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Inex Pharmaceuticals Announces Court of Appeal Win

VANCOUVER, February 06, 2007 /PRNewswire-FirstCall/ - Inex Pharmaceuticals Corporation announced that at today's hearing in the British Columbia Court of Appeal ("Court"), the Court dismissed the appeal brought forward by Protiva Biotherapeutics, Inc. ("Protiva"). Protiva was appealing a Supreme Court of British Columbia ruling that approved the INEX Plan of Arrangement to transfer all of INEX's transferable assets and liabilities to a spin-out company, Tekmira Pharmaceuticals Corporation ("Tekmira"). INEX will now work to close the spin-out of Tekmira as previously announced.

About INEX

INEX is a Canadian biopharmaceutical company developing and commercializing proprietary drugs and drug delivery systems to improve the treatment of cancer and other diseases. Further information about INEX can be found at www.inexpharm.com.

Forward Looking Statements

There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimate," "continue," "anticipates," "intends," "expects," and similar expressions. 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. Such factors include, among others, INEX's stage of development, lack of product revenues, additional capital requirements, risks associated with the completion of clinical trials and obtaining regulatory approval to market INEX's products, the ability to protect its intellectual property and dependence on collaborative partners. 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.

CONTACT: Investors: Ian Mortimer, Vice President, Finance and Chief Financial Officer, Phone: (604) 419-3200, Email: , Website: www.inexpharm.com; Media: Karen Cook Boas, James Hoggan & Associates Inc., Phone: (604) 739-7500, Email: imortimer@inexpharm.com kcook@hoggan.com

CONTACT: Investors: Ian Mortimer, Vice President, Finance and ChiefFinancial Officer, Phone: (604) 419-3200, Email: ,Website: www.inexpharm.com; Media: Karen Cook Boas, James Hoggan &Associates Inc., Phone: (604) 739-7500, Email: imortimer@inexpharm.com kcook@hoggan.com

Ticker Symbol: (Toronto:IEX.)

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Posted: February 2007


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