News & Observer | newsobserver.com | Ercole Biotech to be bought

Published: Mar 15, 2008 12:30 AM
Modified: Mar 15, 2008 02:44 AM

Ercole Biotech to be bought

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RESEARCH TRIANGLE PARK - Ercole Biotech, a UNC-Chapel Hill spinoff that employs eight, will be bought by a Portland, Ore., drug development company in a $9 million stock and cash deal.

Ercole and AVI BioPharma have been collaborating to develop a treatment for Duchenne muscular dystrophy, a fatal muscle-wasting disease. The drug is being tested in humans in Britain.

AVI expects to maintain a presence in the Triangle after the deal is completed next week. The publicly traded company is focusing on treatments for gene-based diseases, including drugs that promise an alternative to gene therapy.

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