Galena Biopharma Receives 2013 Global Frost & Sullivan Award for New Product Innovation for NeuVax(TM)

Galena Biopharma Receives 2013 Global Frost & Sullivan Award for New Product
Innovation for NeuVax(TM)

LAKE OSWEGO, Ore., March 14, 2013 (GLOBE NEWSWIRE) -- Galena Biopharma
(Nasdaq:GALE), a biopharmaceutical company developing innovative, targeted
oncology treatments that address major unmet medical needs to advance cancer
care, announced that independent research firm, Frost & Sullivan, has
recognized Galena Biopharma with the 2013 Global Frost & Sullivan Award for
New Product Innovation. The Company accepted the honor at the Frost & Sullivan
Award Gala, held March 12, 2013 in San Diego, CA.

"We are honored to receive this prestigious award from Frost & Sullivan," said
Mark J. Ahn, Ph.D., President and CEO of Galena Biopharma. "Galena remains
dedicated to the development and commercialization of innovative, personalized
treatment options for women with breast cancer. We are grateful to the
researchers, employees, and especially patients who participate in clinical
trials, for their invaluable support to advance NeuVax."

About NeuVax™ (nelipepimut-S or E75)

NeuVax (nelipepimut-S) is the immmunodominant nonapeptide derived from the
extracellular domain of the HER2 protein, a well-established target for
therapeutic intervention in breast carcinoma. The nelipepimut sequence
stimulates specific CD8+ cytotoxic T lymphocytes (CTL) following binding to
HLA-A2/A3 molecules on antigen presenting cells (APC). These activated
specific CTLs recognize, neutralize and destroy through cell lysis HER2
expressing cancer cells, including occult cancer cells and micrometastatic
foci. The nelipepimut immune response can also generate CTLs to other
immunogenic peptides through inter- and intra-antigenic epitope spreading.
Based on a successful Phase 2 trial, which achieved its primary endpoint of
disease-free survival (DFS), the Food and Drug Administration (FDA) granted
NeuVax a Special Protocol Assessment (SPA) for its Phase 3 PRESENT (Prevention
of Recurrence in Early-Stage, Node-Positive Breast Cancer with Low to
Intermediate HER2 Expression with NeuVax Treatment) study. The Phase 3 trial
is ongoing and additional information on the study can be found at the
recently updated website www.neuvax.com.

According to the National Cancer Institute, over 230,000 women in the U.S. are
diagnosed with breast cancer annually. Of these women, only about 25% are HER2
positive (IHC 3+). NeuVax targets the approximately 50%-60% of these women who
are HER2 negative (IHC 1+/2+ or FISH < 2.2) and achieve remission with current
standard of care, but have no available HER2-targeted adjuvant treatment
options to maintain their disease-free status.

About Galena Biopharma

Galena Biopharma, Inc. (Nasdaq:GALE) is a Portland, Oregon-based
biopharmaceutical company developing innovative, targeted oncology treatments
that address major unmet medical needs to advance cancer care.For more
information please visit us at www.galenabiopharma.com.

The Galena Biopharma, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10647

CONTACT: Madeline Hatton
         Toll free: +1 (855) 855-GALE (4253), ext. 109
         info@galenabiopharma.com

         or

         Remy Bernarda
         IR Sense, LLC
         +1 (503) 400-6995
         remy@irsense.com

Galena Biopharma, Inc.
 
Press spacebar to pause and continue. Press esc to stop.