Adverum Issues Statement Regarding Upcoming Annual Meeting of Stockholders
May 10 2021 - 8:15AM
Adverum Biotechnologies Inc. (“Adverum”) (Nasdaq: ADVM), a
clinical-stage gene therapy company targeting unmet medical needs
in ocular and rare diseases, today issued the following statement
regarding the Annual Meeting of Stockholders (“Annual Meeting”)
scheduled for May 12, 2021:
On May 5, 2021, Jean Bennett, MD,
PhD, one of the nominees on The Sonic Fund II, L.P.’s (“Sonic”)
slate of director candidates standing for election at the Annual
Meeting, reached out to Laurent Fischer, M.D., Chief Executive
Officer of Adverum, and notified him that she was uncomfortable
serving as a member of the Board of Directors of Adverum.
In a follow-up conversation on May 6,
2021, Dr. Bennett stated to Dr. Fischer that she intends to alert
Lawrence Kam, principal of Sonic, that she will withdraw her
candidacy.
Adverum has not had a conversation
with Dr. Bennett since May 6, 2021. The Company waited to disclose
this material information as long as possible in order to give Dr.
Bennett the courtesy to disclose it herself. Additional information
on this matter will have to come from Sonic.
Adverum is laser focused on
conducting a thorough review of data from the ADVM-022 program, and
patient safety remains its top priority.
Advisors
Cooley LLP and Skadden, Arps, Slate, Meagher & Flom LLP are
serving as legal advisors, and Centerview Partners LLC is serving
as financial advisor to Adverum.
About Adverum
Biotechnologies
Adverum Biotechnologies (Nasdaq: ADVM) is a clinical-stage gene
therapy company targeting unmet medical needs in serious ocular and
rare diseases. Adverum is advancing the clinical development of its
novel gene therapy candidate, ADVM-022, as a one-time, intravitreal
injection for the treatment of patients with neovascular or wet
age-related macular degeneration and diabetic macular edema. For
more information, please visit www.adverum.com.
Important InformationAdverum
Biotechnologies, Inc. (“Adverum”) has filed a definitive proxy
statement and form of associated WHITE proxy card with the U.S.
Securities and Exchange Commission (the “SEC”) in connection with
the solicitation of proxies for Adverum’s 2021 Annual Meeting (the
“Proxy Statement”). Adverum, its directors and certain of its
executive officers and employees will be participants in the
solicitation of proxies from stockholders in respect of the 2021
Annual Meeting. Information regarding the names of Adverum’s
directors, executive officers and employees and their respective
interests in Adverum by security holdings or otherwise is set forth
in the Proxy Statement. Details concerning the nominees of
Adverum’s Board of Directors for election at the 2021 Annual
Meeting are included in the Proxy Statement. BEFORE MAKING ANY
VOTING DECISION, INVESTORS AND STOCKHOLDERS OF ADVERUM ARE URGED TO
READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC,
INCLUDING THE ADVERUM’S DEFINITIVE PROXY STATEMENT AND ANY
SUPPLEMENTS THERETO AND ACCOMPANYING WHITE PROXY CARD, BECAUSE THEY
CONTAIN IMPORTANT INFORMATION. Investors and stockholders can
obtain a copy of the Proxy Statement and other relevant documents
filed by Adverum free of charge from the SEC’s website,
www.sec.gov. Stockholders may also contact Innisfree M&A
Incorporated with questions or requests for additional copies of
the proxy materials by calling toll free at (877) 750-9496.
Investor Relations Contact
Myesha Lacy
Vice President, Investor Relations and Corporate Communications
Adverum Biotechnologies, Inc.
T: 650-649-1257
E: mlacy@adverum.com
Or
Scott Winter / Gabrielle Wolf
Innisfree M&A Incorporated
T: 212-750-5833
Media Contact
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com
Or
Dan Moore
Joele Frank, Wilkinson Brimmer Katcher
T: 212-355-4449
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