Alexza secures $45 million from investors based on U.S. Adasuve sales

Alexza's Staccato device--Courtesy of Alexza

Alexza Pharmaceuticals ($ALXA), commercial partners with Teva Pharmaceutical Industries ($TEVA), raised $45 million from the sale of notes to investors. The Mountain View, CA, company secured the notes by royalties and potential milestones from U.S. sales of Adasuve, an inhaled schizophrenia and bipolar disorder treatment delivered with Alexza's Staccato device. The treatment, a powdered version of loxapine, is currently the only orally inhaled treatment for agitation symptoms associated with these diseases and uses a fast onset of about two minutes to curb an episode. Release