Alexza Molecular Delivery Corporation (MDC) Changes Name To Alexza Pharmaceuticals, Inc. 
10/19/2005 5:12:08 PM

PALO ALTO, Calif., July 21 /PRNewswire/ -- Alexza Molecular Delivery Corporation announced today that it has changed its name to Alexza Pharmaceuticals, Inc. ("Alexza").

"Our name change to Alexza Pharmaceuticals more accurately represents our corporate growth and signals our transition from a primarily research-focused organization to a more advanced stage as we initiate clinical trials for our product candidates," said Thomas B. King, President and CEO. "In mid-2004, we committed ourselves to the goal of placing four product candidates into clinical development by the end of 2005. We remain on track toward achieving this goal."

"In less than five years, Alexza has progressed from a vision and a business plan, to a clinical-stage specialty pharmaceutical company," said Dr. Alejandro Zaffaroni, the Company's Chairman. "This is due to the strength and breadth of Alexza's core technologies, coupled with the profound dedication and effort of our employees. I look forward to great things from this company."

Alexza was co-founded by biotechnology and drug delivery pioneer, Dr. Alejandro Zaffaroni. The Company is developing proprietary products using its core technology, the Staccato(TM) system. This technology enables the rapid onset of therapeutic effect of many small molecule drugs as well as patient self-titration to better treat acute and intermittent conditions. In late 2004, the Company completed its first Phase I clinical study with AZ-001, its initial product candidate and is currently conducting a Phase IIa study with the same product candidate for the treatment of migraine headache. Alexza recently commenced a Phase I study on its second product candidate, AZ-002. Alexza has two additional product candidates in pre-clinical development, with the initiation of Phase I clinical studies for both product candidates targeted for the second half of 2005.

This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to initiation and progress of the Company's clinical trial programs. Actual results could differ materially from those projected and the Company cautions investors not to place undue reliance on the forward-looking statements contained in this release.

Alexza Pharmaceuticals, Inc.

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