August 13, 2012

Galena Biopharma Issued Folate Binding Protein (FBP) Cancer Vaccine Patent in Japan

  • Folate Binding Protein Phase 1/2 trial on track for results in 2013.
  • Composition of Matter and Treatment patent covers Folate Binding Protein (FBP) peptide variants for individual or expanded use in combination with the novel FBP vaccine, E39.
  • Provides exclusivity in Japan until 2022, with additional worldwide patent filings pending.

LAKE OSWEGO, Ore., Aug. 13, 2012 (GLOBE NEWSWIRE) -- Galena Biopharma, Inc. (Nasdaq:GALE), a biotechnology company focused on developing innovative, targeted oncology treatments, today announced the issuance of a patent from the Japan Patent Office (JPO) for a Composition of Matter and Method of Treatment patent covering Folate Binding Protein (FBP) peptide variants for use either alone or in combination with the FBP cancer vaccine, E39. The Japanese patent provides exclusivity in the country until 2022, with additional worldwide patent filings pending.

"Since acquisition of FBP in September 2011, we have worked diligently to progress the Phase 1/2 clinical trial and expand the intellectual property portfolio both in the U.S. and overseas, as evidenced by this patent in Japan," stated Mark J. Ahn, Ph.D., President and CEO. "We are currently enrolling patients in the dose-escalation cohort of our clinical trial, with results anticipated next year."

About Folate Binding Protein (FBP)

Folate Binding Protein (FBP) is highly over-expressed in breast, ovarian and endometrial cancers and is a well-validated therapeutic target. FBP is the source of immunogenic peptides like E39 that can stimulate cytotoxic T lymphocytes (CTL) to recognize and destroy preclinical FBP-expressing cancer cells. The FBP vaccine consists of the FBP peptide(s) combined with the immune adjuvant, granulocyte macrophage-colony stimulating factor (GM-CSF). Galena's FBP vaccine, E39, is currently in a Phase 1/2 trial in two gynecological cancers: ovarian and endometrial adenocarcinomas.

About Ovarian/Endometrial Cancers

Ovarian cancer occurs in over 22,000 patients per year in the U.S. and is the most lethal gynecologic cancer. Despite the incidence of ovarian cancer being only approximately 20% that of breast cancer, the number of patients that die from ovarian cancer is nearly 50% that of breast cancer. Due to the lack of specific symptoms, the majority of ovarian cancer patients are diagnosed at later stages of the disease. These patients are routinely surgically debulked to minimal residual disease, and then treated with platinum- and/or taxane-based chemotherapy. While most patients respond to this treatment regime and become clinically free of disease, the majority of these patients will relapse, and once the disease recurs, the treatment options and successes drop dramatically.

Endometrial cancer is the most common gynecologic cancer and occurs in over 46,000 women, with over 8,000 deaths, in the U.S. annually. There are two basic types of endometrial cancer: endometriod and papillary serous. The latter has a much more aggressive clinical course and the majority of these patients will die of this form of the disease.

About Galena Biopharma

Galena Biopharma, Inc. (Nasdaq:GALE) is a Portland, Oregon-based, biopharmaceutical company that develops 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

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 significance of the allowed patent. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including the risks set forth in Galena's most recent annual report on Form 10-K and quarterly reports on Form 10-Q.

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


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