New Data Confirms That a Selective, Fully Human Anti-VEGF Antibody Being Developed by Peregrine is as Effective as Avastin(R) in Preclinical Can... (trategy as blocking both VEGF receptors....)

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New Data Confirms That a Selective, Fully Human Anti-VEGF Antibody Being Developed by Peregrine is as Effective as Avastin(R) in Preclinical Cancer Models

Date:11/13/2007

trategy as blocking both VEGF receptors. Most of the anti-angiogenic agents currently being developed or marketed, such as Avastin, block the activity of both VEGF receptors. The data we previously presented on 2C3, our selective anti-VEGF mouse antibody, along with the current study results demonstrate that selective inhibition of VEGFR2 alone can reduce tumor growth. They also suggest that inhibiting VEGFR1 is not necessary to effectively limit VEGF-induced angiogenesis. We look forward to further assessing R84 as a potential anti-angiogenic clinical candidate."

Peregrine in association with Affitech has filed a patent application for R84 with the United States Patent and Trademark Office to preserve the right to obtain patent protection in the United States, all member countries of the European Union and the rest of the world.

This research was supported in part by a sponsored research agreement between UT Southwestern and Peregrine Pharmaceuticals. These studies were also supported in part by Susan G. Komen for the Cure and the Department of Surgery at UT Southwestern.

Dr. Brekken's presentation, "Development of 2C3 as a Clinical Candidate for Inhibition of VEGF Activation of VEGF Receptor 2," was presented at IBC's 5th Annual International Conference on Anti-Angiogenesis at the Tremont Hotel in Boston, Mass., on November 12, 2007. The presentation was not webcast.

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 hepatitis C virus (HCV) infection. The company is pursuing three separate clinical programs in cancer and HCV infection in the U.S. and India with its lead product candidates bavituximab and Cotara(R). Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (http://www.avidbio
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