NEWS Release

International Wex Technologies' Tectin™ Study Results Show Efficacy in Pain Management

Phase IIa final results announced at International Scientific Meeting

Date: May 7, 2004

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

International Wex Technologies (TSX: WXI) today released the final results of its Phase IIa study of tetrodotoxin (Tectin™), an investigational treatment for the management of severe cancer-related pain, at the 2ndJoint Scientific Meeting of the American Pain Society and the Canadian Pain Society being held in Vancouver, BC May 6 - 9, 2004.

The Phase IIa results demonstrate that Tectin™, administered intramuscularly for four days at the studied doses, is well tolerated and can relieve refractory cancer pain for up to two weeks in some patients. Consistent with the interim analysis, the final results show that almost three-quarters (72 per cent) of cancer pain patients experienced a clinically meaningful analgesic response.

The study was conducted in seven centers involving six Canadian cities: Saskatoon, Edmonton, Calgary, London, Montreal, and Toronto.

"We are definitely encouraged by the Phase IIa results," said Dr. Neil Hagen, Lead Investigator of the study. "In light of the safety profile of tetrodotoxin within this study, and the unsatisfactory pain management options available for patients with refractory cancer pain, further study of tetrodotoxin in a large multicenter controlled trial is warranted. We believe that the current Phase IIb/III study will be one of the largest and most important Canadian clinical trials conducted to date to evaluate the efficacy and safety of a drug for medically refractory cancer pain."

This pivotal trial of Tectin™ is a randomized, double-blind and placebo-controlled study comparing the efficacy and safety of Tectin™ versus placebo in patients with moderate to severe inadequately controlled cancer pain. The trial is currently ongoing in up to 25 treatment centers across Canada with a target completion in the next 12 months. There is an Interim analysis expected once 50% of the patients have completed the study.

The study is being led by two nationally respected leaders in cancer pain assessment and management, Dr. Neil Hagen, Head of the Division of Palliative Medicine, Department of Oncology at the University of Calgary and Dr. Bernard Lapointe, Chief of the Palliative Care Division of the Jewish General Hospital in Montreal, and Associate Professor in the Department of Oncology and the Department of Family Medicine at McGill University.

"We are pleased with the promising results from the Tectin™ trials thus far and this reinforces the corporate direction to continue our research in this area." said Donna Shum , Chief Operating Officer of International Wex Technologies Inc. "We believe the work with blowfish toxins will contribute to the benefit of improving the quality of life to patients whose pain is not adequately controlled by currently available therapies."

Tectin™, which is derived from the puffer fish - also known as blow fish or Fugu - was developed to block slow sodium channel nociceptive pain fibers in a highly selective manner. The product exhibits potent analgesic properties in animal studies and is currently under clinical investigation in pain management.

International Wex Technologies Inc., a publicly listed neuro-bioscience company (WXI), is focused on the development and commercialization of innovative drug products, primarily for pain management. The Company's lead compound, Tetrodotoxin, is a sodium channel blocker and is the platform for the Company's development of a portfolio of proprietary products in the field of analgesia, drug addiction withdrawal treatment, and local anaesthesia.

For additional information on our products visit us at http://www.wextech.ca or call Don Evans or Gordon Stanley, Corporate Communications at 604-683-8880, or at 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.