Akela announces amendment to Fentanyl TAIFUN(R) license agreement with Teikoku Seiyaku

    Toronto Stock Exchange Symbol: AKL

    MONTREAL, June 17 /CNW Telbec/ - Akela Pharma, Inc. (TSX: AKL) today
announced that it has signed an amendment to its Fentanyl TAIFUN(R) license
and codevelopment agreement with Teikoku Seiyaku Co. Ltd., in order to advance
certain milestone payments to support the continued development of the
product. Fentanyl TAIFUN(R) is Akela's fast acting inhaled fentanyl
formulation being developed for breakthrough pain in cancer patients.
    According to the amendment to the original agreement announced in January
2006, milestone payments of up to US$ 2 million will be advanced to be payable
earlier than originally intended. Akela received US$ 200,000 upon signing of
the amendment, and will receive US$ 1.8 million subject to meeting a near term
development milestone related to the pharmaceutical development of the
Fentanyl TAIFUN(R). The milestone is expected to be met during 2009.
    Fentanyl is an opioid analgesic commonly used for the treatment of
moderate to severe pain associated with conditions such as cancer. Fentanyl
TAIFUN(R) consists of a dry powder formulation of fentanyl delivered by
Akela's proprietary TAIFUN(R) dry powder inhaler. In phase I clinical trials,
absorption of fentanyl after a single inhalation of Fentanyl TAIFUN(R) has
been shown to be very rapid, with an average peak concentration reached in one
minute. In phase II clinical trials with Fentanyl TAIFUN(R) in cancer
breakthrough pain, the median time to significant pain relief was shown to be
as fast as five minutes. The product is currently in early phase III
development in Europe, but Akela is currently not enrolling new patients to
its clinical program before obtaining further financing to the Company.

    About Teikoku Seiyaku

    Teikoku Seiyaku Co., Ltd. headquartered in Sanbonmatsu, Kagawa, Japan, is
a world leader of manufacturing medicated patches and a pioneer in the field
of anti-inflammatory and analgesic plasters. Lidoderm(R), Lidocaine Patch
distributed by its partner in the US market place is developed and
manufactured by Teikoku Seiyaku. Teikoku Seiyaku is mainly proceeding in two
directions. One is for products based on its innovative TTS technology. The
other is for products for pain-relief.
    Teikoku group companies are innovating high quality drug delivery
systems, and developing and manufacturing the final products. Its product
range is therefore very varied from the medicated patches to , creams,
ointments and other delivery products for numerous conditions and
applications. Teikoku Seiyaku was founded in 1848 and has been in the
pharmaceutical business for over 160 years. Further information about Teikoku
Seiyaku is available at www.teikoku.co.jp

    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

    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, (512)
834-0449, ext. 275

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