Cancer researcher to serve as Peregrine Pharmaceuticals' clinical advisor for bavituximab cancer program

Peregrine Pharmaceuticals, Inc. (Nasdaq: PPHM), today announced that noted cancer researcher Bruce Chabner, M.D., will serve as a clinical advisor to the company on the design of clinical trials for the bavituximab cancer program. Dr. Chabner is currently the clinical director of Massachusetts General Hospital (MGH) Cancer Center, chief of hematology and oncology at MGH and a professor of medicine at Harvard Medical School. Before coming to MGH, Dr. Chabner had a distinguished 25-year career at the National Cancer Institute (NCI), including serving as scientific director and director of the Division of Cancer Treatment. He has received numerous honors and awards, including the U.S. Public Health Service's Distinguished Service Award for his leadership in the development and approval of paclitaxel (Taxol(R)), a mainstay of current cancer therapy.

Dr. Chabner joins a group of advisors that have been assisting Peregrine in planning for the next stage of clinical trials for its bavituximab and Cotara(R) cancer programs. Bavituximab is currently being evaluated in three Phase II clinical trials in patients with advanced breast and lung cancer. Encouraging preliminary data from ongoing bavituximab clinical trials was presented at the 2009 Annual Meeting of the American Society of Clinical Oncology.

"Bavituximab's novel mechanism that enables the patient's immune system to attack tumors more effectively combined with its natural synergy with chemotherapy make it an intriguing and promising new approach to treating solid tumors," said Dr. Chabner. "The early clinical data on bavituximab is encouraging and I look forward to assisting Peregrine as they advance the bavituximab cancer program into later-stage trials in a number of indications."

Dr. Chabner has contributed to important advances in cancer drug research and clinical trial design during a distinguished career that spans four decades. Dr. Chabner is a member of the National Cancer Advisory Board and is editor-in-chief of the journal The Oncologist. He graduated with honors from Yale College and received his M.D. degree from Harvard Medical School.

"The increased attention bavituximab and Cotara have been receiving from oncology researchers is exemplified by the fact that Dr. Chabner, globally recognized as a leading cancer researcher and key opinion leader, has chosen to become actively involved in helping to guide our clinical programs," said Steven W. King, president and CEO of Peregrine. "We believe Dr. Chabner's contributions will be very valuable as we design the next set of bavituximab clinical studies that are critical to advance the program through later-stage clinical trials."

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