Ebola Fighter, AVI, Raises $16.5M

1/30/09

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.

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