Thursday, June 29, 2017 2:14:55 PM
Peregrine Pharmaceuticals Comments on Lawsuit
TUSTIN, Calif., March 30 /PRNewswire-FirstCall/ -- Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), a clinical stage biopharmaceutical company developing targeted therapeutics for the treatment of cancer and hepatitis C virus (HCV) infection, today commented on a cross-complaint filed by Cancer Therapeutics Laboratories Inc. (CTL) and discussed in a press release issued yesterday by CTL.
Peregrine had previously filed a lawsuit against CTL on January 12, 2007 alleging various breaches of contract in relation to a license agreement between the two companies that granted CTL certain rights to Peregrine's tumor necrosis therapy (TNT) technology for development and commercialization in China. The lawsuit followed repeated attempts by Peregrine over a number of years to obtain adequate information concerning a purported agreement that CTL made with MediPharm Biotech Pharmaceutical Co., Ltd and/or Shanghai MediPharm Biotech Co., Ltd. (MediPharm), a company that has now launched Peregrine's proprietary TNT-based product in China for the treatment of lung cancer.
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