LAKE OSWEGO, Ore., May 31, 2012 (GLOBE NEWSWIRE) -- Galena Biopharma (Nasdaq:GALE), a biotechnology company focused on developing innovative, targeted oncology treatments addressing major unmet medical needs to advance cancer care, today announced the appointment of Gabriel N. Hortobagyi, M.D., F.A.C.P, to the Company's Scientific Advisory Board (SAB).

"Dr. Hortobagyi is an internationally renowned expert in the field of oncology and we are honored to have him join our distinguished group of Scientific Advisors," said Mark J. Ahn, Ph.D., President and CEO. "Dr. Hortobagyi's invaluable experience and guidance will support the future of our clinical trials. We are grateful for the participation of our entire Advisory Board, and we believe their commitment to Galena reflects our dedication and continued progress in advancing cancer immunotherapies."

Dr. Gabriel N. Hortobagyi, M.D., F.A.C.P., is a Professor of Medicine and Chairman of the Department of Breast Medical Oncology and holds the Nellie B. Connally Chair in Breast Cancer Research at the University of Texas MD Anderson Cancer Center (MDACC). Dr. Hortobagyi joined MDACC as a Medical Oncology Fellow in 1974 after graduating from the Universidad National of Colombia in 1970 and completing his internal medicine residency at Case Western Reserve Hospitals in Cleveland, OH. He is an internationally recognized expert on the development of breast cancer therapeutics. He pioneered research with preoperative chemotherapy to reduce the size of large tumors and developed and conducted the definitive clinical trials with bisphosphonates in the prevention of bone-related complications in metastatic breast cancer. Dr. Hortobagyi also conducted one of the earliest randomized trials testing high-dose chemotherapy and autologous hematopoietic stem cell transplant in primary breast cancer. Since 1993, he has pioneered the development of gene therapy for breast cancer. He is Senior Editor for The Oncologist (also section editor for breast cancer) and serves as Associate Editor for Annals of Surgical Oncology, Targeted Oncology, and Clinical and Translational Oncology and as Contributing Editor for Breast Diseases. Dr. Hortobagyi serves (or has served) on more than 30 editorial boards. For the American Society of Clinical Oncology (ASCO), he has served on the Board of Directors since 2002 and was President from 2006-2007.

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 possible clinical benefits, expectations, plans and prospects of the development of NeuVax and Galena's other new product candidates. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including the risks that the anticipated benefits of the announced transactions are not achieved and that the proposed spin-off is delayed or is never completed, as well as the risks, uncertainties and assumptions relating to the development of Galena's new product candidates, including those identified under "Risk Factors" in Galena's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in other filings Galena periodically makes 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 presentation. 


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
distributed by