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Peregrine Pharmaceuticals, Inc. (PPHM) Studies Indicate New Therapy Reduces Tumors Up to 95% and Reduces the Metastatic Spread of Tumor Cells

Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM) announced this morning preclinical data presented at the 2008 Annual Meeting of the American Association for Cancer Research (AACR). The data shows that a mouse equivalent of Peregrine’s anti-phosphatidylserine (anti-PS) vascular targeting antibody bavituximab administered in combination with the chemotherapeutic agent docetaxel demonstrated excellent signs of efficacy in a preclinical model of hormone-refractory prostate cancer.

This new data confirms and extends the results of previous studies of Peregrine’s anti-PS antibodies in models of prostate cancer. Specifically, in the study 2aG4 administered with docetaxel reduced primary tumor burden by 95%, an anti-tumor effect that was significantly superior to that of the individual treatments administered alone. The combination of 2aG4 and docetaxel also reduced the metastatic spread of tumor cells.

“These very promising results reinforce and extend the findings of previous preclinical studies highlighting the potential of our anti-PS antibodies in combination regimens for the treatment of prostate cancer,” said Steven W. King, president and CEO of Peregrine. Prostate cancer is one of the most commonly diagnosed cancers in men, second only to lung cancer. Peregrine is currently testing this same combination regimen in a Phase II trial with patients with breast cancer.

Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with several ongoing clinical trials. Clinical programs currently in progress are for hepatitis C virus and cancer. Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc.

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