updated 12/1/2010 10:16:43 AM ET 2010-12-01T15:16:43

SOUTH SAN FRANCISCO, Calif., Dec. 1, 2010 (GLOBE NEWSWIRE) -- Hana Biosciences (OTCBB:HNAB), a biopharmaceutical company focused on strengthening the foundation of cancer care, announced that its board of directors has approved changing its name to Talon Therapeutics, Inc. The name change will become effective on Thursday, December 2, 2010.

"The change in corporate name from Hana Biosciences to Talon Therapeutics reflects the Company's culture of 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," stated Steven R. Deitcher M.D. President and Chief Executive Officer of Hana Biosciences. "Other than the name change, there is no fundamental change to the Company. Marqibo® is our lead product candidate and we anticipate submitting our NDA to the FDA during the first half of 2011."

The Company's ticker symbol on the OTC Bulletin Board will be TLON.OB effective at the commencement of trading on December 2, 2010. The Company's new corporate website is www.talontx.com .

About Marqibo(R) (vincristine sulfate liposomes injection)

Marqibo is a novel, targeted, Optisome(TM) encapsulated formulation of vincristine sulfate, a widely-used chemotherapy, which has shown promising anti-cancer activity in patients with ALL, non-Hodgkin's lymphoma, Hodgkin's disease, and melanoma in several clinical trials. Marqibo is designed to enhance the penetration and concentration of vincristine sulfate at sites of active cancer and facilitate dose-intensification compared to standard vincristine formulations. Unlike standard vincristine, Marqibo is dosed based on actual patient body surface area without the need for dose capping.

The Company has received orphan drug and fast track designations for Marqibo for the treatment of adult ALL from the U.S. Food and Drug Administration. Marqibo has also received orphan drug designation in adult ALL from the European Medicines Evaluation Agency.

About Us                                                              

We are a biopharmaceutical company dedicated to developing and commercializing new, differentiated cancer therapies designed to improve and enable current standards of care. The company's lead product candidate, Marqibo, potentially treats acute lymphoblastic leukemia and lymphomas. The Company has additional pipeline opportunities some of which, like Marqibo, improve delivery and enhance the therapeutic benefits of well characterized, proven chemotherapies and enable high potency dosing without increased toxicity.

The Hana Biosciences, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3290

Forward-Looking Statement

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 the clinical development of Marqibo, the potential of Marqibo to replace existing therapies and the expected benefits Marqibo may have for patients with relapsed ALL and other diseases compared to existing therapies, and the timing for NDA submission. Such statements involve risks and uncertainties that could cause the Company'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.

CONTACT:  Hana Biosciences, Inc.
          Investor & Media Contacts:
          Investor Relations Team
          (650) 588-6641
          investor.relations@hanabiosciences.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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