Talon Therapeutics Appoints Elizabeth Weatherman to Board of Directors

Fri Jan 4, 2013 9:00am EST

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SOUTH SAN FRANCISCO, Calif., Jan. 4, 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 the appointment of Elizabeth (Bess) Weatherman to the Company's Board of Directors. Ms.
Weatherman is a Managing Director of Warburg Pincus and leads the firm's investment activity in
the healthcare sector. Warburg Pincus is the majority shareholder of Talon.

The Company also announced the resignation from the Board of Jonathan Leff, formerly a Managing
Director at Warburg Pincus. Mr. Leff left Warburg Pincus to join Deerfield Management, Talon's
second largest investor.

"We are delighted to welcome Bess to our Board of Directors during this critical stage in the
Company's evolution. With more than 20 years investing and advising in the healthcare sector, Bess
brings superior strategic insight and extensive industry relationships to the Board. With the
accelerated approval of Marqibo, the Company is now addressing important strategic
commercialization choices and Bess will play a key role in guiding the Company's decisions,"
stated Leon Rosenberg M.D. and Chairman of the Board of Directors of Talon Therapeutics.

Steven Deitcher M.D., President, CEO and Board Member of Talon Therapeutics added, "We also want
to thank Jonathan Leff for his excellent service on the Talon Board and wish him well at
Deerfield."

"I am pleased to join Talon's Board of Directors," stated Ms. Weatherman. "Marqibo's approved
indication addresses an important, underserved hematologic malignancy. I look forward to working
closely with Talon's Board and management team."

Ms. Weatherman joined Warburg Pincus in 1988 and leads the firm's investment activities in the
healthcare sector, an area in which she helped build the firm's domain expertise. Ms. Weatherman
also serves on the board of directors of Bausch & Lomb, Constitution Medical, International
Technidyne Corp., JHP Pharmaceuticals, ReSearch Pharmaceutical Services, Silk Road Medical, and
Tornier. Ms. Weatherman received a B.A. summa cum laude in English from Mount Holyoke College and
holds an M.B.A. from the Stanford Graduate School of Business.

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, 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
http://www.globenewswire.com/newsroom/ctr?d=10017002&l=10&a=www.talontx.com&u=http%3A%2F%2Fwww.talontx.com%2F
.

The Talon Therapeutics, Inc. logo is available at
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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 commercialization strategies for Marqibo. 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: Talon's lack of experience commercializing pharmaceutical
products; that Talon will be able to secure the additional capital necessary to fund
commercialization activities for Marqibo, as well as its ongoing research and development programs
to completion; Talon's reliance on third-party researchers 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
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