Talon Therapeutics Announces Review of Strategic Alternatives
Goldman Sachs Engaged as Financial Advisor
SOUTH SAN FRANCISCO, Calif., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Talon Therapeutics (OTCBB:TLON), a biopharmaceutical company focused on expert and efficient clinical development of product candidates targeting hematologic malignancies and solid tumors, as well as a product candidate for the treatment-limiting skin toxicities of the EGFR-inhibitor class of cancer therapeutics, today announced that the Board has authorized a review of strategic alternatives. Goldman Sachs has been engaged to provide financial advisory services. The review of strategic alternatives may lead to a possible transaction, including the merger, business combination, or sale of the company.
No decision has been made to enter into a transaction at this time, and there can be no assurance that Talon will enter into a transaction in the future. The company does not plan to disclose or comment on developments regarding the strategic review process until further disclosure is deemed appropriate.
About Talon Therapeutics
Talon Therapeutics, Inc. is a biopharmaceutical company dedicated to seizing upon medical opportunities, efficiently and expertly leading product candidates through clinical development, and transferring value to patients, patient care providers, shareholders, corporate partners, and employees.
In addition to Marqibo(R) (vincCRIStine sulfate LIPOSOME injection) which received accelerated approval from the US FDA in August 2012, Talon has additional pipeline opportunities some of which, like Marqibo, have the potential to improve delivery and enhance the therapeutic benefits of well characterized, proven chemotherapies and enable high potency dosing without increased toxicity.
Additional information on Talon Therapeutics can be found at www.talontx.com.
The Talon Therapeutics, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3290
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are often, but not always, made through the
use of words or phrases such as "anticipates," "expects," "plans,"
"believes,"
"intends," and similar words or phrases. These forward-looking
statements include without limitation, statements regarding Talon's
ability to complete any strategic transaction. Such statements
involve risks and uncertainties that could cause Talon's actual
results to differ materially from the anticipated results and
expectations expressed in these forward-looking statements. These
statements are based on current expectations, forecasts and
assumptions that are subject to risks and uncertainties, which
could cause actual outcomes and results to differ materially from
these statements. Such risks and uncertainties include: the
likelihood of completing a strategic transaction; Talon's lack of
experience commercializing pharmaceutical products; that Talon will
be able to secure the additional capital necessary to fund
operational activities for Marqibo, including its ongoing research
and development programs to completion; Talon's reliance on
third-party clinical research organizations to develop its product
candidates, and its lack of experience in developing pharmaceutical
products. Additional risks are described in the company's Annual
Report on Form 10-K for the year ended December 31,
2011 and its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2012. Talon assumes no obligation to update these
statements, except as required by law.
CONTACT: Corporate
Talon Therapeutics, Inc.
Investor Relations Team
(650) 588-6641
investor.relations@talontx.com
Posted: January 2013
