Welichem and Stiefel, a GSK company, complete the acquisition by Stiefel of the novel anti-inflammatory agent, WBI-1001
July 31 2012 - 2:56PM
PR Newswire (US)
VANCOUVER,
July 31, 2012 /CNW/ - Welichem
Biotech Inc. ("Welichem" or the "Company" TSX.V: WBI) 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.
SOURCE Welichem Biotech Inc.
Copyright 2012 Canada NewsWire
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