Adverum Biotechnologies Moves to New Headquarters and Expands Laboratory Space in Redwood City, CA
January 27 2020 - 4:00PM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced the opening of its new corporate
headquarters, located at 800 Saginaw Drive in Redwood City, CA.
Located in the Seaport Center, one of the largest biotechnology
research complexes in the San Francisco Bay Area, this new 80,000
square foot facility will serve as the company’s headquarters and
will include expanded laboratory space and manufacturing process
capabilities to further advance Adverum’s gene therapies.
“We are excited to open our corporate headquarters and for our
team to become part of Redwood City’s vibrant biotechnology and
business community,” said Leone Patterson, president and chief
executive officer of Adverum Biotechnologies. “Based on the
promising clinical data from our lead gene therapy program,
ADVM-022 in wet AMD, and our plans to pursue a second indication in
diabetic retinopathy, this facility provides the opportunity to
support our future growth as we continue to strengthen our unique
novel vector development and manufacturing process development
capabilities.”
This state-of the-art facility includes two buildings, located
at 800 and 900 Saginaw Drive in Redwood City, CA. The first
building will be approximately 40,000 square feet, with
approximately half dedicated to office space and half for
laboratory space to support Adverum’s novel vector discovery and
development platform. The second building also will have
approximately 40,000 square feet of space, enabling expanded
process development and manufacturing capabilities,
pharmacodynamics laboratories, quality control laboratories, and
warehouses. The company’s commitment to the local economy and job
market is reflected in its plans to grow its workforce over the
course of 2020 and beyond as it continues to advance the clinical
development of ADVM-022 for wet age-related macular degeneration
and diabetic retinopathy and further develop its pipeline of
research-stage gene therapies.
About Adverum Biotechnologies, Inc.Adverum
Biotechnologies (Nasdaq: ADVM) is a clinical-stage gene therapy
company targeting unmet medical needs in serious ocular and rare
diseases. Adverum is evaluating its novel gene therapy candidate,
ADVM-022, as a one-time, intravitreal injection for the treatment
of its lead indication, wet age-related macular degeneration. For
more information, please visit www.adverum.com.
Forward-looking Statements Statements contained
in this press release regarding 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:
Adverum’s plans to advance ADVM-022, including pursuing an
indication in diabetic retinopathy, to grow its workforce, and to
expand its process development and manufacturing capabilities, all
of which are based on certain assumptions made by Adverum on
current conditions, expected future developments and other factors
Adverum believes are appropriate in the circumstances. Adverum may
not achieve any of these in a timely manner, or at all, or
otherwise carry out the intentions or meet the expectations
disclosed in its 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 risks inherent to,
without limitation: Adverum’s novel technology, which makes it
difficult to predict the time and cost of product candidate
development and obtaining regulatory approval; the results of early
clinical trials not always being predictive of future results; the
potential for future complications or side effects in connection
with use of ADVM-022; obtaining regulatory approval for gene
therapy product candidates; enrolling patients in clinical trials;
reliance on third parties for conducting clinical trials and vector
production; and ability to fund operations. Risks and uncertainties
facing Adverum are described more fully in Adverum’s Form 10-Q
filed with the SEC on November 7, 2019 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 and Media Inquiries:
Investors:
Myesha Lacy
Adverum Biotechnologies, Inc.
mlacy@adverum.com
1-650-649-1257
Media:
Cherilyn Cecchini, M.D.
LifeSci Communications
ccecchini@lifescicomms.com
1-646-876-5196
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