Inex bankruptcy petition dismissal upheld by appeals court

By Caroline Salls

Pittsburgh, March 7 - Inex Pharmaceuticals Corp. said the Appeal Court of British Columbia upheld the British Columbia Supreme Court's decision to dismiss a bankruptcy petition brought forward by Stark Trading and Shepherd Investments International Ltd., according to a company news release.

The original bankruptcy petition was filed on Sept. 27 and dismissed on Oct. 27.

"We believe the bankruptcy petition had no merit and we are pleased with the appeals court decision," president and chief executive officer Timothy M. Ruane said in the release.

"Our internal focus remains working toward the completion of the Tekmira spin-out and advancing our targeted chemotherapy products through partnering."

Inex is a Vancouver, B.C., biopharmaceutical company developing and commercializing proprietary drugs and drug delivery systems to improve the treatment of cancer.

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