Avid Bioservices Inc (CDMO): 2-22-07 PR: TNT-based Trials initiated i...

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Thursday, 02/22/2007 10:18:40 AM

Thursday, February 22, 2007 10:18:40 AM

2-22-07 PR: TNT-based Trials initiated in Europe by ‘Licensee’

“Peregrine's Licensee Initiates Phase I Clinical Trial in Europe With Novel Tumor Necrosis Therapy Cancer Agent”
http://www.peregrineinc.com/content.php?mi=MTc=&appAction=--PRINT&Id=OTY2MTg1
TUSTIN, CA., Feb. 22 2007: Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), a biopharmaceutical company developing targeted therapeutics for the treatment of cancer and hepatitis C virus (HCV) infection, today announced that one of its licensees has initiated European clinical trials of a novel anti-cancer agent developed with technology licensed from Peregrine. The investigational drug uses Peregrine's proprietary tumor necrosis therapy (TNT) technology.

Peregrine's TNT technology platform targets the DNA that is released by the dead and dying cells found at the center of tumors. TNT-targeted therapies deliver their anti-cancer payload directly to the center of the tumor mass, thereby destroying the tumor "from the inside out," while sparing healthy tissue. Peregrine's radiolabeled TNT agent Cotara is currently in clinical trials in the U.S. and India for the treatment of glioblastoma multiforme, and a radiolabeled agent using Peregrine's TNT technology for the treatment of lung cancer was recently launched in China.

"We believe our TNT technology has considerable potential for targeting anti-cancer therapies, and we are very pleased that one of our licensees has now advanced another TNT anti-cancer agent into clinical trials," said Steven W. King, president and CEO of Peregrine. "The recent launch of a TNT lung cancer therapy by a local firm in China, our new clinical program in India assessing TNT-based Cotara for brain cancer and this clinical debut in Europe make this an exciting time for TNT-based anti-cancer programs."

The licensee initiating this new trial currently prefers to remain anonymous. Peregrine expects to receive a royalty on net sales of any TNT-targeted anti-cancer drugs eventually marketed by this licensee. Further terms of the agreement were not disclosed.

About Peregrine Pharmaceuticals:
Peregrine Pharmaceuticals, Inc. is a biopharmaceutical company with a portfolio of innovative product candidates in clinical trials for the treatment of cancer and hepatitis C virus (HCV) infection. The company is pursuing 5 separate clinical trials in cancer and HCV infection in the U.S. and India with its lead product candidates bavituximab and Cotara(R). Peregrine also has in-house manufacturing capabilities through its wholly owned subsidiary Avid Bioservices, Inc. (www.avidbio.com), which provides development and bio-manufacturing services for both Peregrine and outside customers. Additional information about Peregrine can be found at www.peregrineinc.com.

Safe Harbor *snip*
Contacts: GendeLLindheim BioCom Partners
Investors: 800-987-8256, info@peregrineinc.com
Media: Barbara Lindheim, 212-918-4650
*end*

= = = = = = = = =Background:
1-16-07: Medipharm Launches TNT in China for Lung Cancer http://tinyurl.com/ttlne
1-12-07: New China Subsidiary; Suit Filed Against Cancer Therapeutics Labs (CTL) http://tinyurl.com/y4vzbj
”The new subsidiary, Peregrine Beijing Pharmaceuticals Technology Development Ltd., is located in Beijing.”
10-12-06 Cotara/Brain 40-patient Ph.II Trial to begin in India: http://tinyurl.com/ybf5u2
6-16-06 update: The Jerod Swan Cotara/Brain Success Story (8 years): http://tinyurl.com/p4pgr
6-16-06 update: The Freddie Sanford Cotara/Brain Success Story (6 years): http://tinyurl.com/lrbnf
6-2006 $91k contract to BRIT/India to radio-label TNT (future Cotara trial(s) in India?): http://tinyurl.com/2r7jaf
5-2006: UAB's Dr. Louis Nabors gets $185k contract w/PPHM to study Cotara/GMB http://tinyurl.com/zx8bs
8-29-05: NABTT Initiates Cotara Brain Cancer Trial (28 patients/4 sites): http://tinyurl.com/9w3cr
NABTT Trial info: http://www.nabtt.org/protocols.htm#D NCI: http://www.clinicaltrials.gov/ct/show/NCT00128635
6-1-05: Cotara w/CED Brain Delivery pub. in Neurosurgery Jrnl: http://tinyurl.com/anmaa
”Cotara Holds Promise for Treating Brain Cancer - P1/P2 Data Suggests Extended Survival in a Number of Patients"
6-19-02: TNT Interim Lung Data from China: http://tinyurl.com/ggcba & http://tinyurl.com/em6da

...Possibly related to (??):

Merck KGaA (Germany) 10-2000: TNT “Cytokine Fusion Proteins” licensing agreement - $350k upfront plus future milestone payments and royalties on net sales.
10-31-05 10Q: “In January 2005, we entered into an agreement with Merck KGaA of Darmstadt, Germany, that will give us access to Merck's technology and expertise in protein expression to advance the development of our VEA technology and other platform technologies. Merck KGaA is presently working on a clinical candidate under the VEA technology platform.”
Interesting note: Merch/KGaA vs. Merck & Co. the similarities in the names of the two companies are a result of common roots in Germany, beginning with the purchase of the pharmacy Engel-Apotheke in Darmstadt in 1668 by Friedrich Jacob Merck. The American subsidiary Merck & Co. was founded in 1891 in the course of expansion. In 1917 Merck & Co. became an independent company with no relations to Merck KGaA.
http://www.merck.de/servlet/PB/menu/1006960/index.html