NEWS Release

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

WEX Pharmaceuticals Inc. Announces Rights Offering to Shareholders

Date: December 11, 2009

Toronto Stock Exchange Trading Symbol: WXI
http://www.wexpharma.com
E-mail: wex@wexpharma.com

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Vancouver, BC (December 11, 2009) – WEX Pharmaceuticals Inc. (TSX: WXI) (“WEX” or the “Company”) today announced that it has filed a final short form prospectus in connection with a distribution to its shareholders of rights (“Rights”) exercisable to acquire restricted voting shares of the Company (the “Rights Offering”).

Under the Rights Offering, holders of restricted voting shares of the Company as of the record date of December 23, 2009 will receive one Right for each restricted voting share held as of the record date. Each one Right will entitle the holder thereof to purchase 1.5 restricted voting shares of the Company (the “Basic Subscription Right”). The subscription price per restricted voting share will be $0.13. The Rights will expire at 4:00 p.m. (Vancouver time) January 22, 2010 (the “Expiry Date”).

Holders of the Rights who fully exercise their Rights under the Basic Subscription Right will be entitled to subscribe pro rata for additional restricted voting shares (the “Additional Subscription Privilege”), if available, that were not subscribed for initially on or before the Expiry Date.

The Rights and the restricted voting shares issuable upon the exercise of the Rights will be listed on the Toronto Stock Exchange (“TSX”), subject to WEX fulfilling all listing requirements of the TSX. The Rights will be listed on the TSX under the symbol WXI.RT. Trading in the Rights will commence on December 21, 2009 and cease at noon (Toronto time) on the Expiry Date.

If all of the Rights are exercised, it is anticipated that the Company will issue an aggregate of 265,483,177 restricted voting shares, for gross proceeds of approximately $34.5 million. The Company expects to use the net proceeds from the Rights Offering to fund research and development activities and for general working capital purposes.

Further details regarding the Rights Offering and the procedures to be followed by holders of Rights can be found in the final prospectus available on SEDAR at www.sedar.com under the Company’s profile.

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.

Forward Looking Statements and Information

Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are subject to such risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. See our annual information form and our quarterly and annual management’s discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statements and information. There can be no assurance that forward-looking statements or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made herein, are qualified by this cautionary statement.

FOR FURTHER INFORMATION PLEASE CONTACT:

WEX Pharmaceuticals Inc.

Dr. Bin Huang

President & CEO

(604) 683-8880 or Toll Free: 1-800-722-7549

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