Toronto Stock Exchange Symbol: AKL
MONTREAL, Jan. 3 /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 extended the territory coverage of
the initial license and development agreement it has with Janssen
Pharmaceutica NV for Fentanyl TAIFUN(R), its fast-acting Fentanyl formulation
using the company's TAIFUN(R) dry powder inhaler, to include Canada.
The existing agreement with Janssen Pharmaceutica NV already covers the
European Union, Eastern Europe, Russia, the Middle-East and Africa. All the
commercial and contractual conditions remain in effect. The product will be
distributed by Janssen-Ortho Inc for the Canadian market. Akela Pharma will
receive a signing fee, development and regulatory milestones as well as
commercial sales milestones that are in line with current commercial
expectations regarding the Canadian market as compared with the European Union
"The addition of the Canadian market to our existing agreement with
Janssen Pharmaceutica NV represents yet another solid validation of the
superior therapeutic profile of our lead product, Fentanyl TAIFUN(R). We are
obviously very pleased to broaden the scope of our collaboration into the
North-American continent with such a world class and renowned organization"
said Dr Halvor Jaeger, CEO of Akela Pharma Inc.
About Breakthrough Pain
Chronic pain associated with advanced cancer is commonly treated with
opioid analgesics, such as fentanyl. Breakthrough pain episodes are sudden and
intense flares of pain that "break through" a long-acting continuous
treatment, such as a transdermal patch or sustained release oral formulations.
Break-through pain episodes are common in cancer patients, often occurring
several times a day.
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
Akela's common shares trade on The Toronto Stock Exchange ("TSX") under
the symbol "AKL" with 11.7 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.
For further information:
For further information: Frédéric Dumais, Vice-President, Investor
Relations, (514) 315-3330 ext. 106, Fax: (514) 315-3325; www.akelapharma.com