Healthcare Industry News: breakthrough cancer pain
News Release - July 12, 2007
LAB International announces name change to Akela Pharma Inc.
MONTREAL, July 12 (HSMN NewsFeed) - LAB International Inc., (TSX: LAB, Frankfurt: LD9.F, XETRA: LD9.DE) ("LAB"), a drug development company focused on developing therapies for the inhalation and pain markets, today announced that it has formally changed its corporate name to Akela Pharma Inc. (Akela). The name change was approved by shareholders at the Corporation's Annual and Special Shareholders Meeting held on June 22, 2007. In conjunction with the name change, the Corporation's website and email domain name has been changed to www.akelapharma.com. Akela's CUSIP number is 00972X101.In addition, Akela is anticipated to start trading under the new ticker symbol "AKL" on the Toronto Stock Exchange on Friday July 13, 2007.
"As part of the LAB Research spin-off and IPO conducted last year, it was contractually agreed they would keep the LAB name. Our new corporate name, Akela Pharma, marks an exciting new chapter in the history of our fast progressing company. It also better reflects our intent to strictly focus on developing therapies for the vast inhalation, pain and CNS markets." said Dr. Halvor Jaeger, Chief Executive Officer of Akela Pharma Inc.
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® dry powder inhaler platform. Its pipeline also includes therapeutics for asthma, COPD, and growth hormone deficiencies.
Akela's common shares will trade as of July 13, 2007 on The Toronto Stock Exchange ("TSX") under the symbol "AKL" with 82.3 million shares outstanding.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of LAB International 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.
Source: Akela Pharma
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