AVI BioPharma Announces New Board Member Appointments
PORTLAND, Ore. — March 8, 2005 — AVI BioPharma, Inc. (Nasdaq: AVII), today announced several changes to its board of directors and scientific advisory board (SAB).
K. Michael Forrest, a 35-year veteran of the medical and biotechnology industries, will serve an initial term on AVI’s board of directors, ending in 2006. Forrest will fill the unexpired term of Raymond Ruddon, M.D., Ph.D., who will transition to AVI’s SAB.
Forrest previously served as president and chief executive officer for three biotechnology firms, most recently with Cellegy Pharmaceuticals, Inc. Before working at Cellegy, Forrest spent more than 20 years in positions of increasing responsibility with American Cyanamid Co. and Pfizer Inc.
“We are fortunate to attract to the board someone with such an extensive background in the pharmaceutical and biotechnology industries as Mike Forrest,” said Denis R. Burger, Ph.D., chief executive officer at AVI. “Mike’s addition, coupled with the retention of Dr. Ruddon’s scientific acumen on our scientific advisory board, with its less demanding time commitments and travel schedules, will serve us well as we advance our research, clinical and partnering opportunities over the coming months.”
In addition to the transition of Ruddon to its SAB, AVI announced the SAB appointment of Michael J. Buchmeier, Ph.D., professor of neuropharmacology in the Division of Virology at The Scripps Research Institute. Buchmeier’s research emphasizes molecular mechanisms underlying the pathogenesis of new and emerging viral infections. His recent work includes efforts surrounding the SARS coronavirus.
“Dr. Buchmeier has devoted years to cutting-edge research in infectious disease,” said Patrick L. Iversen, Ph.D., senior vice president of research and development at AVI. “His insights, combined with those of Dr. Ruddon in other therapeutic areas, will help us succeed in reaching our research and clinical goals.”
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 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.