PHARMAFORM ANNOUNCES COMMERCIAL MANUFACTURING CONTRACT FOR CORCEPT’S KORLYM
Austin, Texas; March 26, 2012 – PharmaForm announced today that Corcept Therapeutics Inc. has chosen PharmaForm as their primary commercial manufacturer for their newly approved drug product, Korlym™. The U.S. Food and Drug Administration approved Corcept’s Korlym™ on February 17th, 2012 for patients with endogenous Cushing’s syndrome.
PharmaForm, a full-service contract provider of development and manufacturing for the pharmaceutical and biotech industry, has worked with Corcept for several years as a contract provider for services in the development, optimization and validation of the manufacturing process for Corcept’s Korlym™.
PharmaForm, a wholly-owned subsidiary of Akela Pharma, Inc., is a leading specialty contract manufacturer for pre-clinical, clinical and commercial products. PharmaForm specializes in the area of pharmaceutical dosage form development, controlled release and bioavailability enhancement technologies, such as hot melt extrusion, spray drying, fluid bed processing, and liquid filled capsules.
PharmaForm’s expertise along with its ability to handle certain class potent compounds places PharmaForm as a leader in the field of specialty pharmaceutical dosage formulation and GMP manufacturing. Through its diverse offerings, PharmaForm’s 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, Inc. is the parent company of PharmaForm, and its common shares trade on The Toronto Stock Exchange (“TSX”) under the symbol “AKL” with 32.4 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 other projections as well as statements regarding the company’s future plans, objectives, performance, revenues, growth, profits, operating expenses or the company’s underlying assumptions. The words “may”, “would”, “could”, “will”, “likely”, “expect”, anticipate”, “intend”, “plan”, “forecast”, “project”, “estimate” and “believe” or other 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.
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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.
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