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Galena Biopharma Announces Expansion of Scientific Advisory Board

LAKE OSWEGO, Ore., May 10, 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 Robert Figlin, M.D., F.A.C.P. to the Company's Scientific Advisory Board (SAB). Dr. Figlin is the Associate Director of the Academic Development Program and Director of the Division of Hematology/Oncology at Cedars-Sinai's Samuel Oschin Comprehensive Cancer Institute. He is board-certified in both medical oncology and internal medicine.

"Dr. Figlin is a tremendous asset to Galena's Scientific Advisory Board, as he is a recognized leader and expert in advancing novel cancer therapies," said Rosemary Mazanet, M.D., Ph.D., Executive Vice President and Chief Medical Officer. "We look forward to his input and guidance as we reach the next level of success with our oncology treatments."

Dr. Figlin is a prolific researcher known for advancing cancer therapies. His expertise has resulted in the development of novel anti-cancer drugs that have led to improved outcomes for patients. Dr. Figlin has written more than 300 peer-reviewed publications, authored several books on kidney cancer, and published more than 60 book chapters on new approaches to cancer treatment. He is a fellow of the American College of Physicians and the International Society for Biologic Therapy as well as a member of the American Society of Clinical Oncology, the American Association for Cancer Research, and the American Urological Association.

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

Galena Biopharma, Inc.

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