Akela Pharma has announced completion of a private placement totaling $2,310,000 that it will use primarily for expansion of spray drying and hot melt extrusion capabilities at its subsidiary, PharmaForm. Although PharmaForm specializes in solid dosage forms, it also offers services for nasal sprays and dry powder formulation development.
The parent company, Akela, discontinued its Taifun inhaled fentanyl development program in August 2011 to focus on PharmaForm.
Read the Akela press release.
