History

AKELA Pharma INC.

1.    About AKELA Pharma Inc.

AKELA Pharma Inc. (LAB) 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 approved TAIFUN® dry powder inhaler platform. Its pipeline also includes therapeutics for asthma, COPD, growth hormone deficiencies and abuse deterrent formulations for controlled substance. AKELA’s common shares trade on the Toronto Stock Exchange ("TSX") under the symbol "AKL" with 11.7 million shares outstanding.

Dr. Halvor Jaeger, CEO of the company, founded LAB Preclinical Inc. in Laval, Canada, in 1998 as the initial core of the entity that became publicly traded in May 2002 and renamed LAB International Inc. LAB changed its name to AKELA Pharma Inc. following the acquisition of PharmaForm, a privately held company based in Austin, Texas. AKELA currently employs more than 120 employees operating in facilities located in Laval (Quebec, Canada), Austin (Texas, USA) and Turku (Finland).


2.    AKELA Pharma Inc. operations

In January 2004, LAB, as it was then called, acquired 100% of the outstanding shares of Focus Inhalation Oy in Turku, a Finnish company formed as a spin-off of Schering AG and specializing in the development of inhalation delivery systems and therapeutics. By merging LAB’s existing portfolio of proprietary products with the product portfolio, scientific excellence, regulatory approved inhaled drug delivery platform - TAIFUN® and substantial manufacturing infrastructure of Focus, LAB Pharma emerged as one of the leading developers, formulation experts and manufacturers of inhaled therapeutics. 

In January 2007, LAB announced the closing of the acquisition of all of the outstanding membership interests of PharmaForm L.L.C., a privately held company headquartered in Austin, Texas before changing its name in June 2007 to AKELA Pharma Inc. PharmaForm is a leading specialty contract service provider offering a portfolio of innovative technologies in drug product development, manufacturing and analytical testing.  Through its diverse offerings, PharmaForm delivers drug product solutions that help clients reduce development costs and accelerate time-to-market. PharmaForm is currently expanding its drug product pipeline based upon its expertise in hot-melt extrusion and solids processing.

The acquisition of PharmaForm has brought AKELA significant new abilities directly related to our existing programs, as well as valuable platforms and products to broaden our pipeline.  At the same time it has elevated AKELA’s profile in the world’s most important pharmaceutical and investment marketplace, the United States of America.