The subject invention provides Coriolus versicolor extracts, pharmaceutical compositions comprising the Coriolus versicolor extracts, methods of preparation, and therapeutic uses thereof. Advantageously, the subject Coriolus versicolor extract has immunomodulatory, anti-tumor, anti-microbial, and antiviral effects. In a preferred embodiment, the subject invention can be used to inhibit the metastatic spread of cancer cells. In certain preferred embodiments, the subject invention can be used to treat glioblastoma multiforme, nasopharyngeal carcinoma, breast carcinoma, lung carcinoma, prostate cancer, and colon carcinoma, as well as bacterial, viral, fungal, protozoan, and/or other microbial infection.