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PPHM is holding up real good from last week:

(COMTEX) B: Peregrine Pharmaceuticals Presents Data at 7th International S
mposium on Anti-Angiogenic Agents Human 2C3 Equivalen
B: Peregrine Pharmaceuticals Presents Data at 7th International Symposium on Ant
-Angiogenic Agents Human 2C3 Equivalents Presented at Conference ( PRNewswire-Fi
stCall )

TUSTIN, Calif., Feb 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- Peregrine
Pharmaceuticals, Inc. (Nasdaq: PPHM) announced today that data relating to the
production and characterization of human antibody versions of its 2C3 antibody
was presented at the 7th International Symposium on Anti-Angiogenic Agents held
in La Jolla, CA.

The 2C3 antibody is a mouse antibody that selectively blocks certain activities
of the blood vessel growth factor known as Vascular Endothelial Growth Factor
(VEGF). VEGF has been implicated as a key factor in the development of a variety
of different diseases including cancer and various ocular disorders. The human
antibodies are intended to be used in Peregrine's Vascular Targeting Agent (VTA)
and anti-angiogenesis programs.

"The successful generation of these human antibodies is a key milestone in the
continued development of our pre-clinical pipeline of products," said Steven
King, Peregrine's president and CEO. "Having these human 2C3 equivalent
antibodies should expedite the identification of clinical candidates based on
this targeting platform."

In pre-clinical studies, 2C3 has shown potent anti-tumor activity in a variety
of different solid tumors including an 85% reduction in blood vessel formation
in breast cancer metastases. Affitech AS of Oslo, Norway generated the human 2C3
equivalent antibodies in collaboration with Peregrine.

About Peregrine Pharmaceuticals

Peregrine Pharmaceuticals (Peregrine) is a biopharmaceutical company primarily
engaged in the research, development, manufacture and commercialization of
cancer therapeutics and diagnostics through a series of proprietary platform
technologies. The company is primarily focused on discovering and developing
products that affect blood vessels and blood flow in cancer and other diseases.
Peregrine's vascular research programs fall under several different proprietary
platforms, including Anti-Phospholipid Therapy (APT), Vascular Targeting Agents
(VTAs), Anti-Angiogenesis and Vasopermeation Enhancement Agents (VEAs).

Peregrine recently received approval from the FDA for its Tarvacin(TM) Phase I
study for the treatment of cancer. Tarvacin, a novel anti-cancer agent, is part
of Peregrine's Anti-Phospholipid Therapy (APT) platform, which binds directly to
tumor blood vessels to inhibit tumor growth and development. The company plans
on initiating the approved Phase I study in the near term.

Peregrine's most clinically advanced therapeutic program is known as Tumor
Necrosis Therapy (TNT) and targets dead or dying tumor cells that are common to
the majority of different tumor types. The company is developing a radioactive
TNT agent that it has trademarked Cotara(R) for the treatment of cancer. The
company is working with New Approaches to Brain Tumor Therapy (NABTT) Consortium
to initiate the first part of Peregrine's U.S. Food and Drug Administration
(FDA)-approved product registration trial using Cotara(R) to treat patients with
brain cancer. Peregrine has also completed enrollment in a Phase I Cotara(R)
clinical trial for the treatment of colorectal carcinoma at Stanford University
Medical Center and is working closely with scientific advisors to design Phase
II studies using Cotara(R) for other solid tumor indications. In addition, a
TNT-based agent similar to Cotara(R) was developed under a licensing agreement
in China and has received marketing approval for the treatment of advanced lung
cancer.

The company's wholly owned subsidiary, Avid Bioservices, Inc. (
http://www.avidbio.com ), develops and manufactures monoclonal antibodies and
recombinant proteins to support Phase I through Phase III clinical trials for
biotechnology companies, including Peregrine.

Copies of Peregrine press releases, SEC filings, current price quotes and other
valuable information for investors may be found at http://www.peregrineinc.com .

Safe Harbor Statement: This release may contain certain forward-looking
statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Except for historical information
presented herein, matters discussed in this release contain certain forward-
looking statements. The inclusion of forward-looking statements should not be
regarded as a representation by us, or any other person, that the objectives or
plans will be achieved. The words "may," "should," "plans," "believe,"
"anticipate," "estimate," "expect," their opposites and similar expressions are
intended to identify forward-looking statements. We caution readers that such
statements are not guarantees of future performance or events and are subject to
a number of factors that may tend to influence the accuracy of the statements,
including but not limited to, risk factors discussed in Peregrine's report on
Form 10-K for the year ended April 30, 2004 and subsequent quarterly reports on
Form 10-Q. Peregrine disclaims any obligation and does not undertake to update
or revise the forward-looking statements discussed in this press release.


Investor Inquiries
Hawk Associates, Inc.
Frank Hawkins and Julie Marshall
[phone] or
[e-mail]

Media Inquiries
Lorie Fiber
Edelman
[phone]/310-383-6583 (cell)
[e-mail]

SOURCE Peregrine Pharmaceuticals, Inc.


CONTACT: Investors, Frank Hawkins or Julie Marshall, both of Hawk Asso
iates, Inc.,
[phone] or [e-mail], or Media, Lorie F
ber, Edelman,
[phone], or cell, [phone], or lorie.fiber@ede
man.com, all for
Peregrine Pharmaceuticals, Inc.

URL: http://www.prnewswire.com
http://www.peregrineinc.com
http://www.avidbio.com
www.prnewswire.com

Copyright (C) 2005 PR Newswire. All rights reserved.

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KEYWORD: California
INDUSTRY KEYWORD: HEA
MTC
SUBJECT CODE: TDS
SVY

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