AVI Awarded Grant From National Cancer Institute to Target Prostate Cancer with NeuGene Antisense Drugs
PORTLAND, Ore. - Jan. 31, 2003 - AVI BioPharma Inc. (Nasdaq: AVII, AVIIW, AVIIZ), today announced that it had received a $250,000 grant from the National Cancer Institute to target prostate cancer using its proprietary NeuGene® antisense drugs. AVI senior scientist Gayathri R. Devi, Ph.D., who heads AVI's cancer and endocrine research effort, will serve as principal investigator and will collaborate with scientists from Harvard Medical School in Boston. The one-year grant is eligible for continued renewal for up to four years.
Prostate cancer is the second-leading cause of cancer death for men in the United States. It is highly dependent on androgen stimulation and is mediated through the androgen receptor for growth and proliferation. For individuals with advanced prostate cancer, androgen ablation remains the most common treatment. Nonetheless, almost all male prostate cancer patients progress to androgen-independent prostate cancer while on hormonal therapy.
NeuGene antisense drugs have been shown to inhibit the stimulation of the androgen receptor in androgen-independent prostate cancer models, thus preventing the growth of prostate cancer while reducing prostate-specific antigen (PSA) levels. Through this grant, AVI will finish preclinical development for its antisense drug targeting the androgen receptor and move into Phase I clinical testing.
"We are excited that the National Cancer Institute recognizes the promise of AVI's antisense approach to treating prostate cancer," Devi said. "With the assistance of our collaborators, we have successfully completed a significant amount of preclinical development on this drug and expect to move into clinical testing when the pharmacokinetic studies and manufacturing processes are completed."
About AVI BioPharma
AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using two technology platforms: NeuGene antisense drugs and cancer immunotherapy. Its lead cancer agent, AVICINE®, a therapeutic cancer vaccine, has completed three Phase II trials in colorectal and pancreatic cancer and is initiating a Phase III pivotal trial in pancreatic cancer, with a supporting study in colorectal cancer. The first application of its NeuGene compounds, Resten-NG™, is designed to treat cancer, cardiovascular restenosis and other cell proliferation disorders by inhibiting the production of a cellular transcription factor, the oncogene c-myc. It is currently in Phase II trials for restenosis and in a Phase I/II trial for cancer. AVI has completed three Phase I NeuGene antisense studies that successfully down-regulated the liver enzyme cytochrome P450 and modified drug metabolism, and a Phase I/II trial in polycystic kidney disease. More information about AVI is available on the Company's Web site at http://www.avibio.com/.
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