Stiefel acquires WBI anti-inflammatory agent development, commercialization rights

The acquisition follows the previously announced asset purchase agreement.

WBI-1001 is a non-steroidal, topical anti-inflammatory new chemical entity (NCE) agent, which has demonstrated efficacy and safety in Ph1 and Ph2 clinical trials to treat mild to moderate psoriasis and moderate to severe atopic dermatitis (AD) for up to 12 weeks as a single therapy.

Welichem shareholders have approved the agreement with Stiefel in a special meeting of the Company held on 5 July 2012.

Welichem Biotech is a biotechnology company, which develops therapeutic drugs in the field of autoimmune diseases and cancer.