Galena Biopharma Announces Addition of Renowned Breast Cancer Physician to Its Scientific Advisory Board

LAKE OSWEGO, Ore., March 21, 2012 (GLOBE NEWSWIRE) -- Galena Biopharma 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 Hope S. Rugo, M.D. to the Company's Scientific Advisory Board (SAB).

"We are pleased to have Dr. Rugo, an esteemed leader in breast cancer research, join our SAB," said Mark J. Ahn, Ph.D., President and CEO. "Dr. Rugo's renowned expertise in breast cancer research and treatment will offer Galena Biopharma deep insight into crucial areas for our continued progress. It is imperative that we build a world-class SAB with key opinion leaders to ensure our progress in developing novel approaches to advancing breast cancer care, and we look forward to Dr. Rugo's participation."

Dr. Hope S. Rugo is a Clinical Professor of Medicine in the Division of Hematology and Oncology at the University of California San Francisco Helen Diller Family Comprehensive Cancer Center, where she directs Breast Oncology and Clinical Trials Education and has an active clinical practice. Her research interests include novel therapies for advanced breast cancer, evaluation of circulating cells as novel markers of response and resistance to therapy, and complementary medicine and supportive care. Dr. Rugo is an investigator in the Bay Area Spore at UCSF breast cancer center, and the principal investigator of a number of clinical trials. She has published many peer-reviewed papers and has given presentations on a variety of cancer related topics. She is a member of the Alliance breast core committee and is the principal investigator of a Phase 3 CALGB therapeutic study for advanced breast cancer that has recently completed accrual. After graduating summa cum laude from Tufts University, Dr. Rugo received her M.D. from the University of Pennsylvania and completed both a residency in internal medicine and fellowship in hematology and oncology at UCSF. She also completed a two-year postdoctoral fellowship in immunology at Stanford University.

About Galena Biopharma

Galena Biopharma, Inc. 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.