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AVI Gets $3M For Muscular Dystrophy

AVI Biopharma (NASDAQ: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.