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News Breaks
July 1, 2014
07:07 EDTGALEGalena receives U.S. patent for NeuVax
Galena Biopharma announced the notice of allowance of a U.S. Patent for NeuVax covering the use of NeuVax alone or in combination to prevent recurrence of any HER2/neu expressing tumor having a fluorescence in situ hybridization, or FISH, rating of less than about 2.0. NeuVax is a peptide immunotherapy for the prevention of cancer recurrence and is Galena's lead development agent in multiple ongoing and planned clinical trials. Once issued, the patent will expire in 2028, not including any patent term extensions. FISH is a diagnostic test used to identify patients with high levels of HER2 gene expression, or FISH greater than 2.0. These patients are eligible for existing approved HER2-directed treatments. Currently there are no approved HER2-directed therapies for patients who express lower levels of HER2, or less than 2.0 by the FISH testing scale. The patent will cover the use of NeuVax in patients with a FISH of less then about 2.0, as a stand-alone therapy or in combination with an adjuvant and/or other agents. Importantly, this NeuVax patent provides Galena with coverage for any tumor expressing low-to-intermediate levels of HER2.
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August 21, 2014
07:15 EDTGALEGalena announces resignation of CEO Mark Ahn
Galena Biopharma announced that Mark Schwartz, Ph.D., has been appointed as President and CEO, effective immediately. Dr. Schwartz was previously Galena's COO. He replaces Mark Ahn, Ph.D. who has resigned as the President and CEO and as a director of the company to pursue "other long held personal and professional goals." It is expected that Dr. Schwartz will also be appointed to Galena's board.
05:32 EDTGALEGalena fired CEO over stock promotion scandal, Feuerstein says
Galena fired its CEO Mark Ahn following a stock promotion scandal, The Street's Adam Feuerstein reported last night, citing a source close to the company. A public announcement is coming today, Feuerstein added.

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