Galena Biopharma Appoints Mary Ann Gray, Ph.D., to Its Board of Directors
April 28 2016 - 11:46AM
Galena Biopharma, Inc. (NASDAQ:GALE), a biopharmaceutical company
committed to the development and commercialization of targeted
oncology therapeutics that address major unmet medical needs, today
announced the appointment of Mary Ann Gray, Ph.D. to the Company’s
Board of Directors effective immediately. Dr. Gray will be
listed in Galena’s 2016 Proxy and will be a nominee for election,
at the Company’s Annual Meeting of Stockholders.
Dr. Gray has an extensive background both as a scientist as well
as an analyst and portfolio manager for more than $1 billion in
healthcare investments. She is an experienced corporate director
for both public and private companies encompassing every stage of
development from pre-clinical to commercial. Among her
attributes, Dr. Gray combines financial acumen, serving as an audit
committee chair for several companies, and has robust experience
helping companies navigate the transition from clinical-stage to
commercial-ready.
“We are delighted to welcome Mary Ann Gray to our Board of
Directors where her scientific background, positions at leading
pharmaceutical companies and institutions, and her buy-side and
sell-side experience will have an invaluable impact on the success
of Galena,” stated Mark W. Schwartz, Ph.D., President and Chief
Executive Officer. “Dr. Gray is our first female board
member, adding new perspectives to our Board as we continue to
expand our portfolio of women’s oncology indications. She has been
a champion of NeuVax™ for many years, and we look forward to her
guidance and expertise as we advance our programs.”
Dr. Gray is President of Gray Strategic Advisors, LLC, which
provides strategic advice to both public and private biotechnology
companies. Previously, she spent three and a half years with the
Federated Kaufmann Fund focusing on both public and private
healthcare investments. Prior to joining the Kaufmann Fund, Dr.
Gray was a sell-side biotechnology analyst for nine years with
Raymond James, Warburg Dillon Read, and Kidder Peabody. Earlier in
her career, Dr. Gray held scientific positions at Schering Plough
and NeoRx, managed pre-clinical toxicology studies for the National
Cancer Institute through Battelle Memorial Institute, and worked in
a hospital laboratory.
Dr. Gray currently serves on the board of directors of several
publicly traded biotechnology companies. At Acadia Pharmaceuticals
she serves as chairman of the audit committee and on the
compensation committee. At TetraLogic, Inc. and Juniper
Pharmaceuticals she is chair of the respective audit committees,
and at Senomyx, Inc., she is chair of the compensation committee
and is a member of the audit committee. Previously, Dr. Gray also
served on the boards of Dyax Corp., GTC Biotherapeutics, Inc.,
Telik, and Apthera, Inc. (private). Dr. Gray has a Ph.D. in
Pharmacology from the University of Vermont where she focused on
novel chemotherapeutic agents for the treatment of cancer, and she
received her B.S. in biology from the University of South Carolina.
She completed her postdoctoral work at Northwestern University
Medical School and Yale University School of Medicine.
“Since my academic career, I have maintained a focus in
oncology, and I am thrilled to bring this passion to Galena as a
member of the Board of Directors. As a long-term shareholder
in the Company, I have believed in NeuVax for over seven years and
have closely monitored its development from an early stage asset to
its now significantly expanded portfolio of clinical trials.
I am grateful for this opportunity to join the company at this
critical time as NeuVax is approaching its pivotal endpoint,” added
Mary Ann Gray, Ph.D.
“In addition to her work experience, Dr. Gray has played
critical roles on the audit and compensation committees of the
public biotechnology boards on which she serves. We welcome
her broad array of skill sets to enrich the knowledge and depth of
our board,” concluded Sanford J. Hillsberg, Chairman of the Board,
Galena Biopharma.
About NeuVax™ (nelipepimut-S)
NeuVax™ (nelipepimut-S) is a first-in-class, HER2-directed
cancer immunotherapy under evaluation to prevent breast cancer
recurrence after standard of care treatment in the adjuvant
setting. It is the immunodominant peptide derived from the
extracellular domain of the HER2 protein, a well-established target
for therapeutic intervention in breast carcinoma. The nelipepimut-S
sequence stimulates specific CD8+ cytotoxic T lymphocytes (CTLs)
following binding to specific HLA molecules on antigen presenting
cells (APC). These activated specific CTLs recognize, neutralize
and destroy, through cell lysis, HER2 expressing cancer cells,
including occult cancer cells and micrometastatic foci. The
nelipepimut-S immune response can also generate CTLs to other
immunogenic peptides through inter- and intra-antigenic epitope
spreading.
NeuVax is currently in an international, Phase 3 PRESENT
(Prevention of Recurrence in
Early-Stage, Node-Positive Breast
Cancer with Low to Intermediate HER2 Expression
with NeuVax Treatment) study
under a Special Protocol Assessment (SPA) granted by the U.S. Food
and Drug Administration (FDA). PRESENT is targeting node positive
HER2 IHC 1+/2+ patients (clinicaltrials.gov identifier:
NCT01479244). Galena has two additional breast cancer studies
ongoing with NeuVax in combination with trastuzumab (Herceptin®;
Genentech/Roche): a Phase 2b trial in node positive and triple
negative HER2 IHC 1+/2+ (clinicaltrials.gov identifier:
NCT01570036); and, a Phase 2 trial in high risk, node positive or
negative HER2 IHC 3+ patients (clinicaltrials.gov identifier:
NCT02297698). Phase 2 clinical trials with NeuVax are also
planned in patients with ductal carcinoma in situ (DCIS), and in
patients with gastric cancer.
About Galena Biopharma
Galena Biopharma, Inc. is a biopharmaceutical company committed
to the development and commercialization of targeted oncology
therapeutics that address major unmet medical needs. Galena’s
development portfolio is focused primarily on addressing the
rapidly growing patient populations of cancer survivors by
harnessing the power of the immune system to prevent cancer
recurrence. The Company’s pipeline consists of multiple mid- to
late-stage clinical assets, including novel cancer immunotherapy
programs led by NeuVax™ (nelipepimut-S) and GALE-301. NeuVax
is currently in a pivotal, Phase 3 breast cancer clinical trial
with several concurrent Phase 2 trials ongoing both as a single
agent and in combination with other therapies. GALE-301 is in a
Phase 2a clinical trial in ovarian and endometrial cancers and in a
Phase 1b given sequentially with GALE-302. For more
information, visit www.galenabiopharma.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 progress of the development of Galena’s
product candidates, patient enrollment in our clinical trials, as
well as other statements related to the progress and timing of our
development activities, present or future licensing, collaborative
or financing arrangements, expected outcomes with regulatory
agencies, and projected market opportunities for product candidates
or that otherwise relate to future periods. 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,
2015 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.
NeuVax is a trademark of Galena Biopharma, Inc.
Contact:
Remy Bernarda
SVP, Investor Relations & Corporate Communications
(925) 498-7709
ir@galenabiopharma.com
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