Adverum Announces Appointment of Jon Williams, Ph.D., as Vice President, Clinical Affairs

Rhea-AI Summary

Adverum Biotechnologies (Nasdaq: ADVM) announced the appointment of Jon Williams, Ph.D., as vice president of clinical affairs, effective immediately. With 25 years of experience in drug development and regulatory strategies, Dr. Williams will enhance the clinical development of the novel gene therapy candidate ADVM-022. He previously held significant roles at Bausch Health and Aerie Pharmaceuticals, contributing to multiple successful product developments. Additionally, Dr. Williams received a stock option grant of 100,000 shares, vesting over four years, contingent on his continued service.

Positive

• Jon Williams brings 25 years of experience in clinical and preclinical drug development.
• His expertise in ocular diseases and clinical trial management can strengthen ADVM-022's development.
• The appointment may lead to enhanced strategic direction in the company's clinical programs.

Negative

• Concerns about leadership continuity and potential experience gaps in clinical affairs may arise.

REDWOOD CITY, Calif., July 01, 2021 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the appointment of Jon Williams, Ph.D., as vice president, clinical affairs, effective immediately. Dr. Williams will provide scientific and technical expertise and leadership across Adverum’s clinical development program for ADVM-022, reporting to Julie Clark, M.D., chief medical officer.

“Jon is a dynamic scientist and prolific published researcher, bringing 25 years of experience in clinical and preclinical drug and medical device development and regulatory strategies to this new position at Adverum,” said Julie Clark, M.D., chief medical officer at Adverum Biotechnologies. “His comprehensive knowledge of ocular diseases including angiogenic retinal disease, strategic clinical trial design and execution across all phases of ophthalmic product development will be valuable for our ADVM-022 clinical development program and our pipeline.”

“Ocular gene therapy to treat retinal diseases is an exciting field with the potential to transform the current standard of care for patients,” said Dr. Williams. “Adverum is propelling this therapeutic area forward in bold new ways and I am excited to join the company and further its efforts in developing novel therapies.”

Dr. Williams joins Adverum from Bausch Health Companies, where he served as senior director, clinical affairs and was responsible for leading clinical science and medical writing for ophthalmic medical device projects. Previously, he worked at Aerie Pharmaceuticals as director, clinical trial management and medical strategy, and managed clinical protocol development and progress leading to the New Drug Application (NDA) submission for Rhopressa^®. Prior to Aerie, Dr. Williams held the positions of director, medical affairs and director, clinical affairs at Bausch + Lomb Incorporated. While there, he was clinical lead for Phase 3 and Phase 4 post-operative steroid treatment programs in adult and pediatric patient populations undergoing cataract surgery. He also served as director of clinical research at ISTA Pharmaceuticals where he led a cross-functional clinical team effort that achieved U.S. regulatory approval of Bepreve^® and he wrote Phase 3 multisite clinical protocols and NDA sections for Xibrom^TM and Bromday^TM.  Previous to that, he was instrumental in characterizing the novel anti-angiogenic nature of Squalamine, a natural aminosterol product, in several animal models of systemic or ocular disease while executive director for biological research at Magainin Pharmaceuticals.

Dr. Williams earned a Ph.D. in biophysics from the University of California, San Francisco, and holds a Bachelor of Science in physics, with honors, from Harvey Mudd College. In addition, he completed an N.I.H. Public Health Services post-doctoral fellowship in cancer biology in the Department of Pathology, Stanford University Medical Center.

On July 1, 2021, the company granted Dr. Williams 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 Biotechnologies
Adverum 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: the role in which Dr. Williams will serve and the benefits that he 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 May 6, 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.

FAQ

What is the significance of Jon Williams' appointment at Adverum (ADVM)?

Jon Williams' appointment as VP of clinical affairs is significant as he brings extensive experience in drug development and will lead efforts for the ADVM-022 clinical program.

What experience does Jon Williams have relevant to Adverum (ADVM)?

Jon Williams has 25 years of experience, including roles at Bausch Health and Aerie Pharmaceuticals, focusing on clinical trial management and product development in ocular diseases.

What stock options were granted to Jon Williams by Adverum (ADVM)?

Jon Williams was granted a stock option to purchase 100,000 shares of Adverum's common stock, vesting over four years.

How might Jon Williams impact Adverum's (ADVM) clinical programs?

Dr. Williams' expertise in strategic clinical trial design and execution could significantly enhance Adverum's clinical programs and pipeline development.