Galena Biopharma, Dr. Reddy's Sign NeuVax Licensing Pact for India

Galena Biopharma (NASDAQ: GALE  ) has forged a partnership in India for its NeuVax breast cancer vaccine. The company announced that it is teaming up with Dr. Reddy's Laboratories (NYSE: RDY  ) in a strategic partnership whereby Galena will license the commercial rights for NeuVax to the latter company. Dr. Reddy's will also head the development of NeuVax to treat gastric cancer. The terms of the arrangement were not disclosed, although Galena did reveal that it will receive development and sales milestone payments, and royalties in the double digits on net sales.

In the press release heralding the news, Galena CEO Mark Ahn said that the deal "is consistent with our strategy to expand the clinical utility of NeuVax in unment medical needs while simultaneously increasing the commercial footprint of this innovative cancer immunotherapy."

Galena has been a hot stock in recent months, although that appears to have more to do with acquisitions than the performance of NeuVax. Last week, the company announced it had bought Mills Pharmaceuticals, and last March it acquired the cancer pain treatment Abstral.


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2795288, ~/Articles/ArticleHandler.aspx, 4/20/2014 3:49:26 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement