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Adverum Biotechnologies Announces Appointment of Leone Patterson as CEO and Member of the Board of Directors

Oct 17 2018

MENLO PARK, Calif., Oct. 17, 2018 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases, today announced the promotion of Leone Patterson as the Company’s president and chief executive officer.  Ms. Patterson has served as Adverum Biotechnologies’ interim president and chief executive officer since May 3, 2018.  Ms. Patterson was also named to the Adverum Biotechnologies Board of Directors as a director. 

“We are delighted to be able to announce today the appointment of Leone as CEO and director,” said Paul B. Cleveland, chairman of Adverum’s Board of Directors.  “The board conducted a thorough search over the last several months, and in the end it was clear that Leone was the best possible candidate to lead Adverum into its next phase.”  

“I am honored to have the opportunity to continue to lead such a passionate and skilled team at Adverum,” said Leone Patterson. “I look forward to working together as we scale the Company and continue to focus on our mission of advancing novel gene therapies.”

Ms. Patterson joined Adverum Biotechnologies in June of 2016 as the Company’s chief financial officer and has been acting as interim president and chief executive officer since May 2018.  Ms. Patterson will continue to serve as the Company’s chief financial officer until a new chief financial officer is hired.  During her tenure, Adverum entered into a collaboration with Editas Medicine to explore genome editing medicines to the eye, closed a $69 million public offering, and advanced the development of its gene therapy pipeline. Ms. Patterson has more than 20 years of industry experience including the CFO role at Transcept Pharmaceuticals.  In addition, she has also held management roles at life science companies including Exelixis and Novartis AG.  She began her career at global advisory firm, KPMG.  Ms. Patterson earned a B.S. in Business Administration and Accounting from Chapman University and an Executive M.B.A. from St. Mary’s College.

About Adverum Biotechnologies, Inc.
Adverum is a clinical-stage gene therapy company targeting unmet medical needs in serious rare and ocular diseases. Adverum has a robust pipeline that includes product candidates designed to treat rare diseases alpha-1 antitrypsin (A1AT) deficiency and hereditary angioedema (HAE) as well as wet age-related macular degeneration (wAMD). Leveraging a next-generation adeno-associated virus (AAV)-based directed evolution platform, Adverum generates product candidates designed to provide durable efficacy by inducing sustained expression of a therapeutic protein. Adverum has collaboration agreements with Regeneron Pharmaceuticals to research, develop, and commercialize gene therapy products for ophthalmic diseases and Editas Medicine to explore the delivery of genome editing medicines for the treatment of inherited retinal diseases. Adverum’s core capabilities include clinical development and in-house manufacturing expertise, specifically in process development and assay development. For more information please visit www.adverum.com.

Investor and Media Inquiries:
Katherine Bock
Vice President Investor Relations & Corporate Communications
Adverum Biotechnologies, Inc.
650-656-9347
kbock@adverum.com

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Source: Adverum Biotechnologies, Inc.