Re: Farmas USA
GALE
Sociedad con Reddy para la venta de NeuVax en India. +6,22 en pre.
Galena Biopharma and Dr. Reddy's Announce Strategic Partnership for NeuVax(TM) in India
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
PORTLAND, Ore. and HYDERABAD, India, Jan. 14, 2014 (GLOBE NEWSWIRE) -- Galena Biopharma (Nasdaq:GALE) and Dr. Reddy's Laboratories Ltd. (NYSE:RDY) today announced a strategic development and commercialization partnership on NeuVax™ (nelipepimut-S) in India.
Galena Biopharma is a biopharmaceutical company commercializing and developing innovative, targeted oncology treatments that address major unmet medical needs to advance cancer care. Dr. Reddy's is an integrated global pharmaceutical company, committed to providing affordable and innovative medicines for healthier lives.
"This partnership with Dr. Reddy's is consistent with our strategy to expand the clinical utility of NeuVax in unmet medical needs while simultaneously increasing the commercial footprint of this innovative cancer immunotherapy," said Mark J. Ahn, Ph.D., President and CEO of Galena Biopharma. "Dr. Reddy's is a leading pharmaceutical company in India with significant commercialization and development expertise. The gastric cancer trial will add a significant indication to our pipeline for NeuVax, while doubling our potential patient population if approved."
G V Prasad, Chairman and CEO, Dr. Reddy's commented, "The partnership accelerates our strong commitment to innovation and efforts to bring newer options for cancer patients. We are delighted with our partnership with Galena Biopharma and we believe NeuVax can be a good potential treatment option to prevent the recurrence of breast and gastric cancer."
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