AVI BioPharma Appoints New Senior Vice President and Chief Financial Officer
July 28 2008 - 9:30AM
Marketwired
CORVALLIS, OR , a developer of RNA-based drugs, today announced
that J. David Boyle II will join the Company as Senior Vice
President and Chief Financial Officer. Mr. Boyle is expected to
begin his employment with the Company on August 18, 2008, at which
time, Mark Webber, the Company's current CFO, will assume a new
position within AVI as General Manager of Finance and
Administration.
Mr. Boyle brings extensive operational and international
financial experience to AVI. He was previously Vice President,
Finance and Chief Financial Officer of XOMA Ltd., a
California-based leader in the discovery and development of
therapeutic antibodies. In addition to his past positions as VP of
Finance at Polycom and Director of Business Development at Intel,
Mr. Boyle has held senior positions in biotechnology and specialty
pharmaceutical companies. He was at Salix Pharmaceuticals, Ltd. in
the US and at Ares Serono Group both in the US and Switzerland.
"We are excited to have attracted a candidate of David's caliber
to join our senior management team as we continue AVI's transition
from an antisense pioneer into a dynamic RNA-based drug discovery
and development company," stated Dr. Leslie Hudson, AVI's CEO.
"Beyond his extensive background in finance, David brings to AVI
expertise in several operational areas, including experience in the
management of significant government contracts."
Alan Timmins, the Company's current president and Chief
Operating Officer, will transition out of the company as the new
finance and administration team assumes its role. Responsibilities
related to the position of president will be assumed by the
company's CEO. Management of AVI's ongoing and future government
contracts will be shared by AVI's new CFO and the company's
recently appointed Senior Vice President of Strategic Alliances,
while Mr. Timmins' other operational responsibilities will be
shared by AVI's CFO and the General Manager of Finance and
Administration.
"I am personally grateful to Alan Timmins for the help and
support he has given through the re-direction of the company and
wish him well in his future career," said Dr. Hudson. "Our new
management appointments and overall staffing realignment are
happening at a very opportune time for AVI as we pursue an
increasing level of interest from the industry in our core
RNA-based technologies, applications and discovery programs."
About AVI BioPharma
AVI BioPharma is focused on the discovery and development of
RNA-based drugs using the company's expanded portfolio of
proprietary antisense compounds (PMOs). The company's technology
applications leverage distinct mechanisms of action in a range of
genetic diseases, genetic disorders and the genetic code of
disease-causing organisms. The emerging field of directed
alternative RNA splicing represents AVI's newest and most exciting
application based on the company's core antisense technology.
Functional attributes of this approach could include correcting
genetic defects (RNA mutations; which AVI believes could produce
promising treatments for Duchenne muscular dystrophy), coding for
novel soluble receptors (an exciting and novel approach which could
have application in the treatment of inflammatory diseases such as
rheumatoid arthritis), and the reduction in activity of immune
modulators in disease states (currently being applied to IL-10).
AVI's RNA-based drug programs also include blocking mRNA
translation. In AVI's biodefense program, this application has been
successful against the single-stranded RNA viruses Ebola Zaire and
Marburg Musoke in non-human primates and could have value against
other viral targets such as HCV, Dengue, Junin, influenza and RSV
viruses. This application also will be evaluated in the clinic for
the treatment of cardiovascular restenosis by our partner, Cook
Medical. More information about AVI is available 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.
AVI Press and Investor Contact: Michael Hubbard (Email Contact)
Director of Corporate Communications (503) 227-0554
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