Peregrine Pharmaceuticals, Inc. Appoints Head of Medical Oncology as Company Advances Four Randomized Phase II Trials

TUSTIN, CA--(Marketwire - March 09, 2011) -

Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM), a clinical-stage biopharmaceutical company developing first-in-class monoclonal antibodies for the treatment of cancer and viral infections, today announced the appointment of Kerstin B. Menander, M.D., Ph.D. as head of medical oncology. During Dr. Menander’s 30-year career, she has led the clinical development of oncology programs in senior positions at Abbott Laboratories and several clinical-stage biopharmaceutical companies. She has supported 15 approvals in the U.S. and Europe including Lupron®, the leading therapy for the treatment of prostate cancer.

At Peregrine, Dr. Menander will support multiple advancing randomized Phase II trials for the company’s lead product candidate bavituximab, which is being evaluated in combination with chemotherapy for non-small cell lung cancer, pancreatic cancer, and other solid tumors as well as hepatitis C virus infection.

“Kerstin brings extensive expertise in both the strategic planning and tactical execution of clinical trials for novel oncology therapeutics,” said Joseph S. Shan, vice president of clinical and regulatory affairs at Peregrine. “Building on our prior data, we are advancing four randomized Phase II trials for bavituximab and Kerstin’s experience in successfully driving the clinical development of drugs will be critical in our efforts.”

Dr. Menander has 30 years of experience in drug development, holding senior positions in Abbott Laboratories, Syntex Laboratories, Introgen Therapeutics, Collagen Corporation, and Cell Pathways. At these companies, Dr. Menander led the clinical and regulatory strategy and development of drugs, biologics, and devices. She has led the international management of various clinical trials, which have supported 15 approvals for various indications in the U.S. and Europe. Dr. Menander earned her medical degree and Ph.D. in Histology from the University of Lund in Sweden.

“I am delighted to be a part of Peregrine’s team as we focus on advancing bavituximab’s numerous trials with a goal of developing a novel therapeutic option to treat cancer and viral infections,” said Dr. Menander. “Bavituximab’s prior clinical data and mechanism of action show broad therapeutic potential and I look forward to contributing to the clinical validation of this first-in-class targeted antibody.”

About Peregrine Pharmaceuticals
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative monoclonal antibodies in clinical trials for the treatment of cancer and serious viral infections. The company is pursuing multiple clinical programs in cancer and hepatitis C virus infection with its lead product candidate bavituximab and novel brain cancer agent Cotara®. Peregrine also has in-house cGMP manufacturing capabilities through its wholly-owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and biomanufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

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