Adverum Biotechnologies Appoints Rupert D’Souza, Ph.D., M.B.A. as Chief Financial Officer
07 December 2021 - 1:00AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced that Rupert D’Souza, Ph.D., M.B.A., has
joined Adverum as the company’s chief financial officer (CFO). Dr.
D’Souza 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. D’Souza will provide
leadership for the company’s financial operations and planning,
accounting, procurement, and select other functions.
“On behalf of the entire company, I am delighted to welcome
Rupert to Adverum and look forward to partnering with him as we
advance the company’s strategy together,” said Dr. Laurent Fischer,
president and chief executive officer at Adverum Biotechnologies.
“As CFO, Dr. D’Souza will play a critical role as we shape and
build the company. This includes augmenting our highly experienced
executive team to fulfill the promise of our pipeline, including
the development of ADVM-022 in wet age-related macular
degeneration. I very much look forward to his service and counsel
over the coming years.”
“I was drawn to Adverum by the company’s potential
transformative gene therapy treatments for ocular and rare
diseases,” said Rupert D’Souza, Ph.D., M.B.A., chief financial
officer of Adverum Biotechnologies. “With Adverum’s strong
financial position and projected cash runway into 2024, I look
forward to leveraging my financial expertise to progress the
company’s plans to advance a Phase 2 clinical trial in wet AMD next
year, and to play an integral role in Adverum achieving its full
potential as a diversified gene therapy company.”
Dr. D’Souza most recently served as chief financial officer
consultant at Replay Holdings, LLC, a venture capital-funded, gene
therapy-focused, biotechnology holding company, where he was
responsible for leading all finance and human resources activities.
Prior to Replay Holdings, Dr. D’Souza was the founder and chief
financial officer consultant at RMND LLC, a business development
agency. Before that Dr. D’Souza held roles of increasing
responsibility at several companies, including, Armanino LLP,
BioMarin Pharmaceuticals, UTStarcom Inc., and Genentech.
Dr. D’Souza received a B.Tech. in Chemical Engineering from the
Indian Institute of Technology, Bombay, a Ph.D. in Chemical and
Biomolecular Engineering from Georgia Institute of Technology, and
an M.B.A. from the University of Chicago Booth School of
Business.
Inducement Grant
On December 6, 2021, the company granted Dr. D’Souza 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
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 wet age-related macular degeneration.
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. D’Souza 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
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 ReddiVice President, Head of Corporate Strategy and
External Affairs & EngagementAdverum Biotechnologies, Inc.T:
650-649-1358OrLaurence WattsGilmartin Group(619)
916-7620laurence@gilmartinir.com
Source: Adverum Biotechnologies, Inc.
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