Sustainability

At Adverum, our values define how we conduct business, shape patient care, apply science to medicine, and work and grow as a company. We strive to put our corporate values into action every day – by reducing the environmental impact of our research and operations, providing safe, engaging and impactful work for our employees, and always leading with integrity.

Sustainability Oversight

We integrate environmental, social, and governance objectives into our decision-making to deliver long-term value to all of our stakeholders.Our leadership creates and monitors our sustainability-related programs, with our board of directors maintaining ultimate oversight.

To identify the sustainability issues material to our business, we are guided by best practices, feedback
we receive from our stakeholders, including employees, regulators, patients and investors, and third-party thought leaders, such as the Sustainability Accounting Standards Board (SASB), Biotechnology and Pharmaceuticals.

Lead with Integrity

Adverum is committed to maintaining the highest ethical standards. We understand and respect the obligation we have to our patients, their families and caregivers, to always operate ethically and maintain legal compliance.

Ethics and Compliance

We are guided by our Code of Business Conduct and Ethics (Code of Conduct) which applies to all directors, officers, and employees of the company.

Adverum maintains a toll-free, 24/7 anonymous ethics hotline and reporting website for reporting any ethical concerns by employees or other parties. All reports are logged into our database, investigated, and tracked until resolved. A copy of any complaint is forwarded to our Chief Operating Officer, General Counsel, Chief Executive Officer, and Audit Committee Chair.

Adverum maintains a strict policy against any form of retaliation for an employee reporting in good faith a suspected Code of Conduct violation.
We provide legal protection in accordance with applicable laws, including identity protection, and protection from retaliation, harassment, or intimidation.

Clinical Trial Standards

(SASB Safety of Clinical Trial Participants, HC-BP-210a.1)

Adverum is committed to conducting its clinical trials ethically and adhering to best practice principles. Our practice is to follow Good Clinical Practice (GCP) guidelines for designing, conducting, recording, and reporting our trials to provide assurance for the rights and safety of trial subjects; we sponsor our own trials.

For each clinical study, a master Informed Consent Form (ICF) template is required and is submitted to
an Institutional Review Board for approval before adoption. The ICF template provides information regarding the rights of trial subjects and includes relevant contact information in the event of a concern or complaint.

We require our clinical development employees to complete GXP training.

Strive Together

Our employees are crucial in our mission to provide hope to our patients and their families by delivering life-changing medical innovation for ocular and rare diseases. We retain, develop, and reward exceptional talent to meet our objectives for helping patients.

Diversity and Inclusion

Adverum’s success depends on the diversity of perspective, thought, experience, and background within our company. We value diversity and offer the same welcome to all employees and partners regardless of race, gender, nationality, ethnic origin, religion, age, or sexual orientation. Bullying, intimidation, or harassment of any kind is not acceptable in our workplace, and we actively tackle these issues by requiring anti-harassment training every two years and offering unconscious bias training annually for all employees.

Our diversity and inclusion programs are managed by our Sr. Manager, Corporate Engagement, Culture and Communications, with guidance from our Diversity Governance Committee. As part of fostering a diverse workforce, we have implemented Women and LGBTQ employee resource groups and host a Diversity Book Club.

Adverum’s 2020 EEO-1 Employee Diversity Statistics

Training and Development

(Employee Recruitment, Development & Retention, HC-BP-330a.1)

We take great pride in listening to our employees and making Adverum a great place to work. Adverum offers programs to foster both leadership and professional skills development. Employees at all levels of the organization have access to Adverum University, learning forums, and management certificate programs. Our comprehensive training and development programs aim to cover topics from new hire training to professional, management, and leadership development.

Employees are also encouraged to be involved in talent development. All of our managers are required to have development conversations with their direct reports, and we offer career planning and calibration at each level. Adverum aims to support its employees at every step of their careers by sponsoring relevant trainings and courses where applicable. All our employees receive annual performance reviews during which they and their manager discuss their career development opportunities and professional growth.

Compensation and Benefits

We offer our full-time employees industry-leading benefits, including competitive salaries, bonuses and equity, 401K match, 20-day PTO for new hires, and health benefits (Adverum covers 90% of the insurance costs for both employee and their dependents). Benefits available to all employees working 30+ hours per week include:

  • Medical, dental, and vision insurance
  • 401K retirement program with company match
  • Employee stock purchase plan
  • Paid parental leave
  • Medical & prescription drug coverage
  • Supplemental health insurance
  • Life & disability insurance
  • Employee Assistance Program
  • Travel Assistance Program

We diligently encourage our employees and their managers to proactively manage their work-life balance, such as using no-meeting calendar blocks and judicious use of time off to recognize the benefit of an engaged workforce.

Pay Equity

Adverum is committed to the principle of equal pay for equal work for our employees and seeks to ensure employees are paid equitably for substantially similar work. We undertake a pay equity analysis after each merit and promotion cycle. Where a discrepancy might be identified, there is an internal review process in place to evaluate it and, where appropriate, address it.

