Akela Pharma signs an exclusive development agreement to develop special oral dosage forms at its PharmaForm subsidiary



    MONTREAL, Feb. 26 /CNW Telbec/ - Akela Pharma Inc. (TSX: "AKL"), a drug
development company focused on developing an inhaled fentanyl product for
breakthrough cancer pain and a growth hormone releasing hormone (GHRH) for
chronic renal disease, today announced that its wholly owned subsidiary,
PharmaForm, has signed a development agreement with an undisclosed global
pharmaceutical company, to develop specialized oral dosage forms at its
facility located in Austin, Texas.
    Under the terms of the agreement, PharmaForm will develop products in one
or more therapeutic areas utilizing PharmaForm's core expertise in hot melt
extrusion. In addition to providing contract formulation services, PharmaForm
will be entitled to royalty payments upon product commercialization.
    PharmaForm is one of the world leaders in applying hot melt extrusion to
the development of oral, transmucosal, and transdermal dosage forms.
PharmaForm's scientists have published more than forty peer-reviewed
publications and have developed significant intellectual property on the
topic.

    About PharmaForm, LLC

    Since 1996, PharmaForm has built an international reputation for
delivering novel and innovative solutions to challenging problems in
pharmaceutical product development, manufacturing, and analytical services.
The Company has formulation expertise in oral, nasal, pulmonary, dermal,
mucosal and vaginal delivery. PharmaForm's scientific staff has considerable
experience in drug delivery including time-release formulations, solubility
enhancement and hot-melt extrusion techniques. The Company's facility is
registered with the FDA and the DEA and is cGMP/GLP compliant.

    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: 00003466E




For further information:

For further information: Dr. Taneli Jouhikainen, Acting CEO, (512)
632-7537

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Akela Pharma Inc

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