PHARMAFORM ANNOUNCES CORPORATE UPDATE AND EXPANSION PLANS
pharmaceutical formulation and clinical manufacturing, today announced
several corporate updates including the hire of several key scientists
and investment in capital equipment that will allow the company to
significantly expand in 2011.
PharmaForm announced today the appointment of
Vice President of Pharmaceutical Operations. Dr. West brings over 20
years of experience as a senior executive and formulation scientist
with expertise in several emerging formulation technology platforms
including hot melt extrusion and spray drying. Dr. West previously was
employed at Bend Research and Azo Pharma and earned his Ph.D. in
Organic Chemistry from
degree in Biochemistry from Harvard University. Feng Zhang, Ph.D. will
be transitioning to Senior Formulation Consultant.
In addition, to hiring Dr. West, PharmaForm has recently expanded its
Pharmaceutical Operations team, which includes both R&D and cGMP
manufacturing functions, and Business Development teams with eight new
PharmaForm also announced today the expansion of PharmaForm’s Hot Melt
Extrusion (HME) manufacturing capabilities as the Company will be
acquiring two new Leistritz Extruders. PharmaForm has ordered a ZSE -18
Twin Screw Extruder as well as a ZSE – 27 Twin Screw Extruder for pilot
scale and GMP commercial manufacturing to complement our existing
platform of the Leistritz Nano16 and Leistritz ZSE 18 extruders.
“We are extremely pleased to add Blair to our scientific team,” stated
“We believe that Blair, along with our other hires and capital
expansion plans will allow PharmaForm to grow significantly in 2011.”
Mr. McKee continued. “We would also like to thank Dr.
his years of dedicated service to the Company and wish him great
success in his future endeavors.”
PharmaForm celebrates its 15(t)(h) Anniversary as a leader in the pharmaceutical formulation industry in
May of 2011.
PharmaForm with its platform of an Anhydro Spray Dryer, Glatt Fluid Bed
Processors and Gerteis Mini-Pactor has incrementally grown its spray
drying formulation and manufacturing business over the past several
PharmaForm remains an industry leader in the formulation of potent
compounds and controlled release drug delivery. Working with solid oral
dosage (tablets, capsules and film coating) as well as HME novel dosage
forms (oral dissolving thin films, transmucosal and oral tablets &
Capsules) and creams, emulsions, gels, nasal spray and dry powder
PharmaForm, a wholly-owned subsidiary of Akela Pharma, Inc, is a leading
specialty contract manufacturer in the area of pharmaceutical dosage
form development, specializing in controlled release and
bioavailability enhancement technologies, such as hot melt extrusion,
liquid filled capsules, and spray drying. Through its diverse
offerings, PharmaForm solutions help pharmaceutical and biotechnology
clients reach their drug development targets, reduce development costs
and accelerate time-to-market for their products.
About Akela Pharma Inc.
Akela Pharma is a drug development company with its lead product,
Fentanyl TAIFUN(R), being developed for the treatment of breakthrough
cancer pain. Fentanyl TAIFUN(R) is a fast-acting fentanyl formulation
delivered using the company’s TAIFUN(R) multi-dose dry powder inhaler
Akela’s common shares trade on The Toronto Stock Exchange (“TSX”) under
the symbol “AKL” with 32.1 million shares outstanding.
This press release contains statements which may constitute
forward-looking information under applicable Canadian securities
legislation or forward-looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1955. Such
forward-looking statements or information may include financial and
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plans, objectives, performance, revenues, growth, profits, operating
expenses or the company’s underlying assumptions. The words “may”,
“would”, “could”, “will”, “likely”, “expect”, anticipate”, “intend”,
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similar words and phrases may identify forward-looking statements or
information. Persons reading this press release are cautioned that such
statements or information are only expectations, and that the company’s
actual future results or performance may be materially different.
Forward-looking statements or information in this press release include,
but are not limited to, statements or information concerning our
ongoing drug development programs and collaborations as well as the
possible receipt of future payments upon achievement of milestones.
Such forward-looking statements or information involve known and unknown
risks, uncertainties and other factors that may cause our actual
results, events or developments to be materially different from
results, events or developments expressed or implied by such
forward-looking statements or information. Such factors include, among
others, the possibility that risks associated with requirements for
approvals by government agencies such as the FDA before products can be
tested in clinical trials; the possibility that such government agency
approvals will not be obtained in a timely manner or at all or will be
conditioned in a manner that would impair our ability to advance
development; risks associated with the requirement that a drug
candidate be found safe and effective after extensive clinical trials;
our dependence on suppliers, collaborative partners and other third
parties and the prospects and timing for negotiating supply agreements,
corporate collaborations or licensing arrangements; our ability to
attract and retain key personnel; and other factors as described in
detail in our filings with the Canadian securities regulatory
authorities at http:www.sedar.com.
Assumptions underlying our expectations regarding forward-looking
statements or information contained in this press release include,
among others, that future clinical trial results will be favorable;
that our drug candidate will treat target diseases as intended; that we
will raise enough capital, on reasonable terms and in a timely manner;
that we will retain our key personnel; that we will obtain the
necessary regulatory approvals.
In the event that any of these assumptions prove to be incorrect, or in
the event that we are impacted by any of the risks identified above, we
may not be able to continue in our business as planned.
For a complete discussion of the assumptions, risks and uncertainties
related to our business, you are encouraged to review our filings with
Canadian securities regulatory authorities, filed on SEDAR at http://www.sedar.com.
All forward-looking statements and information made herein are based on
our current expectations as of the date hereof and we disclaim any
intention or obligation to revise or update such forward-looking
statements and information to reflect subsequent events or
circumstances, except as required by law.
SOURCE AKELA PHARMA INC.