Avalanche Biotechnologies’ Stockholders Vote in Favor of Annapurna Transaction
The proposed transaction with Annapurna is expected to close on
"We are pleased with the affirmative vote at today's annual meeting of stockholders concerning our transaction with Annapurna. We look forward to closing this transaction, changing our name and focusing on our clinical and corporate goals," said Paul Cleveland, president and chief executive officer of Avalanche.
Avalanche is a gene therapy company committed to discovering and developing novel medicines that can offer potentially life-changing therapeutic benefit to patients suffering from diseases with few or burdensome treatment options. Avalanche is leveraging its next generation adeno-associated virus (AAV)-based directed evolution platform to generate product candidates designed to provide durable efficacy by inducing sustained expression of a therapeutic protein. With significant capabilities and expertise in vector optimization, process development and manufacturing, Avalanche seeks to discover and develop targets in ophthalmology and beyond. For more information, please visit www.avalanchebiotech.com.
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the structure, timing and completion of our proposed acquisition of Annapurna. Avalanche may not consummate the proposed acquisition, or any plans or product development goals in a timely manner, or at all, or otherwise carry out the intentions or meet the expectations or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with the ability to consummate the proposed acquisition. Risks and uncertainties facing Avalanche are described more fully in Avalanche’s periodic reports filed with the
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