N@N

Akela Pharma announces director resignation

^{Published on 2009-10-20 04:43:45, Last Modified on 2009-11-02 11:40:58 - Market Wire}
 

AUSTIN, TX, Oct. 20 /CNW Telbec/ - Akela Pharma, Inc., (TSX: AKL) a leader in the development of therapeutics for the treatment of pain, and the company's wholly owned subsidiary, PharmaForm, today announced the resignation of Raj Maheshwari from his position as a non-executive director of the company. Mr. Maheshwari served on Akela Pharma's board since June 2008. There are no current plans to replace this position, and the current five members will continue to carry out the duties of the board.

"Raj has been a valuable member of Akela's board and we thank him for his many contributions to the company during the time of his service," stated Gregory McKee, president and chief executive officer of Akela Pharma. "We wish Raj well in all his future endeavors."

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 is a fast-acting fentanyl formulation delivered using the company's TAIFUN 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.

About PharmaForm:

PharmaForm, Akela's wholly owned subsidiary, is a leading specialty contract service provider in the area of pharmaceutical dosage form development and manufacturing, specializing in controlled release and bioavailability enhancement technologies, such as hot melt extrusion, liquid filled capsules, and spray drying. Through its diverse offerings, PharmaForm solutions help pharmaceutical and biotechnology clients reach their development targets, reduce development costs and accelerate time-to-market.

Akela's common shares trade on The Toronto Stock Exchange ("TSX") under the symbol "AKL" with 30.9 million shares outstanding.