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Ebola Fighter, AVI, Raises $16.5M

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: 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.

Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.

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