Adverum Biotechnologies Announces Appointment of Thomas Kochy as Vice President, Commercial and Program Strategy
July 21 2020 - 8:00AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced that Thomas Kochy joined the company as
vice president, commercial and program strategy. In this newly
created position, Mr. Kochy will be responsible for leading
commercial planning, product strategy, and program management. This
position will report into Adverum’s president, Leone Patterson.
“Tom’s breadth of lifecycle leadership, product marketing, and
sales management expertise along with his 10 years of experience in
the ophthalmology franchise at Genentech makes him an exceptional
addition to our team,” said Leone Patterson, president of Adverum.
“As we advance our development efforts for ADVM-022 for two large
ocular disease indications and prepare for later-stage clinical
trials, we look forward to Tom’s leadership and valuable insights
into our global product strategy efforts for ADVM-022. Our goal is
to deliver our one-time novel gene therapy to patients with serious
ocular and rare diseases as quickly as possible.”
Mr. Kochy has over 15 years of experience in the
biopharmaceutical industry. Prior to joining Adverum, Mr. Kochy
served as a strategy consultant in ocular disease areas. Prior to
consulting, Mr. Kochy worked at Genentech from 2004 to 2019, most
recently as regional sales director for Actemra and Rituxan
Immunology. Previously at Genentech, he led ophthalmology pipeline
strategy and worked on Lucentis, leading several marketing teams
and planning for wet age-related macular degeneration (AMD),
diabetic macular edema (DME), and retinal vein occlusion (RVO)
launches, as well as on the Port Delivery System. He began his
career in ophthalmology market planning, leading to the expansion
of development plans for Lucentis in DME and RVO. Mr. Kochy holds a
Master of Business Administration from the University of
California, Berkeley and a Bachelor of Science in Mechanical
Engineering from the University of California, Los Angeles.
On July 20, the company granted Mr. Kochy 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 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: Adverum’s advancements of current clinical trials, and
its plans for later-stage clinical trials and growth and expansion
of its commercial capabilities; and Adverum’s expectations as to
the benefits it expects from the addition of Mr. Kochy.
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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