AVI Biopharma Names Effie Toshav Senior Vice President and General Counsel
January 07 2011 - 8:00AM
Marketwired
AVI BioPharma (NASDAQ: AVII) today announced the appointment of
Effie Toshav, J.D., as senior vice president and general counsel
effective Jan. 10.
Ms. Toshav, 37, brings considerable industry-specific legal,
corporate development and strategic experience to AVI's management
team. Most recently, she was a partner in the life sciences group
at Wilson Sonsini Goodrich and Rosati (WSGR), where she served as
outside counsel to a large number of prominent biotech companies
advising management teams and their boards of directors on a wide
range of business and legal matters.
Prior to WSGR, she served as general counsel and a member of the
management team at GlycoFi, where she was responsible for all legal
and general corporate matters, including the structure and
execution of strategic alliances with major pharmaceutical
companies as well as the management of the company's extensive
intellectual property portfolio. Ms. Toshav also played a
significant role in the $400 million sale of GlycoFi to Merck in
June 2006. Prior to GlycoFi, she was senior corporate counsel at
Protein Design Labs, the predecessor entity of Facet Biotech.
"Effie's talent, experience and skills add considerable breadth
and depth to the management team, as does her deep expertise in the
key areas of corporate development and intellectual property, as we
navigate this pivotal point in the company's development," said
Chris Garabedian, AVI's CEO and president. "We are excited to have
Effie join the team and look forward to her contribution."
Ms. Toshav commented, "Having advised the company as outside
general counsel, I have been very impressed by AVI's differentiated
RNA-based technologies and their potential across a number of
therapeutic categories. I believe the initial results of the lead
program, AVI-4658, show our tremendous potential to bring a
much-needed therapy to patients with Duchenne muscular dystrophy.
The Company's U.S. Government-funded programs in Ebola, Marburg and
influenza offer additional very exciting opportunities. I look
forward to playing a key role in AVI's senior management team as we
take the company to the next level."
About AVI BioPharma
AVI BioPharma is focused on the discovery and development of
novel RNA-based therapeutics for rare and infectious diseases, as
well as other select disease targets. Applying pioneering
technologies developed and optimized by AVI, the Company is able to
target a broad range of diseases and disorders through distinct
RNA-based mechanisms of action. Unlike other RNA-based approaches,
AVI's technologies can be used to directly target both messenger
RNA (mRNA) and precursor messenger RNA (pre-mRNA) to either
down-regulate (inhibit) or up-regulate (promote) the expression of
targeted genes or proteins. By leveraging its highly differentiated
RNA-based technology platform, AVI has built a pipeline of
potentially transformative therapeutic agents, including a clinical
stage Duchenne muscular dystrophy candidate and anti-infective
candidates for influenza and hemorrhagic fever viruses. For more
information, visit www.avibio.com.
NASDAQ Disclosure
In connection with Ms. Toshav's appointment, she will receive an
option to purchase an aggregate of 650,000 shares of AVI common
stock at an exercise price equal to the last reported sale price of
AVI common stock on the date of grant (anticipated to be on or
about January 10, 2011). Twenty-five percent of the shares
underlying such option will vest on January 10, 2012, with 1/36th
of the remaining shares vesting monthly over the following three
years; provided that Ms. Toshav remains a service provider to AVI
on each such date. In addition, the vesting of some or all of the
shares underlying such option will accelerate in connection with
certain customary events, such as a change in control of AVI or
termination of Ms. Toshav's employment without cause. Such grant
will be made as an "inducement" grant outside of AVI's 2002 Equity
Incentive Plan.
Forward-Looking Statements and
Information
This press release contains statements that are forward-looking,
including statements about AVI's management and prospects, the
development of AVI's product candidates, other antisense-based
technology and the efficacy, potency and utility of AVI's product
candidates in the treatment of rare and infectious diseases, and
its potential to treat a broad number of human diseases. These
forward-looking statements involve risks and uncertainties, many of
which are beyond AVI's control. For a detailed description of risks
and uncertainties AVI faces, you are encouraged to review the
official corporate documents filed with the Securities and Exchange
Commission. AVI does not undertake any obligation to publicly
update its forward-looking statements based on events or
circumstances after the date hereof.
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