Conference Call to be Held on Thursday, March 27, 2008
(7:00 p.m. Singapore Time and 7:00 a.m. Eastern Time)
SINGAPORE and MOUNTAIN VIEW, Calif., March 26 /PRNewswire-FirstCall/ -- Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) announced today that Bio*One Capital Pte. Ltd., one of the largest dedicated biomedical investment management companies in Asia, has committed to purchase $10 million of common stock in Alexza. The investment by Bio*One is being made in conjunction with Alexza's formation of Alexza Singapore Pte. Ltd., a wholly owned subsidiary. Alexza intends to initiate manufacturing operations for key components of Alexza's single-dose Staccato(R) device in Singapore. Alexza's single-dose Staccato devices are used in a majority of its current product candidates, including its lead program, AZ-004 (Staccato loxapine), which is in Phase 3 clinical testing for the treatment of acute agitation in schizophrenic or bipolar disorder patients.
"A key element of Alexza's commercial manufacturing strategy is the development of production for the Staccato device-related plastic and electronics components of our commercial product single-dose device," said Thomas B. King, President and CEO of Alexza. "Singapore provides an excellent location and environment for us to establish this important aspect of our commercial manufacturing plan. I believe the rich talent pool and in-depth expertise available in Singapore will be a key element for successful manufacturing operations."
"Alexza's technology and Staccato device offer patients a new paradigm
to rapid systemic drug delivery through deep lung inhalation. We believe
that combining Alexza's unique technology and Singapore's strengths in
medical technology will f
|SOURCE Alexza Pharmaceuticals|
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