MONTREAL, Jan. 3 /PRNewswire-FirstCall/ - Akela Pharma Inc. , 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 market.
“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 formulations.
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.
CONTACT: Frederic Dumais, Vice-President, Investor Relations, (514)
315-3330 ext. 106, Fax: (514) 315-3325; www.akelapharma.com
