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Galena Biopharma Commercialization Partnership Wit

Galena Biopharma, Inc. (NASDAQ: GALE)

GALE ("Galena Biopharma") reported today it has signed an agreement with a subsidiary of Teva Pharmaceutical Industries Limited for the commercialization of NeuVax(TM) (nelipepimut-S or E75) in Israel.

NeuVax(TM) (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.

Under the agreement, Teva Israel will assume responsibility for regulatory registration in Israel, provide financial support for local development, and will commercialize the product in the region. Specific financial terms were not disclosed, but the agreement allows for significant royalty payments to GALE ("Galena Biopharma") on future sales.

Israel will be the location of at least four clinical trial sites for the NeuVax Phase 3 PRESENT (Prevention of Recurrence in Early-Stage, Node-Positive Breast Cancer with Low-to-Intermediate HER2 Expression with NeuVax Treatment) study.

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 .

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