Biovail and Alexza Pharmaceuticals have signed a collaboration deal to develop and commercialise a promising late-stage central nervous system drug, AZ-004, for the treatment of agitation in schizophrenia and bipolar disorder patients. AZ-004 is the inhalable form of loxapine, which is delivered to the lungs through Alexza’s single-dose inhaler drug delivery system called Staccato®.