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Peregrine Pharmaceuticals Highlights Significant Advances in the,Company's Clinical and Preclinical Cancer Programs Presented This,Week at the AACR Annual Meeting

s such as interleukin-2. They are designed to increase the uptake of cancer therapeutics at the tumor site, thereby increasing anti-tumor efficacy without having to increase the dose and risk greater toxicity. The novel R&D methods described by Peregrine scientists enabled the company to identify potential VEA clinical candidates for further evaluation in animal cancer models. * Peregrine researchers also reported on their successful efforts to develop second-generation fully humanized anti-PS antibodies for possible use in a variety of Peregrine development programs. Data assessing the fully human version of the antibody indicated that it was equivalent to the current chimeric version. Fully humanized antibodies may have advantages in some applications and also provide Peregrine with greater flexibility in designing and differentiating new drug candidates.

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 for HCV infection and a range of solid cancers 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. (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' intent
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