Adverum Biotechnologies Announces Appointment of Heikki Jouttijärvi as Vice President of Manufacturing
June 25 2020 - 4:01PM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced that Heikki Jouttijärvi joined the
company as vice president, manufacturing. In this newly created
position, Mr. Jouttijärvi will be responsible for leading the
manufacturing and supply chain strategy and operations. This
position will report into Adverum’s chief technology officer,
Angela Thedinga.
“We are excited to have Heikki join our team and partner with
Angela to recruit additional professionals to further strengthen
the extensive manufacturing experience of our team,” said Leone
Patterson, president of Adverum. “Heikki brings extensive global
expertise in the pharmaceutical industry which includes both
external and internal manufacturing as well as sourcing, supply
chain, and logistics. He also brings valuable experience in
manufacturing several sterile ophthalmic products. As we continue
to advance ADVM-022 in our OPTIC and INFINITY clinical trials and
plan for later-stage studies in these programs, Heikki’s experience
will be instrumental to our planned growth and expansion of our
manufacturing capabilities.”
Mr. Jouttijärvi has more than 25 years of experience in the
pharmaceutical industry which includes global sourcing, supply
chain, and external and internal manufacturing between Europe,
United States and Asia. Prior to joining Adverum, Mr. Jouttijärvi
was vice president, technical operations at Menlo Therapeutics,
Inc. From 1999-2017, Mr. Jouttijärvi held various roles of
increasing responsibility at Santen Pharmaceutical Company, Ltd.,
and its subsidiaries, most recently serving in the role of vice
president, head of global external manufacturing and sourcing. He
began his career as a pharmacist. Mr. Jouttijärvi holds a Master of
Science degree in Pharmaceutical Sciences with a major in
Pharmaceutical Analytical Chemistry from the University of
Helsinki, Finland.
On June 22, the company granted Mr. Jouttijärvi a stock option
to purchase 100,000 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 his 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
his 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 Statements Statements 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: Adverum’s advancements of current clinical trials, and
its plans for later-stage clinical trials and growth and expansion
of its manufacturing capabilities; and Adverum’s expectations as to
the benefits it expects from the addition of Mr. Jouttijärvi.
Actual results 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 the OPTIC and INFINITY trials and vector production;
the effects of the COVID-19 pandemic on the company’s operations
and on the company’s ongoing clinical trials; and ability to fund
operations through completion of the OPTIC and INFINITY trials and
thereafter. Risks and uncertainties facing Adverum are described
more fully in Adverum’s Form 10-Q filed with
the SEC on May 28, 2020 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 LacyAdverum Biotechnologies,
Inc.mlacy@adverum.com1-650-304-3892
Media:Cherilyn Cecchini, M.D.LifeSci
Communicationsccecchini@lifescicomms.com1-646-876-5196
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