Akela Pharma awarded development contract from Pear Tree Pharmaceuticals, Inc. at its PharmaForm subsidiary



    www.akelapharma.com
    Toronto Stock Exchange Symbol: AKL

    MONTREAL, June 12 /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 been awarded a development contract
from Pear Tree Pharmaceuticals, Inc. at its PharmaForm subsidiary located in
Austin, Texas, for the development of two different drug products for
treatment of atrophic vaginitis. PharmaForm will develop the drug products to
deliver Pear Tree's confidential drug substances to the vaginal cavity.
    "We are proud to have the opportunity to work on the development of this
new therapy with Pear Tree Pharmaceuticals. We believe that PharmaForm's know
how and experience delivering novel and innovative formulation and product
development solutions to the pharmaceutical industry, in particular vaginal
delivery, will provide Pear Tree Pharmaceuticals with a fast and efficient
development process" said Dr. Michael Crowley, Vice President, Business
Development of PharmaForm.
    "We are pleased to be working with PharmaForm on these important
products. We believe PharmaForm's recognized expertise in drug product
development and delivery to the vaginal cavity will help us accelerate our
program strategies" mentioned Stephen C. Rocamboli, President of Pear Tree
Pharmaceuticals, Inc.

    About Pear Tree Pharmaceuticals, Inc.

    Pear Tree Pharmaceuticals, Inc. (Cambridge, MA) is a development stage
pharmaceutical company focused on the development and commercialization of
innovative and high-quality pharmaceuticals that address the unique, unmet
needs of aging women, including products that treat and prevent diseases,
symptoms and conditions associated with menopause and cancer chemotherapy.
Pear Tree currently has two product candidates entering clinical trials.

    About PharmaForm:

    Headquartered in Austin, Texas, PharmaForm is a leading specialty
contract service provider offering a portfolio of innovative technologies in
drug product development, manufacturing and analytical testing. Through its
diverse offerings, PharmaForm delivers drug product solutions that help
clients reduce development costs and accelerate time-to-market. PharmaForm is
currently expanding its drug product pipeline based upon its expertise in
hot-melt extrusion and solids processing.

    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
accelerate time-to-market.

    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.
    %SEDAR: 00003466EF




For further information:

For further information: visit Akela's website at www.akelapharma.com,
or contact: Frédéric Dumais, Vice-President, Investor Relations, (514)
315-3330 ext. 106, Fax: (514) 315-3325

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