Akela announces agreement with Tekes for a payment schedule on grant repayments



    
    www.akelapharma.com
    Toronto Stock Exchange Symbol: AKL
    

    MONTREAL, June 30 /CNW Telbec/ - Akela Pharma Inc. (TSX: AKL) today
announced that it has reached an agreement with Tekes, the Finnish Funding
Agency for Technology and Innovation, to settle a demand for repayment of
certain grants totalling (euro)956,000 plus interest. According to the terms
of the agreement, Akela will pay back the grants received plus interest, in
equal quarterly instalments during a period of four years, starting in
September 2010 with the last payment to occur in September 2014. As a result
of this settlement, the Company's $1,544,000 provision for probable losses
associated with Tekes' claim during the first quarter of 2009 has been
reclassified as longterm debt.

    About Akela Pharma Inc.:

    Akela Pharma is a drug development company with its lead product,
Fentanyl TAIFUN(R), being developed for the treatment of breakthrough cancer
pain. Fentanyl TAIFUN(R) is a fast-acting fentanyl formulation delivered using
the Company's TAIFUN(R) multi-dose dry powder inhaler platform. Akela's
pipeline also includes a growth hormone releasing hormone (GHRH), which is
being developed for frailty and wasting in chronic renal disease. The product
is also suitable for other chronic diseases involving a catabolic state and
wasting. PharmaForm, Akela's wholly owned subsidiary, is a leading specialty
contract service provider in the area of hot melt extrusion, and also offers a
portfolio of other innovative technologies in drug product development,
manufacturing and analytical testing to the pharmaceutical and biotechnology
industries. Through its diverse offerings, PharmaForm solutions help clients
reach their development targets, reduce development costs and accelerate
time-to-market.
    Akela's common shares trade on The Toronto Stock Exchange ("TSX") under
the symbol "AKL" with 30.9 million shares outstanding.

    This news release contains certain forward-looking statements that
reflect the current views and/or expectations of Akela Pharma Inc. with
respect to performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions. Actual results
and events may vary significantly.
    %SEDAR: 00003466E




For further information:

For further information: Dr. Taneli Jouhikainen, Acting CEO of Akela,
(512) 834-0449, ext. 275

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Akela Pharma Inc

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