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GEN News Highlights : Dec 14, 2006

Immunocytokine Agents Target of Peregrine and Biotecnol Partnership

Companies’ technologies believed to be complementary.

Peregrine Pharmaceuticals and Biotecnol inked a collaboration for the development of targeted immunocytokine agents for the treatment of cancer and other disease indications. The collaboration will apply technology from Peregrine's Vascular Targeting Agent (VTA) platform with Biotecnol's Tribody™ technology to engineer agents that fuse Peregrine's anti-phospholipid targeting agents to one or more cytokines in a Tribody format.

"This collaboration is an important step in developing clinical candidates that capitalize on the striking results we saw in tests of our fusion protein technology in animal cancer models," says Steven W. King, president and CEO of Peregrine. "Our anti-phospholipid platform is an ideal vehicle for targeting tumor blood vessels and delivering a cytokine payload with the goal of producing a very robust immune response while reducing systemic adverse events. We believe that Biotecnol's unique Tribody technology will contribute significantly to our ability to produce fusion protein drug candidates, and we therefore expect this collaboration to further broaden the potential of our proprietary VTA and antiphospholipid platforms."

Under the collaboration, Biotecnol will engineer novel fusion proteins using one or more of Peregrine's antiphospholipid antibodies or other targeting agents. The work will be performed as part of a research and development collaboration and is expected to result in a license agreement from Biotecnol to Peregrine for development and commercialization of the resulting agent or agents.