AVI BioPharma Announces NeuGene Antisense Collaboration With the Walter Reed Army Institute of Research
PORTLAND, Ore. — Dec. 21, 2004 — AVI BioPharma, Inc. (Nasdaq: AVII), today announced it will be conducting collaborative research with the Walter Reed Army Institute of Research (WRAIR). The research, examining the effect of AVI’s antisense agents against dengue and other flavivirus infections, is part of a Cooperative Research and Development Agreement (CRADA) established with WRAIR as part of AVI’s ongoing efforts in biodefense with the Chemical and Biological Defense Program of the Office of the Secretary of Defense.
"Our previous work with the Department of Defense and its experience with our NeuGene® technology led to the establishment of this formal relationship to pursue testing of our compounds against additional infectious agents," said Patrick L. Iversen, Ph.D., senior vice president of research and development at AVI. "We look forward to this collaboration, as it gives us yet another opportunity to expand the scope of application for our antisense technology."
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.