WEX Receives EUR 2,000,000 From Co-Development Partner

WEX Pharmaceuticals is pleased to announce that it has received a EUR 2,000,000 payment from its co-development partner, Laboratorios del Dr. Esteve S.A. This payment represents ESTEVE's commitment to the recently completed Canadian Phase IIa clinical study of Tectin. WEX currently has an ongoing Canadian Phase IIb/III clinical study being conducted at 24 leading pain centres. WEX licensed the European rights to its Tetrodotoxin products to ESTEVE in November 2002 for a commitment of CDN$62,000,000. This agreement was expanded last month to include certain global co-development work.

Yahoo News (http://biz.yahoo.com/ccn/050407/aa2796ab5fbea8149e2ccd582be312e4.html?.v=1)