Adverum Biotechnologies Expands Leadership Team with the Appointment of Peter Soparkar as Chief Legal Officer
31 October 2019 - 7:01AM
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 seasoned life sciences
executive Peter Soparkar as chief legal officer. Most recently, Mr.
Soparkar served as chief legal officer and head of human resources
at Counsyl, Inc., prior to the company’s sale to Myriad Genetics
and spent 10 years at Jazz Pharmaceuticals, most recently as their
vice president and associate general counsel.
“We are pleased to welcome Peter to our leadership team as he
brings deep legal and organizational experience,” said Leone
Patterson, chief executive officer, Adverum Biotechnologies. “His
breadth of industry knowledge and expertise managing through
strategic business initiatives will be invaluable as we continue to
advance our clinical and strategic plans to advance and expand our
pipelines.”
Mr. Soparkar commented, “I’m excited to join Adverum at this
pivotal time for the company. I look forward to working with the
team to maximize Adverum’s potential of becoming a leader in the
gene therapy space, focusing on developing new therapy options for
patients with serious ocular and rare diseases.”
Mr. Soparkar has over 15 years of legal experience, including
corporate development, corporate governance, legal, regulatory,
commercial, and public compliance activities, for biotechnology
companies as well as at a leading international law firm. Prior to
joining Adverum, Mr. Soparkar was chief legal officer and head of
human resources at Counsyl, Inc., a privately held genetic
diagnostics company, where he also served as corporate secretary
and head of compliance. He was instrumental in negotiating and
executing the sale of Counsyl to Myriad Genetics in 2018. From 2006
- 2016, Mr. Soparkar was at Jazz Pharmaceuticals, where he led the
legal team’s support of company operations and other business
matters, including delivering on numerous debt and equity
financings and four landmark transactions which included the
launched tender-offer of Celator, the acquisitions of Italy-based
Gentium, UK based EUSA Pharma, and the acquisition of and inversion
into Ireland-based Azur Pharma. Prior to Jazz, Mr. Soparkar worked
at Latham & Watkins in London and San Francisco, with a
practice spanning international and domestic markets, as well as
private and public transactions. He received a J.D. from New York
University and a B.A. in economics and politics from Oberlin
College.
On the date Mr. Soparkar commenced employment with Adverum, the
company granted Mr. Soparkar a stock option to purchase 400,000
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, Inc.Adverum
Biotechnologies (Nasdaq: ADVM) is a clinical-stage gene therapy
company targeting unmet medical needs for 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 its lead indication, wet age-related macular degeneration. For
more information, please visit www.adverum.com.
Investor and Media Inquiries:
Investors:Myesha LacyAdverum BiotechnologiesVice President,
Investor Relations and Corporate
Communicationsmlacy@adverum.com1-650-304-3892
Media:Cherilyn Cecchini, M.D.Account
Supervisorccecchini@lifescipublicrelations.com 1-646-876-5196
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