Adverum Appoints CMO and CSO
June 01 2021 - 8:00AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced the appointment of two highly experienced
leaders, Julie Clark, M.D., as chief medical officer, and Brigit
Riley, Ph.D., as chief scientific officer effective immediately,
both reporting directly to Laurent Fischer, M.D., Adverum’s chief
executive officer.
“Patient safety is our top priority as we continue to conduct a
thorough review of data on the INFINITY SUSAR and the ADVM-022
program,” said Dr. Fischer. “Our goal is to realize the potential
of ADVM-022 and our pipeline to benefit patients worldwide and
Julie and Brigit both bring extensive experience in gene therapy
and ophthalmology drug development to Adverum. Julie and Brigit
will collaborate cross functionally to understand the INFINITY
SUSAR to advance the field of gene therapy and we are excited to
have them take on these critically important roles. Their skill
sets and collective deep knowledge of drug development, gene
therapy, and retina from discovery into the clinic and through
regulatory review, are invaluable as we conduct a thorough review
of patient safety data from the ADVM-022 program and look to expand
our pipeline.”
Dr. Clark added, “I have dedicated my career to clinical
development programs and commercial launch initiatives for new
therapies for ocular diseases. ADVM-022 is a potential
transformative gene therapy program and as a physician and a leader
I am thrilled to be part of the journey to advance the
understanding and potential of this novel therapy on behalf of
patients.”
Dr. Riley added, “AAV gene therapy represents the forefront of
genomic medicines and Adverum has unique capabilities and
world-class scientific minds that enable us to advance the science.
I am excited to join at this important time to lead our pipeline
expansion and the broader gene therapy field forward.”
Julie Clark, M.D., Promoted to Chief Medical
OfficerAs chief medical officer, Dr. Clark will be
responsible for clinical strategy and implementation of clinical
trials across all phases of development. Dr. Clark brings 14 years
of experience in clinical development programs and commercial
launch initiatives for new therapies for ocular diseases, including
Eylea® and BEOVU®. Previously, she worked with Novartis over a
five-year period in positions of increasing responsibility. As lead
medical director – retina, she was responsible for the Phase 3b
clinical trial for BEOVU® and served as medical lead for
cross-functional team initiatives for product launch. Earlier, she
was medical director, U.S. medical affairs for ThromboGenics, where
she supported the Jetrea® launch and late-stage clinical studies.
Previously, she worked with Regeneron Pharmaceuticals, Inc., where
as associate director, medical affairs – ophthalmology she
supported the clinical development and commercial launch of Eylea®.
Before Regeneron, she worked with ISTA Pharmaceuticals as medical
affairs product director and helped align strategy and
communications for Xibrom®/Bromday®, Bepreve®, Istalol®, Vitrase®.
Dr. Clark earned an M.D. from Wake Forest University School of
Medicine and a B.S. in Biology from Wake Forest University. In
addition, she holds an M.S. in Biotechnology from the Center for
Biotechnology Education and Advanced Biotechnology Studies from
Johns Hopkins University.
Brigit Riley, Ph.D., Appointed Chief Scientific
Officer In her position as chief scientific officer, Dr.
Riley will be responsible for leading Adverum’s portfolio of drug
discovery and development programs. Dr. Riley has more than 15
years of experience in the biotechnology industry and in academia,
identifying and advancing promising drug candidates into the
clinic. Most recently Dr. Riley has been an advisor to several gene
therapy companies. Previously, she was with Sangamo Therapeutics
serving as vice president, discovery and translational research.
She led the Hemophilia A program from initial gene cassette
engineering to successful first in man clinical trial, resulting in
a partnership with Pfizer. Additionally, she led Sangamo’s CNS
portfolio and pipeline expansion, ultimately leading to a
partnership with Biogen. Dr. Riley was a postdoctoral scholar at
Stanford University, earned a Ph.D. in Biochemistry, Molecular
Biology and Biophysics from University of Minnesota and a B.A. in
Chemistry from Northwestern University.
Inducement GrantOn June 1, 2021, Adverum
granted Dr. Riley a stock option to purchase 450,000 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
her 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 her continued service with
Adverum.
About Adverum BiotechnologiesAdverum
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 wet age-related
macular degeneration and diabetic macular edema. For more
information, please visit www.adverum.com.
Forward-looking StatementsStatements contained
in this press release regarding the events or results that may
occur in the future 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 roles in which Dr. Clark and Dr. Riley will serve
and the benefits that they are expected to bring to Adverum. Actual
results could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties. Risks and uncertainties facing Adverum are described
more fully in Adverum’s Form 10-Q filed with
the SEC on May 6, 2021 under the heading “Risk
Factors.” All forward-looking statements contained in this press
release speak only as of the date on which they were made. Adverum
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
Investor Relations Contact
Amy Figueroa
Adverum Biotechnologies, Inc.
T: 650-823-2704
E: afigueroa@adverum.com
Media Contact
Andrea Cohen
Sam Brown Inc.
T: 917-209-7163
E: andreacohen@sambrown.com
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