Adverum Biotechnologies Appoints Star Seyedkazemi, Pharm.D. as Chief Development Officer

REDWOOD CITY, Calif., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that Star Seyedkazemi, Pharm.D., joined Adverum as the company's chief development officer. Dr. Seyedkazemi will serve as a member of Adverum's executive committee and will report to Laurent Fischer, M.D., president and chief executive officer at Adverum Biotechnologies. Dr. Seyedkazemi will provide leadership for the company's development programs, including global clinical operations, program strategy and project management.

"I am pleased to welcome Star to Adverum as we advance ADVM-022, our lead clinical program utilizing our proprietary vector capsid AAV.7m8, for the treatment of wet age-related macular degeneration," stated Dr. Laurent Fischer, president and chief executive officer at Adverum Biotechnologies. "Dr. Seyedkazemi brings a wealth of experience in clinical development, clinical operations and program management of small molecules and biologics at biotechnology and large pharmaceutical companies, which will prove to be tremendously important as we advance ADVM-022 to a Phase II trial and toward future registrational studies."

"I am thrilled to join the Adverum as we work to bring ADVM-022 to the five million patients suffering from wet AMD worldwide," stated Star Seyedkazemi, Pharm.D., chief development officer of Adverum Biotechnologies. "The ability to dose ADVM-022 as a single, in-office intravitreal injection, rather than the current standard of care requiring frequent intravitreal injections, has the potential to fundamentally shift the treatment paradigm for patients suffering from wet AMD globally. I look forward to leveraging my clinical research and development experience to help the team achieve its goals of advancing the development of ADVM-022 and other exciting pipeline projects that bring potentially transformational treatments to patients."

Dr. Star Seyedkazemi most recently served as vice president, portfolio management for research and development at Pliant Therapeutics. Before joining Pliant, Dr. Seyedkazemi served as associate vice president clinical development at Allergan (acquired by AbbVie in May 2020), where she was responsible for clinical and global program leadership for the development of cenicriviroc for the treatment of liver fibrosis associated with nonalcoholic steatohepatitis (NASH). Dr. Seyedkazemi has more than 16 years of pharmaceutical industry experience in corporate leadership, global drug development program leadership, clinical development and operations, global and U.S. medical affairs, and program management across multiple therapeutics areas, including fibrosis, NASH, hepatitis C and HIV at Allergan, Tobira Therapeutics (acquired by Allergan in November 2016), Gilead Sciences, Johnson & Johnson and Abbott Laboratories, preceded by seven years in HIV clinical care and research.

Dr. Seyedkazemi received a Bachelor of Science in Biology from Florida Atlantic University and a Doctor of Pharmacy from Nova Southeastern University, where she also completed a HIV/Infectious Disease residency.

Inducement Grant

On January 6, 2021, the company granted Dr. Seyedkazemi a stock option to purchase 425,000 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 her 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 her continued service with Adverum.

About Adverum Biotechnologies

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 patients with neovascular or wet age-related macular degeneration (wet AMD).   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 the role in which Dr. Seyedkazemi will serve and the benefits that she is expected to bring to Adverum. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Risks and uncertainties facing Adverum are described more fully in Adverum's Form 10-Q filed with the SEC on November 4, 2021, 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.

Inquiries

Anand Reddi

Vice President, Head of Corporate Strategy and External Affairs & Engagement

Adverum Biotechnologies, Inc.

T: 650-649-1358

Or

Laurence Watts

Gilmartin Group

T: 619-916-7620

E: [email protected]

Source: Adverum Biotechnologies, Inc.