Our overall raw ratio of median female salary to median male salary is 97.9% (and the mean raw salary ratio is 85.7%), as of December 31, 2021. This pay gap reflects the fact that there are more men in senior, higher-paid positions. We are committed to recruiting and promoting diverse talent across all levels of our organization as we work across our company and industry to advance equity.

Female Salary as a Percentage of Male Salary # of Employees % Women Median % Mean %
Leadership* 20 25% 94.0% 91.6%
Salaried – G&A 39 62% 122.1% 108.6%
Salaried – R&D 121 55% 92.1% 99.5%
Hourly – G&A 7 29% 96.0% 93.4%
Hourly – R&D 1 100% N/A N/A
Total 188 53% N/A N/A

* Leadership represents all VP’s & above.

Female Salary as a Percentage of Male Salary
Leadership*
# of Employees 20
% Women 25%
Median % 94.0%
Mean % 91.6%
Salaried – G&A
# of Employees 39
% Women 62%
Median % 122.1%
Mean % 108.6%
Salaried – R&D
# of Employees 121
% Women 55%
Median % 92.1%
Mean % 99.5%
Hourly – G&A
# of Employees 7
% Women 29%
Median % 96.0%
Mean % 93.4%
Hourly – R&D
# of Employees 1
% Women 100%
Median % N/A
Mean % N/A
Total
# of Employees 188
% Women 53%
Median % N/A
Mean % N/A

* Leadership represents all VP’s & above.

Employee Engagement

Our senior leadership assesses engagement as well as detailed employee turnover data to understand and identify potential opportunities for improvement. As part of our efforts, we conduct annual anonymous employee engagement surveys supplemented with quarterly pulse surveys. Our latest employee satisfaction score was 71%.

Additionally, we actively monitor our Glassdoor score. As of November 2021, we earned an overall 4.0 out of 5 rating on Glassdoor, with a 5 out of 5 rating for diversity, and scored 84% for employees that would recommend working at Adverum to a friend.

We were also featured as a 2021 “Top Place to Work” by Bay Area News Group.

We believe these scores and our award represent our dedication to keeping our employees connected, especially as we transitioned to working remotely during the pandemic and then into a more hybrid model. We have held many Zoom events, including happy hours, where our employees could connect with each other on a social level to continue to build relationships with each other.

Adverum is committed to fostering an open communications environment. Our Employee Handbook includes an Engagement and Open Door Policy under which employees are encouraged to raise their concerns, complaints or knowledge of potential violation of our policies with their manager, human resources business partner, or the Legal Team. Employees may also anonymously submit a complaint on our corporate intranet.

Pioneer with Patients

Product Quality and Safety

The safety of patients is a company-wide focus. We are committed to the continuous evaluation of the benefits and risks of our investigational products and proactively take action to protect the safety and well-being of those taking our therapies. We set high standards and focus on achieving continuous improvements in the effectiveness of our quality processes.

Our president and chief executive officer, chief medical officer, chief science officer, senior vice president of quality, and senior vice president for manufacturing oversee our quality and safety programs and assume managerial responsibility. As we are still at the clinical trial stage, we do not manufacture products for commercial use or sale thus far. We rely on third-party contract manufacturers for required raw materials and finished products for our preclinical and clinical trials. All of our contract manufacturers must be GMP facilities, and all supplier contracts refer to this requirement. All products and services will undergo stringent regulatory and self-evaluation safety risk assessments to meet our extensive quality requirements.

To ensure safety we have extensive emergency response processes in place for testing, and in adverse circumstances, to notify the FDA and investigate the issue. We have standard operating procedures in place for incident investigation and corrective action. We provide new hire safety training for all relevant employees on product safety and quality procedures.

Environment

We understand our responsibility to help protect the environment and seek to minimize our environmental impact.

Our Environmental Health and Safety staff actively manage our impact to ensure compliance with laws and regulations. We conduct routine internal inspections and are audited on an annual basis by a Certified Unified Program Agency (San Mateo County). We recognize the importance of carbon and waste reduction and monitor our footprint. We currently have plans to deactivate process-related bio-waste to further reduce our environmental footprint. To reduce our energy use and related carbon emissions, we are refurbishing portions of our facilities with LED lights.

To reduce our climate impact, we source electricity from Peninsula Clean Energy, where the provided energy is 100% carbon-free and 50% from renewables.

Carbon Emissions

  Energy Usage
(MWh)
CO2
(metric tons)
Scope 1 –
Natural Gas Usage
20 25%
Scope 2 –
Electricity
39 62%
Total 188 53%

 

Scope 1 –
Natural Gas Usage
Energy Usage (MWh) 20
CO2 (metric tons) 25%
Scope 2-
Electricity
Energy Usage (MWh) 39
CO2 (metric tons) 62%
Total
Energy Usage (MWh) 188
CO2 (metric tons) 53%

Waste Generation

  Pounds
Medical Waste 12,325
Hazardous Waste 2,358
Total 14,693