Bullish AVI Biopharma plots HQ move to Seattle

With its stock price up and its RNA technology showing promise for Duchenne Muscular Dystrophy and bioterror programs, a bullish AVI Biopharma announced that it will move its headquarters staff and some research work from Portland to Bothell, WA, where it plans to tap into Seattle's biotech labor force.

A new, 19,000-square-foot office and lab complex will host executive offices, administration, discovery research, chemistry, clinical and regulatory operations, according to a report in Xconomy.

"It's important for us to be in Seattle because the competitive environment in life sciences is important to the tone and productivity of a company, and, if you're looking to recruit someone, it's important to be in a labor pool of significant size like there is in Seattle," CEO Les Hudson told Xconomy.

AVI has burned through $250 million in investment cash over 29 years without gaining an approval. But Hudson has redirected the company and vows to push ahead on the RNA front. AVI's stock has jumped from 66 cents a share to $2.29 this year.

- here's AVI's release
- read the story from Xconomy