Avid Bioservices to Exhibit at the 2016 BIO International Convention

TUSTIN, CA--(Marketwired - May 31, 2016) - Avid Bioservices, Inc., a wholly owned subsidiary of Peregrine Pharmaceuticals, Inc. (NASDAQ: PPHM) (NASDAQ: PPHMP), today announced that the company will exhibit at the upcoming 2016 BIO International Convention, being held June 6-9, 2016 in San Francisco. Avid will host a corporate booth (#5562) in the conference's exhibit hall where it will showcase the company's comprehensive range of process development, high quality cGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries, and will provide a virtual tour of Peregrine's recently-commissioned 40,000 square foot state-of-the-art commercial biomanufacturing suite, which is operated by Avid.

At the 2016 BIO International Convention, the Avid team will be able to discuss the company's innovative processes for generating a broad range of biopharmaceutical product types including monoclonal antibodies, highly-glycosylated recombinant proteins and enzymes, among others. These capabilities also extend to the manufacture of biosimiliar products and are designed to support the overall ongoing growth of the company's contract manufacturing business.

The Avid team attending the BIO International Convention will include thought-leaders in the biopharmaceutical manufacturing industry, including Pete Gagnon, the company's recently appointed vice president of process sciences. As one of the biopharmaceutical manufacturing industry's leading experts and innovators in the purification of biologics, including recombinant proteins, viruses and DNA plasmids, Mr. Gagnon has more than 30 years of manufacturing experience. During his career, he has worked collaboratively with biotechnology companies around the world to develop and optimize state-of-the-art manufacturing systems, built on the latest technologies and capabilities. 

Peregrine recently announced the formal commissioning of its new state-of-the-art commercial biomanufacturing facility in Tustin, California and cGMP production is currently underway. The facility is outfitted with cutting-edge, single-use equipment to accommodate a fully disposable biomanufacturing process for late Phase III clinical and commercial production of biologics. A range of innovative features are incorporated into the new facility including monolithic modular clean room walls, dedicated support utilities for each key processing area, and the industry's most advanced single-use production systems. Uni-directional process flows separating personnel and materials provide assurance that the design meets the most stringent regulatory requirements for commercial biologics API manufacturing. 

For more information on the BIO International Convention, please visit: http://convention.bio.org/

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 developing therapeutics to stimulate the body's immune system to fight cancer. The company is focused on evaluating its lead immunotherapy candidate, bavituximab, in combination with a range of novel immuno-oncology (I-O) agents for the treatment of various cancers. One specific component of this I-O combination strategy includes a planned clinical trial of bavituximab in combination with durvalumab, AstraZeneca's investigational anti-PD-L1 immune checkpoint inhibitor, under a clinical collaboration.

In addition to its drug development programs, 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 third-party customers. For more information, please visit www.peregrineinc.com.