WEX Pharmaceuticals Inc. Files a Patent Application for its Manufacturing Process to Synthesize a Key Intermediate of Tetrodotoxin
VANCOUVER, BC – WEX Pharmaceuticals Inc. (“WEX” or the “Company”), a biotechnology company developing Halneuron® (Tetrodotoxin for Injection) for pain treatment, announced that it has filed a patent application for its process of synthesizing a key intermediate in the manufacturing of Tetrodotoxin (TTX).
WEX’s proprietary process provides the advantages of increased yields, better control of isomerization, and improved reproducibility. The ability to control the reaction course also offers the ability for further development of synthetic TTX derivatives. The Company has completed the route selection and process verification of TTX synthesis at the laboratory scale. The Company will optimize additional manufacturing processes and initiate GMP production of synthetic TTX.
Tetrodotoxin, a potent sodium channel blocker, has been traditionally sourced from wild marine pufferfish through extraction methods and has been used in multiple clinical trials. The development of a totally synthetic means of producing TTX represents a significant advancement in the Company’s technology.
“WEX has taken an important step to achieve the sustainable production of synthetic TTX,” said Mr. Walter Korz, Chief Executive Officer. “Our novel manufacturing process will create the opportunity for us to secure pharmaceutical grade TTX for clinical research to address the unmet need for non-opioid pain management.”
About Halneuron®
Halneuron® (Tetrodotoxin for Injection), a selective sodium channel blocker, produces analgesia by decreasing the propagation of action potentials by sodium channels and/or blocking ectopic discharges associated with chronic pain. Halneuron® is an injectable formulation of Tetrodotoxin, a small molecule with action exclusively on the peripheral nervous system. Halneuron does not cross the blood-brain barrier and, therefore, is without the common side effects of euphoria, addiction, tolerance, sedation, and confusion experienced by opioids and other analgesics. Pharmacology studies revealed that TTX is a more potent analgesic than standard analgesic agents such as aspirin, morphine, or meperidine, with potential applications in many moderate to severe neuropathic pain conditions.
About WEX Pharmaceuticals Inc.
WEX Pharmaceuticals Inc. is a late-stage drug development company dedicated to the development, manufacture, and commercialization of innovative drug products to treat pain. WEX is a leader in research in the field of sodium channel blockers and has programs in various stages of development based on the Halneuron® platform. WEX has conducted late-stage multinational clinical trials in cancer pain and chemotherapy-induced neuropathic pain.
WEX is a wholly owned subsidiary of CK Life Sciences Int’l., (Holdings) Inc. (“CKLS”). CKLS is engaged in the business of research and development, manufacturing, commercialization, marketing, sale of, and investment in products and assets which fall into three core categories – nutraceuticals, pharmaceuticals & diagnostics, and agriculture-related. CKLS is a member of the CK Hutchison Group. For additional information, please visit www.ck-lifesciences.com.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities laws (collectively “forward-looking statements”), including statements regarding the safety and therapeutic utility of Halneuron® as a peripheral-acting, non-opioid analgesic. Statements in this document regarding future expectations, beliefs, goals, plans, or prospects constitute forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. For this purpose, any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “projects”, “reduces,” “affirms”, “acceptable”, “accepts”, “establishes”, “continued advancement”, and similar expressions are intended to identify forward-looking statements. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances, or events to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to: those associated with the success of research and development programs, the Company’s ability to raise additional funding and the potential dilutive effects thereof, the regulatory approval process, competition, securing and maintaining corporate alliances, market acceptance of the Company’s products, the availability of government and insurance reimbursements for the Company’s products, the strength of intellectual property, reliance on subcontractors and key personnel and other risks detailed from time-totime in the Company’s public disclosure documents and other filings with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities.
Forward-looking statements are developed based on assumptions about such risks, uncertainties and other factors, including, but not limited to: obtaining positive results of clinical trials, obtaining regulatory approvals, TTX is a more potent analgesic than standard analgesics, safety of product, effectiveness of drug, general business and economic conditions, the Company’s ability to manufacture totally synthetic TTX that is equivalent to its extracted TTX, the Company’s ability to develop and commercialize new products, the assumption that the Company’s current good relationships with third parties will be maintained, the availability of financing on reasonable terms, the Company’s ability to attract and retain skilled staff, market competition, the products and technology offered by the Company’s competitors, no known competing drugs specifically for Chemotherapy Induced Neuropathic Pain (CINP), and the Company’s ability to protect patents and proprietary rights. Forward-looking statements are made as of the date hereof, and the Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward looking statements, whether as a result of new information, future events, or otherwise.
For further information contact:
Mr. Walter Korz
Chief Executive Officer
(604) 683-8880
Fax: (604) 683-8868
wex@wexpharma.com
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