AVI Biopharma secures increased funding of approximately $4.0 million
AVI BioPharma, Inc., a developer of RNA-based drugs, today announced it secured increased funding of up to approximately $4.0 million under its agreement with the US Defense Threat Reduction Agency to develop, in cooperation with the Transformational Medical Technologies Initiative of the Department of Defense, one or more of AVI's nucleotide-based drug candidates targeting the pandemic H1N1 influenza virus.
Arginetix Inc., a Baltimore-based developer of small molecule inhibitors of arginase, has raised $2.3 million in first-round funding.