- 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
About Galena BiopharmaGalena 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 email@example.com Dr. Reddy's Investors and Financial Analysts Contacts: Kedar Upadhye at firstname.lastname@example.org /+91-40-66834297 Saunak Savla at email@example.com / +91-40-49002135 Milan Kalawadia (USA) at firstname.lastname@example.org / +1 908-203-4931 Dr. Reddy's Media Contact: SVS Chowdary Lakamsani at email@example.com