NEWS Release

SPECIAL MEETING OF SHAREHOLDERS

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

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Vancouver, BC (December 9, 2005) – WEX Pharmaceuticals Inc. ("WEX" or "the Company") announces that it has received two separate requisitions from different shareholders, each seeking to convene a special meeting of shareholders.

One requisition, received from Ms. Margaret Chow, seeks approval for resolutions to remove all of the existing directors of the Company, to fix the size of the Board at six and to elect six of Ms. Chow’s, as yet unidentified nominees, as directors.

The other requisition, received from Mr. A.J. Miller, seeks approval for resolutions to remove Ms. Donna Shum, Mr. Frank Shum and Mr. Kenneth Li as directors and to elect Mr. Miller as a director. Mr. Miller’s requisition also asks shareholders to vote on a resolution to create a royalty trust, as a defensive takeover mechanism.

Although there have been discussions among the Company and the respective shareholders to explore the possibilities of an agreed resolution to the restructuring of the Board, no agreement has yet been reached. Although such discussions may continue, in the circumstances, the Board has determined to call a special meeting of shareholders for 10:00 a.m. (Pacific Time) on Thursday, January 26, 2006 to enable shareholders to consider the two proposals for restructuring the Board.

Since receiving the requisitions, Dr. Howard Cohen, currently chair of the Company’s scientific advisory board, has joined the Board of Directors. Dr. Cohen, M.D. is Director of Dallas Mind/Body Medicine. He is certified by the American Board of Psychiatry and Neurology in Psychiatry (1991), Geriatric Psychiatry (1992), Addiction Psychiatry (1993) and Pain Medicine (2001). Dr. Cohen lectures at the University of Texas Southwestern Medical School and the University of Texas-Arlington Graduate School of Nursing in pain medicine and psychiatry. He has also published in the fields of pain medicine and addiction and has consulted for many major pharmaceutical companies and for NASA research projects.

Dr. Cohen replaces Dr. Gold, who has stepped down as a director, and will continue to serve the Company as a member of the scientific advisory board. "I continue to have great faith in the project and in Tetrodotoxin" said Dr. Phil Gold. "I feel it may be of great help to many of our patients suffering from both acute and, perhaps more importantly, chronic pain". The Company thanks Dr. Gold for his contribution as a director of the Company.

The Company will be recommending in the information circular to be mailed to the Company’s shareholders in connection with the special meeting, that shareholders vote in favour of Mr. Miller’s proposal regarding the changes to the Board and against Ms. Chow’s proposal. The Board is continuing to review Mr. Miller’s proposal regarding the creation of a royalty trust.

About WEX Pharmaceuticals Inc.

WEX Pharmaceuticals Inc. is dedicated to the discovery, development, manufacture and commercialization of innovative drug products to treat moderate to severe acute and chronic pain, symptom pain relief associated with addiction withdrawal from opioid abuse and medicines designed for local anaesthesia. 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

This News Release contains forward-looking statements which may not be based on historical fact, including without limitation statements. 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.

For additional information on our products, visit us at www.wexpharma.com or call Don Evans, V.P. Corporate Communications at 604-683-8880 or 1-800-722-7549.

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