News Release

Inex Pharmaceuticals to Present at the UBS Life Sciences Conference


For immediate release: September 21, 2004

VANCOUVER – Inex Pharmaceuticals Corporation (“INEX”; TSX: IEX) announced today that it will present at the UBS Life Sciences Conference at The Grand Hyatt Hotel in New York, New York on Tuesday, September 28, 2004 at 1:30 pm EST. 

David Main, INEX’s President and CEO, will give a presentation providing an update on the Company. The presentation will be webcast and can be accessed through the INEX website at www.inexpharm.com for up to 30 days after the presentation.

About INEX
INEX is a Canadian biopharmaceutical company developing and commercializing proprietary drugs and drug delivery systems to improve the treatment of cancer.

INEX’s lead product is Marqibo™ (formerly referred to as Onco TCS), a proprietary drug comprised of the widely used off-patent anticancer drug vincristine encapsulated in INEX’s liposomal drug delivery technology. INEX is commercializing Marqibo™ in North America with partner Enzon Pharmaceuticals Inc. A New Drug Application (NDA) for Marqibo™ has been accepted by the FDA with a target date of January 15, 2005 for completion of the review. The NDA is seeking marketing approval for Marqibo™ as a single-agent treatment for patients with relapsed aggressive non-Hodgkin’s lymphoma (NHL) previously treated with at least two combination chemotherapy regimens.

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.

INEX investor contact:
Ian Mortimer
Senior Director, Investor Relations
Inex Pharmaceuticals Corporation
Tel: 604.419.3200
Email: info@inexpharm.com
Website: www.inexpharm.com

INEX media contact:
Miriam Zitner
James Hoggan & Associates Inc.
Tel: 604.739.7500
Email: mzitner@hoggan.com

INEX’s common shares are traded on the Toronto Stock Exchange under the trading symbol “IEX”.