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Peregrine Pharmaceuticals Awarded Second Broad U.S. Patent for Anti-Viral Applications of Phospholipid-Targeting Antibodies
Date:11/4/2009

bavituximab and similar antibodies are in preclinical development for the treatment of viral hemorrhagic fevers under a contract worth up to $44.4 million. Peregrine's work on viral hemorrhagic fevers is completely funded by the TMTI under contract HDTRA1-08-C-0003.

This new patent was granted to The University of Texas System and is exclusively licensed to Peregrine Pharmaceuticals.

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®. 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 predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that the Company will not receive the full $44.4 million awarded under the TMTI program, the risk that bavituximab will not achieve broad-spectrum anti-viral effects and the risk that PS-targeting antibodies will not be less susceptible to viral mutations. It is important to note that the company's actual results could differ materially from those in any such f
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SOURCE Peregrine Pharmaceuticals, Inc.
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