Akela Pharma Inc. Awarded Development Contract at its PharmaForm LLC Subsidiary

6/5/2008 3:09:18 PM

MONTREAL, June 5 /CNW Telbec/ - Akela Pharma Inc. (TSX: "AKL"), a drug development company focused on developing therapies for the inhalation and pain markets, today announced that it has been awarded a development and manufacturing contract at its PharmaForm subsidiary located in Austin, Texas, for development and manufacturing of a generic form of a commercial product for an undisclosed pharmaceutical company. The contract is anticipated to generate $1.5 - $2.0 M. in revenues over the next 12 - 18 months. The contract includes technical transfer to support GMP manufacturing, process validation, quality release testing and stability characterization. PharmaForm expects to sign additional contracts with this client to support manufacture of clinical supplies for an additional indication and commercial manufacturing in the near future.

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