Avid Bioservices Enters Into a Manufacturing and Supply Agreement With Seradyn.Business Editors & Health/Medical Writers BIOWIRE2K TUSTIN, Calif.--(BW HealthWire)--March 6, 2002 Avid Bioservices Inc. (Avid), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Peregrine Pharmaceuticals Inc. (Nasdaq:PPHM PPHM Peregrine Pharmaceuticals, Inc (stock symbol) pphm Parts Per Hundred Million ), and Seradyn Inc., a subsidiary of Apogent Technologies Inc., entered into a long-term supply agreement in which Avid will manufacture a key raw material for a therapeutic drug monitoring therapeutic drug monitoring Clinical pharmacology The regular measurement of serum levels of drugs requiring close 'titration' of doses in order to ensure that there are sufficient levels in the blood to be therapeutically effective, while avoiding potentially kit that is distributed by Seradyn, the companies announced today. Seradyn is the industry leader in the development of products used in clinical diagnostic assays, research reagents, and molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller sample preparation applications. Seradyn markets a series of therapeutic drug monitoring kits that are used to monitor the side effects Side effects Effects of a proposed project on other parts of the firm. of therapeutic drugs. Avid will supply Seradyn with the active component to be used in one of Seradyn's kits. "We are pleased Seradyn has chosen Avid as its long-term partner to supply reagents for this test kit," said Steven King, president of Avid Bioservices. "Although our main focus is manufacturing biologics for therapeutic use, we have the capability to manufacture a variety of reagents that can be used in diagnostic and monitoring kits. Interest in Avid's manufacturing services has been exceptional, and we look forward to entering into additional supply agreements in the future." 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, 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 for the year ended April 30, 2001 and on Form 10-Q for the quarter ended October 31, 2001. |
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