Adverum Biotechnologies Announces Upcoming Data Presentation at ASRS 2022

Rhea-AI Summary

Adverum Biotechnologies (Nasdaq: ADVM) will present new data from the Phase 1 OPTIC study of ADVM-022 (ixoberogene soroparvovec) for treating wet age-related macular degeneration (wet AMD) at the ASRS 2022 Annual Meeting on July 15, 2022. The presentation will highlight best-corrected visual acuity (BCVA) results and aflibercept protein expression data up to three years post-treatment. Wet AMD affects about 20 million people globally and is a leading cause of blindness in older adults. ADVM-022 offers a one-time IVT injection alternative to frequent anti-VEGF treatments, aiming to improve patient compliance and visual outcomes.

- Adverum to present new best-corrected visual acuity (BCVA) data from the OPTIC Trial of ADVM-022 (ixoberogene soroparvovec) in wet AMD

REDWOOD CITY, Calif., July 08, 2022 (GLOBE NEWSWIRE) -- 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 that new data from the Phase 1 OPTIC study of ADVM-022 (AAV.7m8-aflibercept) development program in wet age-related macular degeneration (wet AMD) will be presented next week during the American Society of Retina Specialists (ASRS) 2022 Annual Meeting in New York City. The presentation will include new best-corrected visual acuity (BCVA) results, as well as the previously reported aflibercept protein expression data through three years post-treatment with ADVM-022 (ixoberogene soroparvovec).

Oral Presentation Title: ADVM-022 (ixoberogene soroparvovec) Intravitreal Gene Therapy for Neovascular AMD: Phase 1 OPTIC Trial Update
Session: Wet AMD 2 Symposium
Date & Time: July 15, 2022, 8:16 – 8:22 AM EDT
Presenter: Dante Pieramici, M.D., partner, California Retina Consultants

Adverum intends to issue a press release concurrent with the presentation and plans to post the data presented on the Publications page in the Pipeline section of the company’s website.

About Wet Age-Related Macular Degeneration

Wet AMD, also known as neovascular AMD or nAMD, is an advanced form of AMD, affecting approximately 10% of patients living with AMD. Wet AMD is a leading cause of blindness in patients over 65 years of age, with a prevalence of approximately 20 million individuals worldwide living with this condition. The incidence of new cases of wet AMD is expected to grow significantly worldwide as populations age. AMD is projected to impact 288 million people worldwide by 2040, with wet AMD accounting for approximately 10% of those cases.

About OPTIC Trial of ADVM-022 in Wet AMD

ADVM-022, ixoberogene soroparvovec (Ixo-vec), is Adverum’s clinical-stage gene therapy product candidate being developed for the treatment of wet AMD. ADVM-022 (Ixo-vec) utilizes a propriety vector capsid, AAV.7m8, carrying an aflibercept coding sequence under the control of a proprietary expression cassette. Unlike other ophthalmic gene therapies that require a surgery to administer the gene therapy under the retina (sub-retinal approach) ADVM-022 has the advantage of being administered as a one-time IVT injection in the office and is designed to deliver long-term efficacy and reduce the burden of frequent anti-VEGF injections, optimize patient compliance, and improve vision outcomes for patients with wet AMD.

The OPTIC trial is designed as a multi-center, open-label, dose-ranging, safety and efficacy trial of ADVM-022 (Ixo-vec) in patients with wet AMD who have demonstrated responsiveness to anti-VEGF treatment. Patients in OPTIC are treatment experienced, and previously required frequent anti-VEGF injections to manage their wet AMD and to maintain functional vision.

About Adverum Biotechnologies

Adverum Biotechnologies (NASDAQ: ADVM) is a clinical-stage company that aims to establish gene therapy as a new standard of care for a number of highly prevalent ocular diseases with the aspiration of developing functional cures for these diseases to restore vision and prevent blindness. Leveraging the research 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, ADVM-022, ixoberogene soroparvovec (Ixo-vec), as a one-time, IVT injection for patients with neovascular or wet age-related macular degeneration. By overcoming the challenges associated with current treatment paradigms for these 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. 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; 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 ADVM-022. 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 March 31, 2022 filed with the SEC on May 12, 2022. 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.

Corporate & Investor Inquiries

Anand Reddi
Vice President, Head of Corporate Strategy and External Affairs & Engagement
Adverum Biotechnologies, Inc.
T: 650-649-1358

Media

Megan Talon
Associate Director, Corporate Communications
Adverum Biotechnologies, Inc.
T: 650-649-1006
E: mtalon@adverum.com

FAQ

What is the significance of the OPTIC trial results for ADVM-022?

The OPTIC trial results for ADVM-022 are significant as they provide new best-corrected visual acuity (BCVA) data, highlighting the efficacy of this one-time gene therapy treatment for wet AMD.

When will Adverum present data from the OPTIC trial?

Adverum will present the new data from the OPTIC trial on July 15, 2022, at the ASRS 2022 Annual Meeting in New York City.

How does ADVM-022 differ from traditional wet AMD treatments?

ADVM-022 differs from traditional treatments by being a one-time intravitreal injection, which reduces the need for frequent anti-VEGF injections, thus improving patient compliance and overall treatment experience.

What is the potential impact of ADVM-022 on wet AMD patients?

ADVM-022 could significantly impact wet AMD patients by potentially providing long-term vision improvements and reducing the treatment burden associated with frequent injections.

What are the expected outcomes of the OPTIC trial for ADVM?

The expected outcomes of the OPTIC trial for ADVM include demonstrating the safety and efficacy of ADVM-022, which could establish new standards of care for wet AMD treatment.