Adverum Biotechnologies Announces Data Presentations at the European Society of Gene and Cell Therapy (ESGCT) Meeting

MENLO PARK, Calif., Oct. 20, 2016 (GLOBE NEWSWIRE) — Adverum Biotechnologies, Inc. (Nasdaq:ADVM), a gene therapy company committed to discovering and developing novel medicines for patients suffering from diseases with few or burdensome treatment options, announced today the presentation of preclinical data on ADVM-022 and ADVM-032, the Company’s novel gene therapy candidates for ophthalmology. The Company is presenting data during an oral presentation and two poster sessions at the European Society of Gene and Cell Therapy (ESGCT) meeting, held October 18 – 21, 2016 in Florence, Italy.

“Our lead ophthalmology gene therapy candidates ADVM-022 and ADVM-032, with intravitreal administration, show compelling proof-of-concept of these vectors’ anti-angiogenic effect in laser-induced choroidal neovascularization.  These data are comparable to the anti-VEGFA standard of care when evaluated in a model for the treatment of age-related macular degeneration,” said Amber Salzman, Ph.D., President and Chief Executive Officer of Adverum Biotechnologies. “Importantly, the side effect profile appears manageable, with any moderate inflammation resolving by week 12 in every instance, and no ocular adverse effect observed at 20 weeks post injection.  We are excited by the efficacy and safety profile seen in this preclinical study and we are eager to initiate toxicology studies in the first half of 2017 for ADVM-022 and ADVM-032.  We believe these therapies could have the potential to alleviate patients from the burden of frequent injections in managing their ocular disease.”

“Additionally, data are being presented that show the baculovirus-derived AAV vector being virtually indistinguishable from vector made in the mammalian hek293 system,” added Mehdi Gasmi, Ph.D., Chief Technology Officer and Interim Chief Scientific Officer of Adverum Biosciences. “The baculovirus-based manufacturing process is highly efficient and scalable, which is key to delivering on our future clinical and commercial product needs.”

Oral Presentation:
Impact of vector design and administration technique in gene therapy for the treatment of age-related macular degeneration
Presentation of preclinical data on the intravitreal administration of Adverum’s gene therapy for ophthalmology ADVM-022 (AAV.7m8-aflibercept) and ADVM-032 (AAV.7m8-ranibizumab)
Presenter:  Mehdi Gasmi, Ph.D., Chief Technology Officer and Interim Chief Scientific Officer, Adverum Biotechnologies
Date/Time: Thursday, October 20, 2016, Session 5C, 2:00 – 4:00 pm CET

Poster Presentations:
Evaluating the degree of HSPG-binding for effective AAV transduction following intravitreal administration
Presenter: Annahita Keravala, Ph.D., Director Novel Vector Technology, Adverum Biotechnologies
Date/Time: Wednesday, October 19, 2016, 6:30 – 8:30 pm CET

A highly scalable baculovirus-based process to manufacture AAV vector of various serotypes
Presenter: Mehdi Gasmi, Ph.D., Chief Technology Officer and Interim Chief Scientific Officer, Adverum Biotechnologies
Date/Time: Wednesday, October 19, 2016, 6:30 – 8:30 pm CET

About Adverum Biotechnologies, Inc.
Adverum is a gene therapy company committed to discovering and developing novel medicines that can offer life-changing benefits to patients living with rare diseases or diseases of the eye who currently have limited or burdensome treatment options. Adverum has a robust pipeline that includes product candidates to treat wet AMD, A1AT deficiency, and hereditary angioedema, among others.  We are leveraging our 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. Our focus on the patient is supported by clinical development expertise and core capabilities in vector optimization, process development, manufacturing, and assay development.  For more information please visit www.adverumbio.com.

Forward-Looking Statements for Adverum Biotechnologies
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 Adverum’s plans, potential opportunities, expectations, projections, goals, objectives, milestones, strategies, product pipeline, the sufficiency of its resources to fund the advancement of any development program or the completion of any clinical trials, and the safety, efficacy, and projected development timeline and commercial potential of products under development, all of which are based on certain assumptions made by us on current conditions, expected future developments and other factors we believe are appropriate in the circumstances. Adverum may not consummate 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, the risk that Adverum’s resources will not be sufficient for Adverum to conduct or continue planned development programs, the risk that the results of preclinical studies will not be indicative of the results of future studies and clinical trials, if any, the risk of a delay in the manufacturing of products to be used in any clinical studies, risks related to Adverum’s ability to obtain and maintain regulatory approvals, and the risk that Adverum will not be able to successfully develop or commercialize any of its product candidates. Risks and uncertainties facing Adverum are described more fully in Adverum’s periodic reports filed with the SEC. 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.

Contact for Adverum: 
Tricia Truehart
Vice President The Trout Group LLC
646-378-2953 
ttruehart@troutgroup.com

Adverum Biotechnologies, Inc.