Adverum Biotechnologies Announces Board and Senior Management Changes
-- Director and Co-founder
-- President, CSO Mehdi Gasmi, Ph.D. to Transition to Board of Directors --
-- Adverum Continues to Build Senior Team with Deep Functional Expertise with Three New Vice Presidents --
Board member and co-founder
“We thank Mitch for his many years of service and contributions to Adverum’s science and we are excited to welcome Mehdi to Adverum’s Board,” said
Mr. Machado continued, “For almost six years, as part of the Adverum management team, Mehdi played a critical role, building an industry-leading AAV gene therapy platform and leading the preclinical development of ADVM-022 to generate a robust body of published, long-term data on this therapy. This work led to the achievement of significant development milestones as ADVM-022 entered the clinic and now approaches the first clinical data in patients with wet AMD to be reported next month. We are grateful for Mehdi’s continued commitment as a new board member given his extensive knowledge and expertise in gene therapy product development.”
In addition, Adverum announced the three new appointments:
“As we make progress advancing ADVM-022 for wet AMD, we are building a team of senior professionals with deep functional expertise to support our company’s future growth and opportunities to treat patients,” said
Ms. Thedinga brings over a decade of strategy and program management experience and will lead Adverum’s newly-created corporate development strategy and program management function. Most recently, Ms. Thedinga was vice president, program management and chief of staff at AveXis, a
Ms. House brings 25 years of experience, including human resource leadership and a background in industrial and organizational psychology and employee engagement and culture enhancement initiatives and will lead this function to support Adverum’s growth. Most recently, Ms. House worked at
Ms. Lacy has nearly 25 years of experience as a communicator, providing strategy, development, and execution of communications to internal and external constituents for publicly-traded pharmaceutical and biotechnology companies, and will lead this function at Adverum. Most recently, she was vice president, investor relations and corporate communications at
On the date these professionals commenced employment with Adverum, the company granted Ms. Thedinga, Ms. House, and Ms. Lacy a stock option for each to purchase 100,000 shares of Adverum’s common stock pursuant to the inducement grant exception under Nasdaq Rule 5635(c)(4), as an inducement that is material to their entering into employment with Adverum. The option has a per share exercise price equal to the closing sales price of Adverum’s common stock on the Nasdaq Stock Market on the grant date, and will vest over four years, subject to their continued service with Adverum.
About Adverum Biotechnologies, Inc.
Adverum is a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases. Adverum develops gene therapy product candidates designed to provide durable efficacy by inducing sustained expression of a therapeutic protein. The company has collaboration agreements with Regeneron Pharmaceuticals and Editas Medicine. Adverum’s core capabilities include clinical development, novel vector discovery and in-house manufacturing expertise, specifically in scalable process development, assay development, and current Good Manufacturing Practices quality control. For more information, please visit www.adverum.com.
Investor and Media Inquiries: Investors:
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Source: Adverum Biotechnologies, Inc.