Avid Bioservices Announces Manufacturing Supply Agreement for the Production of a Therapeutic Monoclonal Antibody Intended for Phase III Clinical Trials.Business Editors/Health & Medical Writers BIOWIRE2K TUSTIN, Calif.--(BW HealthWire)--March 13, 2002 Avid Bioservices, Inc. (Avid), a wholly-owned subsidiary of Peregrine Pharmaceuticals (Nasdaq: PPHM PPHM Peregrine Pharmaceuticals, Inc (stock symbol) pphm Parts Per Hundred Million ), today announced that it has signed a manufacturing supply agreement with a biotechnology company for the current Good Manufacturing Practices (cGMP) production of a monoclonal antibody monoclonal antibody, an antibody that is mass produced in the laboratory from a single clone and that recognizes only one antigen. Monoclonal antibodies are typically made by fusing a normally short-lived, antibody-producing B cell (see immunity) to a fast-growing anticipated to be used in an upcoming Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA clinical study. The client has requested the details of this project remain confidential. "We are very happy to be working with this company and look forward to manufacturing its promising new therapeutic compound," said Steven King Steven King is the name of:
"We expect that Avid will commence generating revenues during the ensuing quarter and will continue to generate revenues for the foreseeable future," stated Paul Lytle, Avid's chief financial officer. "These revenues will assist Avid in expanding its operations over the coming years to meet anticipated demand." The biotechnology and biopharmaceutical industries are currently facing a worldwide shortage of manufacturing facilities for monoclonal antibodies This is a list of monoclonal antibodies, antibodies which are clones of a single parent cell. When used as medications, the generic names end in -mab (see "Nomenclature of monoclonal antibodies"). and other recombinant proteins Since human recombinants have replaced the animal version in human therapeutics, the prefix of "rh" for "human recombinant" appears less and less in the literature Human recombinants that replaced animal or harvested from human types About Avid Bioservices Avid Bioservices provides a full range of cGMP manufacturing services for the biotechnology and biopharmaceutical industries. The company's comprehensive package of services includes highly specialized cell culture, process and analytical development work, in addition to full-scale manufacturing, purification, bulk packaging, and regulatory support. For more information about Avid, please visit www.avidbio.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual events or results may differ from the company's expectations as a result of risk factors discussed in Peregrine's reports on file with the U.S. Securities and Exchange Commission, including, but not limited to, the company's report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended April 30, 2001 and on Form 10-Q Form 10-Q See 10-Q. for the quarter ended October 31, 2001. |
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