AVI BioPharma to Testify Before Congressional Committee On Legislative Proposal for BioShield II
PORTLAND, Ore. — Oct. 6, 2004 — AVI BioPharma, Inc. (Nasdaq: AVII), today announced that Alan P. Timmins, AVI’s president and COO, will testify in a joint hearing before the U.S. Senate Committee on Health, Education, Labor and Pensions and the U.S. Senate Committee on the Judiciary. The committee hearing will focus on the role of government in sponsoring drug development efforts to combat bioterrorism.
"There is perhaps no greater threat than that of a bioterror assault," Timmins said. "I’m grateful to the committee for offering me the opportunity to discuss how AVI’s technology may be used to combat known bioterror agents. The speed of our drug development platform and specificity of our technology sets us apart in an area where rapid response is vital to saving human lives."
AVI is currently collaborating with the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID) in testing its NeuGene® compounds against several viruses, including Ebola and Marburg, as well as lethal toxins, such as those from anthrax and ricin. Timmins will speak about his company’s approach to combating bioterror agents, and will also address the potential impact of government incentives for motivating biotechnology companies to develop their technologies in the fight against bioterrorism.
Titled "BioShield II: Responding to an Ever-Changing Threat," the joint committee hearing will discuss proposed legislation, sponsored by Sen. Joseph Lieberman and Sen. Orrin Hatch, that would supplement Project BioShield, the $5.6 billion, 10-year BioShield program introduced by President Bush in early 2004. The goal of BioShield II is to engage successful biopharma companies in developing drugs and vaccines to treat and prevent diseases resulting from bioterror pathogens. The hearing is scheduled for Wednesday, Oct. 6, at 10 a.m. EDT in room SH-216 of the Hart Senate Office Building in Washington, D.C.
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.