AVI BioPharma Announces NeuGene Antisense Collaboration With USAMRIID on Biodefense Agents
Company Will Provide NeuGeneS for Testing Against Anthrax, Ebola, Marburg And Pox Viruses
PORTLAND, Ore. — Aug. 10, 2004 — AVI BioPharma, Inc. (Nasdaq: AVII), today announced it has signed a Cooperative Research and Development Agreement (CRADA) with the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID). The five-year agreement provides for testing of AVI’s NeuGene® antisense therapeutics against several viruses, bacteria and toxins that may be used as bioterror agents.
"Our previous work with USAMRIID and their experience with our NeuGene compounds led to establishing this formal CRADA relationship to pursue testing and development of our antisense technology against a broad range of potential biodefense infections," said Patrick L. Iversen, Ph.D., senior vice president of research and development at AVI. "Our programs will benefit greatly from USAMRIID researchers’ experience with these bioterror agents, and working with USAMRIID will strengthen our pursuit of effective therapeutics in this area."
AVI believes its NeuGene antisense "rapid response therapeutics" have a significant role to play in the future of antiviral therapeutics. NeuGeneS are synthetic compounds that mirror a critical portion of a disease-causing organism’s genetic code and bind to specific portions of the target genetic sequence. Like a key in a lock, NeuGene antisense compounds are designed to match up precisely with a specific gene or viral sequence, blocking the function of the target gene or virus.
About AVI BioPharma
AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using two technology platforms: third-generation NeuGene antisense drugs and cancer immunotherapy. AVI’s lead NeuGene antisense compound is designed to target cell proliferation disorders, including cardiovascular restenosis, cancer and polycystic kidney disease. In addition to targeting specific genes in the body, AVI’s antiviral program uses NeuGene antisense compounds to target single-stranded RNA viruses, including West Nile virus, SARS coronavirus, hepatitis C virus, and dengue virus. AVI’s second technology, Avicine®, is a therapeutic cancer vaccine with late-stage trials planned for the treatment of pancreatic cancer. More information about AVI is available on the company’s web site at http://www.avibio.com/.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA and other agencies, the impact of competitive products, product development, commercialization and technological difficulties, and other risks detailed in the company’s Securities and Exchange Commission filings.