Galena Biopharma and Dr. Reddy's Announce Strategic Partnership for NeuVax(TM) in India

Galena Biopharma and Dr. Reddy's Announce Strategic Partnership for NeuVax(TM)
in India

  *Galena licenses commercial rights to Dr. Reddy's for NeuVax™
    (nelipepimut-S) in breast and gastric cancers
  *Dr. Reddy's to lead the development of NeuVax in Gastric Cancer,
    significantly expanding the potential addressable patient population
  *Galena to receive development and sales milestones, as well as
    double-digit royalties on net sales
  *Licensing and development terms contracted conditioned upon agreement on
    ancillary activities

PORTLAND, Ore. and HYDERABAD, India, Jan. 14, 2014 (GLOBE NEWSWIRE) -- Galena
Biopharma (Nasdaq:GALE) and Dr. Reddy's Laboratories Ltd. (NYSE:RDY) today
announced a strategic development and commercialization partnership on NeuVax™
(nelipepimut-S) in India.

Galena Biopharma is a biopharmaceutical company commercializing and developing
innovative, targeted oncology treatments that address major unmet medical
needs to advance cancer care.Dr. Reddy's is an integrated global
pharmaceutical company, committed to providing affordable and innovative
medicines for healthier lives.

"This partnership with Dr. Reddy's is consistent with our strategy to expand
the clinical utility of NeuVax in unmet medical needs while simultaneously
increasing the commercial footprint of this innovative cancer immunotherapy,"
said Mark J. Ahn, Ph.D., President and CEO of Galena Biopharma."Dr. Reddy's
is a leading pharmaceutical company in India with significant
commercialization and development expertise.The gastric cancer trial will add
a significant indication to our pipeline for NeuVax, while doubling our
potential patient population if approved."

G V Prasad, Chairman and CEO, Dr. Reddy's commented, "The partnership
accelerates our strong commitment to innovation and efforts to bring newer
options for cancer patients. We are delighted with our partnership with Galena
Biopharma and we believe NeuVax can be a good potential treatment option to
prevent the recurrence of breast and gastric cancer." 

About NeuVax™ (nelipepimut-S)

NeuVax™ (nelipepimut-S) is the immunodominant nonapeptide derived from the
extracellular domain of the HER2 protein, a well-established target for
therapeutic intervention in breast carcinoma. The nelipepimut-S sequence
stimulates specific CD8+ cytotoxic T lymphocytes (CTLs) 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 U.S. 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 PRESENT
trial is ongoing and additional information on the study can be found at
www.neuvax.com. A randomized, multicenter investigator sponsored, 300 patient
Phase 2b clinical trial is also enrolling patients to study NeuVax in
combination with Herceptin® (trastuzumab; Genentech/Roche).

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 low to intermediate (IHC 1+/2+ or FISH < 2.0) 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 commercializing and developing innovative, targeted
oncology treatments that address major unmet medical needs to advance cancer
care.For more information visit www.galenabiopharma.com.

About Dr. Reddy's

Dr. Reddy's Laboratories Ltd. (NYSE:RDY) is an integrated global
pharmaceutical company, committed to providing affordable and innovative
medicines for healthier lives. Through its three businesses - Pharmaceutical
Services and Active Ingredients, Global Generics and Proprietary Products –
Dr. Reddy's offers a portfolio of products and services including APIs, custom
pharmaceutical services, generics, biosimilars and differentiated
formulations. Major therapeutic focus is on gastro-intestinal, cardiovascular,
diabetology, oncology, pain management and anti-infective. Major markets
include India, USA, Russia-CIS and Europe apart from other select geographies
within Emerging Markets. For more information, log on to: www.drreddys.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.Such statements include,
but are not limited to, statements about the planned clinical trial of NeuVax
in gastric cancer in India and the commercialization of NeuVax in India in
both breast and gastric cancers. These forward-looking statements are subject
to a number of risks, uncertainties and assumptions, including those
identified under "Risk Factors" in Galena's Annual Report on Form 10-K for the
year ended December 31, 2012 and most recent Quarterly Reports on Form 10-Q
filed with the SEC.Actual results may differ materially from those
contemplated by these forward-looking statements. Galena does not undertake to
update any of these forward-looking statements to reflect a change in its
views or events or circumstances that occur after the date of this press
release.

CONTACT: Galena Biopharma Contact:
        
         Remy Bernarda
         Vice President, Marketing & Communications
         +1 (503) 405-8258
         rbernarda@galenabiopharma.com
        
         Dr. Reddy's Investors and Financial Analysts Contacts:
        
         Kedar Upadhye at kedaru@drreddys.com /+91-40-66834297
         Saunak Savla at saunaks@drreddys.com / +91-40-49002135
         Milan Kalawadia (USA) at mkalawadia@drreddys.com /
         +1 908-203-4931
        
         Dr. Reddy's Media Contact:
        
         SVS Chowdary Lakamsani at chowdaryl@drreddys.com

Galena Biopharma, Inc.
 
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