Peregrine Systems

Peregrine Pharmaceuticals, now known as Avid Bioservices, was a clinical-stage biopharmaceutical company that pioneered the development of phosphatidylserine (PS)-targeting monoclonal antibodies for oncology. The company's lead therapeutic candidate, bavituximab, was designed to block the immunosuppressive signals of PS in the tumor microenvironment, thereby enhancing the body's immune response against cancer. Despite reaching Phase 3 clinical trials for non-small cell lung cancer, the company shifted its strategic focus in 2018 to its contract development and manufacturing organization (CDMO) business. Today, the company operates as Avid Bioservices, providing dedicated biologics manufacturing services to the broader pharmaceutical industry.