Akela Pharma to cut costs to sustain long-term viability of the company

    Toronto Stock Exchange Symbol: AKL

    MONTREAL, Feb. 9 /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 it will be implementing measures to cut
costs in order to preserve cash for its continued operations.
    The reduction in costs is targeted to Akela's development programs, as
well as its service business, PharmaForm. Akela has initiated the phase III
clinical trials in its lead program, Fentanyl TAIFUN(R), in Q4 of 2008, and
will continue the program with focused scope. Having completed a successful
phase IIa study of its GHRH product, as well as a regulatory advice process
with the FDA, the Company is pursuing out-licensing of the product for further
    The measures undertaken are necessary to conserve cash and allow
sufficient time for the Company to continue its efforts in financing and M&A
activities. The Company's growing and profitable pharmaceutical services
business, PharmaForm, remains an important asset of Akela going forward.
PharmaForm is a wholly owned subsidiary of Akela, and had annual revenue of
over $12 million USD in 2008. The cost reduction measures are expected to
improve profitability of PharmaForm with immediate effect, and will not affect
PharmaForm's ability to provide services to its strong mix of pharmaceutical
clients and partners.

    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 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
    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)

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