AKELA Pharma Inc. announces U.S. public offering and proposed listing

    Toronto Stock Exchange Symbol: AKL

    MONTREAL, Oct. 15 /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 is undertaking a public offering in the
United States of 5,250,000 shares of its common stock. Akela has granted the
underwriters a 30-day option to purchase up to an additional 787,500 shares at
the public offering price to cover over-allotments, if any. Proceeds from the
offering will be used to further the research, development and expansion of
Akela's product candidates and for other working capital and general corporate
    Akela has applied to list its common shares on the NASDAQ(TM) Global
Market under the symbol "AKLA." Akela's shares are currently listed on the
Toronto Stock Exchange under the symbol "AKL."
    Lazard Capital Markets LLC will act as the sole book-running manager for
the offering. Oppenheimer & Co., Inc. and Broadpoint Capital, Inc. will act as
co-managers for the offering. A copy of the preliminary prospectus may be
obtained by contacting Lazard Capital Markets LLC at 30 Rockefeller Plaza, New
York, New York 10020, Attention: Syndicate Department, 60th Floor, or by phone
at (212) 632-6717.
    A registration statement relating to these securities has been filed with
the U.S. Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such state or

    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

    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: Frédéric Dumais, Vice-President, Investor
Relations, (514) 315-3330 ext. 106, Fax: (514) 315-3325; Tina Posterli, (U.S.
Media), (917) 322-2565, tposterli@rxir.com; www.akelapharma.com

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Akela Pharma Inc

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