AVI Biopharma (NASDAQ:[[ticker:AVII]]), the Portland, OR-based developer of RNA-based therapies, said today it will receive another $3 million from Charley’s Fund to further develop an experimental drug for Duchenne Muscular Dystrophy. AVI’s contract with the foundation is now worth a total of $5 million to develop AVI-5038, with a goal of taking the drug into clinical trials. This is AVI’s second drug candidate against Duchenne Muscular Dystrophy, and is designed to affect a different genetic variation than the first, the company said.
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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