GALENA BIOPHARMA, INC. (NASDAQ:GALE) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On October 12, 2017, Galena Biopharma, Inc. (“Galena”) and Cardinal Health (“Cardinal”), entered into a settlement agreement and mutual release (“Agreement”) to which parties agreed to resolve all of their outstanding disputes over a product swap agreement in the following manner: (i) Galena will make a payment of $500,000 to Cardinal, (ii) Cardinal will destroy all of the pharmaceutical product Zuplenz® (ondansetron) oral soluble film that is returned as a result of the product swap agreement or any other agreement that involves Cardinal and Galena relating to product returns or product swaps for Zuplenz, and (iii) the product swap agreement will be terminated as of the effective date of the Agreement.
The preceding summary does not purport to be complete and is qualified in its entirety by reference to the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form8-K and which is incorporated herein by reference.
Item 1.01 Financial Statements and Exhibits.
ExhibitIndex
Galena Biopharma, Inc. ExhibitEX-10.1 2 gale-20171018x8kex101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1SETTLEMENT AGREEMENT AND MUTUAL RELEASE This Settlement Agreement and Mutual Release (this “Agreement”) is entered into this 25th day of September,…To view the full exhibit click here
About GALENA BIOPHARMA, INC. (NASDAQ:GALE)
Galena Biopharma, Inc. is a biopharmaceutical company. The Company focuses on developing and commercializing targeted oncology therapeutics that address unmet medical needs. The Company’s development portfolio ranges from mid- to late-stage clinical assets, including cancer immunotherapy program led by NeuVax (nelipepimut-S), GALE-301 and GALE-302. The Company’s NeuVax is in Phase III breast cancer clinical trial with several concurrent Phase II trials ongoing both as a single agent and in combination with other therapies. GALE-301 is in a Phase IIa clinical trial in ovarian and endometrial cancers and in a Phase Ib clinical trial given sequentially with GALE-302. The Company’s therapies utilize an immunodominant peptide combined with the immune adjuvant, recombinant human granulocyte macrophage-colony stimulating factor (rhGM-CSF, Leukine), and work by harnessing the patient’s own immune system to seek out and attack any residual cancer cells.