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AVI BioPharma Awarded up to $291 Million U.S. Government Contract

Wed, 08/04/2010 - 10:42am
Edited for tone and content by Lily Barback

AVI BioPharma, Inc. announced that it has been awarded a new contract for up to approximately $291 million total with the U.S. Department of Defense Chemical and Biological Defense Program through the U.S. Army Space and Missile Defense Command for the development of the Company's hemorrhagic fever virus therapeutic candidates, AVI-6002 and AVI-6003, for Ebola and Marburg viruses, respectively. The contract was awarded as part of the Transformational Medical Technologies (TMT) program, which was created to develop innovative platform-based solutions to counter biological threats. The contract is the largest ever awarded under the TMT program.

TMT is actively supporting both the development of broad-spectrum medical countermeasures and innovative platform-based technologies with broad applicability to a range of biological threats. Of particular interest to TMT are adaptable platforms capable of rapidly generating medical countermeasures. Through two separate funded efforts with TMT, AVI's platform has demonstrated the ability to rapidly generate medical countermeasures against biological threats. AVI BioPharma, Inc., 425-354-5038, http://www.avibio.com/

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