Toronto Stock Exchange Symbol: AKL
MONTREAL, Jan. 13 /CNW Telbec/ - Akela Pharma Inc. (TSX: "AKL"), a drug
development company focused on developing therapies for the inhalation and
pain markets, today announced that it has achieved the 3rd milestone in a
series of three Fentanyl TAIFUN(R) Phase 3 study related milestones to be paid
by Janssen Pharmaceutica NV.
The milestone payment of Euro 2.5 million was triggered by enrolling the
7th patient in the multinational Fentanyl TAIFUN(R) Phase 3 program in late
December 2008. Enrollment is ongoing in a number of European study centers and
further sites will be initiated during this quarter in both Europe and India.
Janssen Pharmaceutica NV is the licensee for the product in Europe,
Canada, Middle East and Africa.
About Akela Pharma Inc.:
Akela Pharma is an integrated drug development company focused on
developing therapies for the growing multi-billion dollar inhalation and pain
markets. Its lead product, for the treatment of breakthrough cancer pain, is a
fast-acting Fentanyl formulation delivered using the Company's TAIFUN(R) dry
powder inhaler platform. Its pipeline also includes therapeutics for asthma,
COPD, growth hormone deficiencies and controlled substance abuse deterrent
formulations. PharmaForm, Akela's wholly owned subsidiary, is a leading
specialty contract service provider offering a portfolio of innovative
technologies in drug product development, manufacturing and analytical testing
to the pharmaceutical and biotechnology industries. Through its diverse
offerings, PharmaForm solutions help clients reduce development costs and
Akela's common shares trade on The Toronto Stock Exchange ("TSX") under
the symbol "AKL" with 21.6 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 its performance, business and future events. Such statements are
subject to a number of risks, uncertainties and assumptions. Actual results
and events may vary significantly.
For further information:
For further information: visit Akela's website at www.akelapharma.com,
or contact: Dr. Taneli Jouhikainen, Senior Vice President, Corporate
Development, (512) 632-7537