the trial for either safety or efficacy reasons. To conduct this analysis, the DMC has been given access to the interim results of the trial. The Company, Trial Steering Committee and Trial Investigators remain blinded to the data until the close of the trial.

WEX plans to discuss the primary and secondary efficacy endpoints and expanding the trial with Health Canada in October. In the meantime, the trial will continue to enroll patients until a decision is taken on how to modify the trial following the meeting with Health Canada.

About the TEC-006 Clinical Trial

TEC-006 is a Phase III multicentre, randomized, double-blind and placebo-controlled trial comparing the efficacy and safety of TTX to placebo in patients with moderate to severe inadequately controlled cancer-related pain. Enrolment and dosing of the first patient in the TEC-006 trial occurred in April 2008. All patients participating in the TEC-006 trial, both those receiving drug and those receiving placebo, are given the opportunity to participate in an open-label clinical trial (TEC-006OL) where all patients receive TTX.

About TTX

Tetrodotoxin (TTX) is a highly selective sodium channel blocker derived from the puffer fish. Sodium channels are found on nerves and are involved in the transmission of nerve impulses. Tetrodotoxin targets a subset of sodium channels found on nerves which conduct pain impulses. There are changes to this subset of sodium channels in chronic pain conditions. Tetrodotoxin is extremely potent, and much lower dosages are needed to produce an analgesic effect than with other drugs.

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.

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