Akela Pharma Inc. to hold second quarter 2007 conference call and webcast

    www.akelapharma.com
    Toronto Stock Exchange Symbol: AKL

    MONTREAL, Aug. 3 /CNW Telbec/ - AKELA Pharma Inc., (TSX: AKL), a drug
development company focused on developing therapies for the inhalation, pain
and CNS markets, today announced that it will report financial results for the
second quarter of fiscal 2007 ended June 30, 2007 on Tuesday August 14, 2007.
    Akela will host a conference call at 10:00 a.m., on Tuesday August 14,
2007. Interested parties may also access the conference call by webcast at
www.akelapharma.com.
    The telephone number to access the conference call is 1-800-594-3790. A
replay of the call will be available until Tuesday August 21, 2007. The
telephone numbers to access the replay are 416-640-1917 and 1-877-289-8525
with code number 21243093#.

    About Akela Pharma Inc.

    Akela Pharma is an integrated drug development company focused on
developing therapies for the growing multi-billion dollar inhalation, pain and
CNS 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 abuse deterrent formulations for
controlled substances.
    Akela's common shares trade on The Toronto Stock Exchange ("TSX") under
the symbol "AKL" with 82.3 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; Tina Posterli (U.S. Media), (917)
322-2565, tposterli@rxir.com