AVI BioPharma (AVII) Partner Receives European Approval for a New Cobalt Chromium Bare Metal Stent

June 16, 2008 9:49 AM EDT

AVI BioPharma, Inc. (NASDAQ: AVII) announced that its partner in its cardiovascular program, Global Therapeutics, the cardiology unit of Cook Medical, has received CE Mark approval for a new cobalt chromium bare metal stent. The device, the Global Therapeutics GTX Coronary Stent System, is also the platform for a breakthrough drug-eluting stent (DES) technology which utilizes AVI-5126, developed by AVI. The drug candidate is an improved version of antisense gene therapy to inhibit the proliferation of c-myc, a gene known to be involved in the intimal hyperplasia which underlies the process of vessel restenosis. Cook Medical management indicates that the clinical trial is expected to begin in the third quarter of 2008 in Europe.

AVI BioPharma, Inc. (AVI) is a biopharmaceutical company developing therapeutic products principally based on third-generation NeuGene antisense technology. [SM]


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