Adverum Biotechnologies Appoints C. David Nicholson, Ph.D. to its Board of Directors
November 06 2023 - 8:00AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage
company that aims to establish gene therapy as a new standard of
care for highly prevalent ocular diseases, today announced the
appointment of C. David Nicholson, Ph.D., as an independent member
of its Board of Directors, effective November 3, 2023. Dr.
Nicholson brings over forty years of pharmaceutical experience, a
proven track record in drug development, and deep experience in
ophthalmology, most recently as chief research and development
officer at Allergan.
"We are excited to welcome David to Adverum’s Board of
Directors. He brings an exceptional breadth of experience and a
track record of success in pharmaceutical R&D and has launched
multiple transformative products throughout his career, notably in
ophthalmology," stated Patrick Machado, J.D., board chair of
Adverum Biotechnologies. "David’s appointment reflects our
commitment to excellence in clinical and preclinical development,
including of our lead product candidate, Ixo-vec, which is
currently being evaluated in the ongoing Phase 2 LUNA trial of
patients with wet age-related macular degeneration (wet AMD)."
“On behalf of the management team at Adverum, I’d like to extend
a warm welcome to David,” added Laurent Fischer, M.D., president
and chief executive officer of Adverum. “David’s long and varied
career in pharmaceutical R&D includes the development of
innovative treatment modalities across multiple therapeutic areas,
such as ophthalmology (Xen Gel Stent, Durysta), depression
(Remeron), schizophrenia (Saphris, Vraylar), and oncology
(Keytruda), among others. His experience shepherding therapeutics
from concept through commercialization, together with his deep
ophthalmology expertise, will be invaluable as we advance Ixo-vec
through pivotal studies and ultimately commercialization.”
“I am delighted to join Adverum’s board and to help Adverum
bring wet AMD patients a transformational gene therapy option that
has the potential to improve upon real-world outcomes of anti-VEGF
therapy with a single, intravitreal injection,” stated Dr.
Nicholson. “This is an exciting time for the company as it looks
forward to releasing data from its ongoing Phase 2 LUNA trial and
moving Ixo-vec into registrational trials.”
Dr. Nicholson previously served as executive vice president and
chief research and development officer of Allergan, prior to its
acquisition by AbbVie in May 2020. Prior to Allergan, Dr. Nicholson
served on the executive committee of Bayer CropScience as executive
vice president of research and development and chief technology
officer; as senior vice president of licensing and knowledge
management at Merck; as senior vice president at Schering-Plough,
responsible for global project management and drug safety; and in
multiple positions of increasing responsibility including
ultimately as executive vice president of research and development
at Organon. Dr. Nicholson currently serves as the non-executive
chair of the boards of directors of Exscientia and Wild Bioscience,
a member of the board of directors of Volastra, the lead
independent director of Actinium Pharmaceuticals, and an
operational partner at Gilde Healthcare. Dr. Nicholson received his
B.S. from the University of Manchester and his Ph.D. from the
University of Wales.
About Adverum BiotechnologiesAdverum
Biotechnologies (NASDAQ: ADVM) is a clinical-stage company that
aims to establish gene therapy as a new standard of care for highly
prevalent ocular diseases with the aspiration of developing
functional cures to restore vision and prevent blindness.
Leveraging the capabilities of its proprietary intravitreal (IVT)
platform, Adverum is developing durable, single-administration
therapies, designed to be delivered in physicians’ offices, to
eliminate the need for frequent ocular injections to treat these
diseases. Adverum is evaluating its novel gene therapy candidate,
ixoberogene soroparvovec (Ixo-vec, formerly referred to as
ADVM-022), as a one-time, IVT injection for patients with
neovascular or wet age-related macular degeneration. Additionally,
by overcoming the challenges associated with current treatment
paradigms for debilitating ocular diseases, Adverum aspires to
transform the standard of care, preserve vision, and create a
profound societal impact around the globe. 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 the
potential benefits of Ixo-vec in the treatment of wet AMD,
anticipated release of preliminary and interim data from the LUNA
trial and advancement of Ixo-vec to Phase 3 and commercialization.
Actual results could differ materially from those anticipated in
such forward-looking statements as a result of various risks and
uncertainties, including risks inherent to, without limitation:
Adverum’s novel technology, which makes it difficult to predict the
timing of commencement and completion of clinical trials;
regulatory uncertainties; enrollment uncertainties; the results of
early clinical trials not always being predictive of future
clinical trials and results; and the potential for future
complications or side effects in connection with use of Ixo-vec.
Additional risks and uncertainties facing Adverum are set forth
under the caption “Risk Factors” and elsewhere in Adverum’s
Securities and Exchange Commission (SEC) filings and reports,
including Adverum’s Quarterly Report on Form 10-Q for the quarter
ended June 30, 2023 filed with the SEC on August 10, 2023. 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,
except as required by law.
Inquiries: Adverum Investor RelationsEmail:
ir@adverum.com
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