Ferrer Purchases $8M Of Alexza Common Stock Through New Investment And Elimination Of Potential Milestone Payments

Alexza Pharmaceuticals, Inc.

and Grupo Ferrer Internacional, S.A. (Ferrer) announced today that they have amended their agreement for ADASUVE® (Staccato® loxapine). Ferrer is Alexza's commercial partner for ADASUVE in the European Union, Latin America and the Commonwealth of Independent States countries (the Ferrer Territory). Ferrer and Alexza have agreed that Ferrer will purchase 2 million shares of Alexza common stock for $4.00 per share, thereby becoming the Company's largest shareholder. The purchase represents a combination of new investment and consideration for the elimination of certain future potential milestone payments under the agreement. "Ferrer and Alexza's collaboration has been focused on building the market for ADASUVE in our territory and a lasting relationship between the companies," said Jordi Ramentol, Chief Executive Officer of Ferrer. "The expansion of our relationship with Alexza with this strategic investment demonstrates our belief in ADASUVE as a highly valuable therapy, something we also hear from physicians and patients who have had experience with this product. We are pleased to continue our work together to build ADASUVE into a global brand." "We have been very pleased with Ferrer's commitment and progress in bringing ADASUVE to patients since the first country launch in Germany in the summer of 2013. In addition to ADASUVE now being available in nine EU countries, Ferrer has secured three ADASUVE approvals in Latin America," said Thomas B. King, Alexza's President and CEO. "We continue to see momentum in the uptake of ADASUVE and consistently hear from physicians about the clinical benefits that ADASUVE can convey to the patients they treat." King concluded, "We are excited Ferrer is making this strategic investment in Alexza, which reinforces Ferrer's commitment to ADASUVE as an important new therapeutic and to the long-standing collaboration between our two companies."