Date:11/24/2008

ainst hemorrhagic fever viruses was originally funded by a grant from the National Institutes of Allergy and Infectious Diseases (NIAID). The results discussed in today's study contributed in part to the June 2008 receipt by Peregrine of an award from the biodefense program of the DTRA, an agency of the U.S. Department of Defense, potentially worth up to $44.4 million over five years for the development of bavituximab and similar PS-targeting antibodies as potential therapies against hemorrhagic fever viruses.

The studies reported today were conducted by Drs. Melina Soares and Philip Thorpe and colleagues at UT Southwestern Medical Center and are published in the November 23, 2008 on-line edition and December 2008 published edition of Nature Medicine. For more information, visit http://www.nature.com/nm/index.html

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and serious virus infections. The company is pursuing three separate clinical programs in cancer and HCV infection with its lead product candidates bavituximab and Cotara(R). Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and bio-manufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

Safe Harbor Statement: Statements in this press release which are not purely historical, including statements regarding Peregrine Pharmaceuticals' intentions, hopes, beliefs, expectations, representations, projections, plans or p
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SOURCE Peregrine Pharmaceuticals, Inc. Copyright©2008 PR Newswire. All rights reserved

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