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August J. Moretti Joins Alexza Molecular Delivery Corporation As Senior Vice President And CFO

10/19/2005 5:12:49 PM

PALO ALTO, Calif., Feb. 24 /PRNewswire/ -- Alexza Molecular Delivery Corporation ("Alexza") announced today that August J. Moretti has joined the company as Senior Vice President, Chief Financial Officer. Mr. Moretti joined Alexza in 2004 as Chief Financial Officer in a half-time capacity. From January 2001 to January 2005, he served as Chief Financial Officer and General Counsel for SurroMed, Inc. Prior to SurroMed, Mr. Moretti was a partner at Heller Ehrman White & McAuliffe, an international law firm, from 1982 to 2000, having joined the firm in 1976. Mr. Moretti has extensive experience with both private and public companies on issues relating to disclosure and public reporting, and public and private financings (notably working on IPO / public financings for Cetus, Affymax, Affymetrix, Maxygen, Cepheid, Thoratec, Inhale, Isis and Catalytica). Mr. Moretti received a BA degree from Princeton University and a JD from Harvard Law School.

"I am extremely pleased to welcome Augie to our Alexza executive team," said Thomas B. King, President and CEO. "His broad background in areas essential to the company over the next several years will be key as we continue the growth and momentum we have established."

"I am delighted to join the management team at Alexza," said Mr. Moretti. "I believe Alexza's drug delivery technology has broad application and provides the opportunity to build a pharmaceutical company with multiple, diverse product offerings."

Alexza was co-founded by biotechnology and drug delivery pioneer, Dr. Alejandro Zaffaroni. Alexza is developing proprietary products using the company's core delivery platform, Staccato(TM) technology. This Staccato technology enables the rapid onset of therapeutic effect of many small molecule drugs as well as patient self-titration to the lowest effective dose to better treat acute and intermittent conditions. The Company recently completed its first Phase I clinical study with AZ-001, its lead product candidate and closed a $52 million financing. Alexza has three additional product candidates in development, targeting initial clinical studies for each during 2005.

Alexza Molecular Delivery Corporation

CONTACT: Thomas B. King, President & CEO of Alexza Molecular DeliveryCorporation, +1-650-687-3900, or

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