Welichem and Stiefel, a GSK company, complete the acquisition by Stiefel of the novel anti-inflammatory agent, WBI-1001
July 29 2012 - 3:56AM
PR Newswire (Canada)
VANCOUVER, July 31, 2012 /CNW/ - Welichem Biotech Inc. announces
that Welichem and Stiefel, a GSK company, have completed the
acquisition by Stiefel of the exclusive development and
commercialization rights to the novel anti-inflammatory agent,
WBI-1001, pursuant to the previously announced asset purchase
agreement. The shareholders of Welichem approved the
agreement with Stiefel at a special meeting of the Company held on
July 5, 2012. About Welichem Biotech Inc. Welichem Biotech Inc. is
a publicly-traded biotechnology company developing therapeutic
drugs in the fields of autoimmune diseases and cancers. For a
more complete business and financial profile of the Company,
interested parties are encouraged to visit the Company's website,
www.welichem.com. The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of the
content of this news release. This press release contains
forward-looking statements that include our belief as to the
potential of our products. Certain risks and uncertainties such as
our ability to successfully commercialize the products could cause
the Company's actual results to differ materially from those in the
forward-looking statements. Welichem Biotech Inc. CONTACT: Liren
Tang, President and Chief Executive Officer. Tel.: (604)432-1703,
Email: lirentang@welichem.com
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