Avidity Biosciences Expands Role of Michael MacLean to Chief Financial and Chief Business Officer
Avidity Biosciences, Inc. (Nasdaq: RNA) has announced the expansion of Michael MacLean's role to Chief Financial and Chief Business Officer. His leadership has been crucial in guiding the company through its transition to a publicly-traded, clinical-stage biopharmaceutical firm. MacLean will oversee finance, business development, supply chain, and investor relations while advancing the company's innovative RNA therapeutic platform, Antibody Oligonucleotide Conjugates (AOCs). Avidity aims to initiate three rare disease programs in clinical trials by the end of 2022.
- Michael MacLean's expanded role suggests a strategic focus on business development, which may enhance growth opportunities.
- Avidity is on track to launch three clinical programs by the end of 2022, indicating progress in development.
- The forward-looking statements caution that Avidity's approach and its therapeutic candidates are unproven, posing risks to future success.
- Potential delays in clinical trials and uncertainties about product efficacy could adversely affect regulatory approval and commercialization.
SAN DIEGO, April 5, 2022 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced that Michael MacLean, currently the chief financial officer, has expanded his role to include responsibilities as chief business officer.
"Mike's leadership, strategic thinking and operating expertise have been instrumental in the success of Avidity over these past two years as we transitioned into a publicly-traded, clinical-stage biopharmaceutical company," said Sarah Boyce, president and chief executive officer. "I am pleased that he is taking on these expanded responsibilities as his input and guidance will be invaluable to the team as we advance our clinical development programs and progress our innovative AOC platform technology across a range of therapeutic areas."
As the chief financial and chief business officer, Mr. MacLean now leads finance, business development, supply chain and investor relations as Avidity advances its AOC platform and works toward the goal of having three distinct rare disease programs in the clinic by the end of 2022.
Mr. MacLean brings decades of industry experience to Avidity, with deep experience in funding biotechnology companies, developing strategic plans, partnering novel technologies and advancing novel therapies in the rare and orphan disease areas through to commercialization. Prior to joining Avidity, Mr. MacLean served as chief financial officer of Akcea Therapeutics, Inc. where he led the buildout of Akcea's financial and global infrastructure. Prior to Akcea, Mr. MacLean served as chief financial officer of PureTech Health, plc, as well as chief accounting officer of Biogen Inc. where he led the company's worldwide finance operations.
"I am proud to be part of the Avidity team that is well on the path to realizing its vision to profoundly improve the lives of people affected by serious diseases. We have assembled a talented team and I look forward to continuing to work closely with them and other senior leaders as we deliver on our vision," said Mr. MacLean, chief financial and chief business officer.
About Avidity
Avidity Biosciences, Inc.'s mission is to profoundly improve people's lives by delivering a new class of RNA therapeutics - Antibody Oligonucleotide Conjugates (AOCsTM). Avidity's proprietary AOCs are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to target the root cause of diseases previously untreatable with RNA therapeutics. Avidity is on track to have three programs in clinical development by the end of 2022. The company's lead product candidate, AOC 1001, is designed to treat patients with myotonic dystrophy type 1 (DM1). AOC 1001 has commenced clinical testing with the ongoing Phase 1/2 MARINATM trial in adults with DM1. The next programs in the company's advancing and expanding pipeline are AOC 1044, the lead of three programs for the treatment of DMD, and AOC 1020, designed to treat people living with FSHD. Avidity anticipates both programs will enter the clinic by the end of 2022. Avidity is also broadening the reach of AOCs beyond muscle tissues through both internal discovery efforts and key partnerships as the company continues to deliver on the RNA revolution. Avidity is headquartered in San Diego. For more information about our science, pipeline and people, please visit www.aviditybiosciences.com and engage with us on LinkedIn and Twitter.
Forward-Looking Statements
Avidity cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements and cautions readers not to place undue reliance on these forward-looking statements. These statements are based on the company's current beliefs and expectations, and the company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. Such forward-looking statements include, but are not limited to, statements regarding: the potential to develop a meaningful pipeline of novel AOC therapeutics; the progression of clinical programs for AOCs; and the broad potential of AOCs to treat rare and serious diseases. The inclusion of forward-looking statements should not be regarded as a representation by Avidity that any of these plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the business, including, without limitation: Avidity is early in its development efforts; Avidity's approach to the discovery and development of product candidates based on its AOC platform is unproven, and the company does not know whether it will be able to develop any products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials; the success of its preclinical studies and clinical trials for the company's product candidates; the results of preclinical studies and early clinical trials are not necessarily predictive of future results; unexpected adverse side effects or inadequate efficacy of its product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; and other risks described in prior press releases and in filings with the Securities and Exchange Commission (SEC). All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Company Contact:
Kath Gallagher
kath.gallagher@aviditybio.com
(858) 401-7900
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SOURCE Avidity Biosciences, Inc.
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