VANCOUVER, July 5, 2012 /CNW/ - Welichem Biotech Inc. ("Welichem" or the
"Company" TSX.V: WBI) announces that Welichem shareholders at a special
meeting of the Company held today have approved the previously
announced agreement with Stiefel, a GSK company for the acquisition by
Stiefel of exclusive development and commercialization rights to the
novel anti-inflammatory agent, WBI-1001. The transaction remains
subject to final approval of the TSX Venture Exchange and is expected
to close by the end of July.
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
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.
For further information:
Liren Tang, President and Chief Executive Officer. Tel.: (604) 432-1703, Email: firstname.lastname@example.org