Avid Bioservices, Inc. Receives Mutliple 2017 CMO Leadership Awards For Quality, Reliability, Capabilties, Expertise And Compatibility

TUSTIN, CA--(Marketwired - March 23, 2017) - Avid Bioservices, Inc., a wholly owned subsidiary of Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM) (NASDAQ: PPHMP), today announced that the company has been named a recipient of the 2017 Contract Manufacturing Organization (CMO) Leadership Awards. Presented by the industry publication Life Science Leader and based on market research and surveys conducted by Industry Standard Research (ISR), these awards are intended to honor those companies in the contract manufacturing space that provide their customers with the industry's highest level of service. Now in its 6th year, Life Science Leader's CMO Leadership Awards aim to provide industry insiders with accurate and reliable customer feedback to assist them in choosing a reputable partner for their development and manufacturing needs.

Avid received awards in the following categories:

• Quality
• Reliability
• Capabilities
• Expertise
• Compatibility

"We have built our contract manufacturing business based on a commitment to exceeding our customers' expectations in the areas of technical expertise, service, and reliability. It is particularly gratifying to receive these CMO Leadership Awards as the winners are specifically determined based on feedback from those customers that we are working to serve daily," said Steven W. King, president and chief executive officer of Peregrine Pharmaceuticals and Avid Bioservices. "As we continue to grow our Avid business and expand both our manufacturing capacity and portfolio of state-of-the-art capabilities, we look forward to the opportunity to deliver our award-winning services to a broader range of biopharmaceutical customers."

For more information about Life Science Leader's CMO Leadership Awards, please visit: http://cmoleadershipawards.com/.

About Avid Bioservices
Avid Bioservices provides a comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. With over 15 years of experience producing monoclonal antibodies and recombinant proteins in batch, fed-batch and perfusion modes, Avid's services include cGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory strategy, submission and support. The company also provides a variety of process development activities, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization. For more information about Avid, please visit www.avidbio.com.

About Peregrine Pharmaceuticals, Inc.
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company committed to improving the lives of patients by delivering high quality pharmaceutical products through its contract development and manufacturing organization (CDMO) services and through advancing and licensing its investigational immunotherapy and related products. Peregrine's in-house CDMO services, including cGMP manufacturing and development capabilities, are provided through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and third-party customers. The company is also working to evaluate its lead immunotherapy candidate, bavituximab, in combination with immune stimulating therapies for the treatment of various cancers, and developing its proprietary exosome technology for the detection and monitoring of cancer. For more information, please visit www.peregrineinc.com.