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Peregrine Pharmaceuticals Forms Anti-Viral Research Group to Oversee Its Anti-PS Infectious Disease Collaborations
Date:10/7/2009

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Bavituximab is also being tested in Phase II clinical trials for the treatment of advanced breast cancer and non-small cell lung cancer.

Peregrine's work on viral hemorrhagic fevers is funded by the Transformational Medical Technologies Initiative (TMTI) under contract HDTRA1-08-C-0003.

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 forward-looking statements. Factors that could cause actual results to differ
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SOURCE Peregrine Pharmaceuticals, Inc.
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