AVI Biopharma, the Portland, OR-based biotech company, said it has received commitments from investors for $16.5 million in new capital. The company (NASDAQ: [[ticker:AVII]]) is selling 14.2 million shares of common stock at $1.16 a share to select institutional investors, including Eastbourne Capital Management. AVI is developing next-generation treatments that use antisense technology for gene silencing, which it says may work against deadly pathogens like the Ebola and Marburg virus.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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