AVI BioPharma Completes Preclinical Development of Cancer Compound; Company Scientists Present Data On Neugene Antisense Compounds At Prestigious Cancer Conference.

Health/Medical Writers

PORTLAND, Ore.--(BW HealthWire)--Sept. 27, 2000

AVI BioPharma, Inc. (Nasdaq:AVII)(Nasdaq:AVIIW, AVIIZ) today announced completion of preclinical studies in cancer utilizing its proprietary NEUGENE(R) antisense technology.

The studies, which the Company believes will form the basis of an IND filing and commencement of a Phase Ib/II cancer study around year end, were part of data presented at the seventh annual CaP CURE prostate cancer scientific retreat held last weekend.

AVI's Senior Vice President of Research and Development Patrick Iversen, Ph.D., commented, "Our participation in CaP CURE allowed us to share some of our latest research involving NeuGenes, our proprietary third-generation antisense technology. Further, the conference provided us with valuable information we will use in our ongoing clinical trial designs for our Avicine, Xactin and NeuGene technologies in the treatment of prostate and other cancers."

Dr. Iversen presented data on AVI's clinical development of Oncomyc-NG, a NeuGene antisense therapy that has completed preclinical studies and Phase I clinical trials. The compound targets the oncogene c-myc, and has shown promise in blocking tumor growth, preventing coronary artery occlusion following balloon angioplasty, and inhibiting progression of polycystic kidney disease, in a variety of animal models.

AVI Scientist Gayathri Devi, Ph.D., presented additional preclinical data that demonstrated delivery of NeuGenes to prostate cancer cells, coupled with favorable inhibition of prostate cancer cell growth.

"We expect the significant data showcased by Drs. Iversen and Devi to facilitate interactions with other cancer researchers interested in exploring cancer genes and new approaches to the treatment of all cancers," said Denis R. Burger, Ph.D., CEO of AVI.

Based in Santa Monica, Calif., CaP CURE, The Association for the Cure of Cancer of the Prostate, is a nonprofit public charity dedicated to finding cures and controls for prostate cancer. CaP CURE is the world's largest private source of prostate cancer research funding, having awarded more than $80 million in grants to some 600 projects world wide. CaP CURE identifies, stimulates and rapidly funds promising prostate cancer research and accelerates its conversion into treatments and cures. More information about CaP CURE is available at http://www.capcure.org.

AVI BioPharma develops therapeutic products for the treatment of life-threatening diseases using two technology platforms: cancer immunotherapy and gene-targeted drugs. Its lead clinical agent, AVICINE, is in a Phase II trial in pancreatic cancer and will soon enter a Phase III pivotal trial in colorectal cancer and a Phase Ib/II trial in prostate cancer. AVI has begun clinical trials of Resten-NG in cardiovascular restenosis, the first application of its novel third-generation NEUGENE antisense technology. Resten-NG is designed to treat cancer, cardiovascular restenosis and other cell proliferation disorders by inhibiting the production of a cellular transcription factor, the oncogene c-myc. More information about AVI is available on the company's Web site at http://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 pre-clinical 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 Companies' Securities and Exchange Commission filings.