Avid Bioservices Inc (CDMO)

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ANTIBODY CONTRACT MANUFACTURING FACILITIES

During January 2002, we announced the formation of Avid Bioservices, Inc. ("Avid"), a wholly owned subsidiary of Peregrine, to provide an array of contract manufacturing services, including contract manufacturing of antibodies and proteins, cell culture development, process development, and testing of biologics for biopharmaceutical and biotechnology companies under current Good Manufacturing Practices ("cGMP"). Operating a cGMP facility requires highly specialized personnel and equipment that must be maintained on a continual basis. Prior to the formation of Avid, we manufactured the Company's antibodies for over 10 years and developed the manufacturing expertise and quality systems to provide the same service to other biopharmaceutical and biotechnology companies.