Adverum Biotechnologies Provides ADVM-022 Development Update and Anticipated Corporate Milestones for 2022
22 December 2021 - 12:00AM
Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene
therapy company targeting unmet medical needs in ocular and rare
diseases, today announced the completion of a review of its
ADVM-022 program, outlined plans for the next stage of development
in wet age-related macular degeneration (wet AMD) and provided
anticipated key milestones for 2022.
Dr. Laurent Fischer, M.D., president and chief executive officer
at Adverum Biotechnologies, stated: “We are pleased to
conclude a thorough review of the totality of data generated in all
55 patients treated with ADVM-022, in wet AMD and diabetic macular
edema, some of whom have been followed for over 2.5 years. The data
analysis confirms our strategy to advance development of ADVM-022
in wet AMD. We intend to conduct a Phase 2 trial of ADVM-022 in wet
AMD at 2 X 10^11 vg/eye dose and a new lower 6 X 10^10 vg/eye dose,
with three new enhanced steroid prophylaxis regimens including
topical, intravitreal and a combination of systemic and local
steroids. Based on learnings from the OPTIC and INFINITY trials and
extensive preclinical datasets, as well as the input and support of
experts and members of our Scientific Advisory Board, we are
confident in the plans we are sharing today to safely develop
ADVM-022 in wet AMD, realizing the promise and full potential of
our innovative gene therapy.”
Dr. Fischer continued, “I believe we have the right plan in
place to establish the benefits and safety of ADVM-022 and progress
our development pipeline. We have focused our capital on our
development strategy prudently, with adequate financial resources
in hand to complete the planned Phase 2 study, and I very much look
forward to providing an update on our progress in 2022.”
Future Development of ADVM-022 for Wet AMD:
Phase 2 Trial Design. Subject to regulatory
review, Adverum is finalizing the design for a Phase 2 trial of
ADVM-022 in wet AMD investigating the 2 X 10^11 (2E11) vg/eye dose
and a lower 6 X 10^10 vg/eye (6E10) vg/eye dose, with three new
enhanced steroid prophylaxis regimens, which the company
anticipates will include a topical, intravitreal (IVT) and a
combination of systemic and local steroids. The trial is expected
to enroll approximately 72 patients and evaluate similar endpoints
to the Phase 1 OPTIC trial in wet AMD. This study design is
based on extensive analysis conducted by the company’s clinical
development team and incorporates feedback from Adverum’s
scientific advisory board and key retina, uveitis and gene therapy
experts.
- IND Amendment. Adverum intends to file an
investigational new drug (IND) amendment in the first half of 2022
and engage with the FDA with the aim of securing agreement on the
Phase 2 trial design. The company anticipates completing this
process by mid-2022.
- Phase 2 Initiation. Adverum is beginning
preparations for the Phase 2 trial of ADVM-022 in wet AMD, with the
intention of dosing the first patient in Q32022. Early feedback
from potential Phase 2 investigators suggests completion of trial
enrollment by year end 2022.
- Fully Resourced. Adverum reiterates its
expectation that its cash position is sufficient to fund the
company’s operations, including its development plans for ADVM-022,
into 2024.
"The long-term efficacy seen in the OPTIC trial after a single
injection of ADVM-022 has been remarkable for my patients, who
required frequent injections prior to entering the trial. The
long-term safety data supports using the lower 2E11 vg/eye
dose and a new lower 6E10 vg/eye dose with an enhanced steroid
prophylaxis regimen. I look forward to evaluating ADVM-022’s
potential to provide a safe and durable gene therapy from a single,
in-office injection in patients with wet AMD in the upcoming Phase
2 trial," said Arshad M. Khanani M.D., M.A., managing partner and
director of clinical research, Sierra Eye Associates, member of
Adverum’s Scientific Advisory Board, and the highest enrolling
investigator in the wet AMD Phase 1 OPTIC trial.
Review of ADVM-022 Program:
During the second half of 2021, Adverum undertook a
comprehensive review of the company’s ADVM-022 program, including
analysis of its preclinical and clinical data. The review
solidified the following rationale underpinning the development
strategy and Phase 2 study design outlined today for ADVM-022 in
wet AMD:
- Phase 1 Clinical Outcomes of ADVM-022 in Wet
AMD:
- In October 2021, Adverum presented two-year follow-up data from
its Phase 1 OPTIC study in wet AMD patients at the Retina Society’s
54th Annual Scientific Meeting. The data presented demonstrated a
greater than 80% reduction in annualized anti-VEGF injections
following the 2E11 vg/eye ADVM-022 IVT injection that is expected
to be validated in the Phase 2 study.
- ADVM-022 in wet AMD has been well tolerated and ocular
inflammation was minimal and responsive to steroid eye drops. At
latest visit, all 2E11 vg/eye patients were inflammation-free and
none required any steroid eye drops to treat inflammation.
- Underlying Pathology and
Patient Characteristics:
- The INFINITY data in diabetic
macular edema (DME) indicate that poorly controlled diabetes with
presence of microvascular and macrovascular diabetic complications
are important criteria in the identification of an appropriate
patient population for ADVM-022, and these criteria have been
considered in the proposed design of the Phase 2 trial in wet
AMD.
- Patient Safety Update:
- No clinically relevant reduction in intraocular pressure (IOP)
was observed in the 2E11 vg/eye dose group in wet AMD or DME in
either OPTIC or INFINITY trials, respectively. Additionally, in the
OPTIC trial, clinically relevant IOP decreases were not observed at
the 6 X 10^11 (6E11) vg/eye doses in wet AMD patients. No OPTIC
patients with diabetes at both 6E11 and 2E11 in wet AMD, had
clinically meaningful reduction in IOP.
- Adverum worked with its advisors and investigators to develop a
treatment plan to halt progression to hypotony in DME patients who
previously received the 6E11 vg/eye dose (a dose-limiting toxicity)
in the INFINITY trial. While Adverum is no longer pursuing an
indication in DME or continuing development of the 6E11 vg/eye dose
in wet AMD, all patients who experienced hypotony in the 6E11
vg/eye dose in INFINITY have stabilized and the majority recovered
a significant amount of vision following the treatment plan.
- ADVM-022 Dosing:
- The company will evaluate a new lower dose of 6E10 vg/eye
alongside the 2E11 vg/eye dose used in the OPTIC study. Adverum
plans to submit data, including relevant non-human primate protein
expression supporting the 6E10 vg/eye dose in humans, at an
upcoming 2022 medical conference.
- Adverum also undertook an analysis of the impact of baseline
neutralizing antibodies (NAbs) to AAV.7m8, the company’s novel
capsid, on ADVM-022’s treatment benefit to potentially inform the
planned Phase 2 trial design. Importantly, in OPTIC patients, the
>80% reduction in annualized anti-VEGF injections observed at
the 2E11 vg/eye dose further increased when patients with high NAbs
were excluded. These data are expected to be submitted to a medical
conference in 2022.
- Enhanced Steroid
Prophylaxis:
- Adverum, in consultation with experts in retina, uveitis and
gene therapy, is pursuing three steroid prophylaxis regimens as
part of the Phase 2 study with the goal of establishing a
predictable and effective prophylaxis to administer with ADVM-022
IVT gene therapy. Subject to regulatory review, the steroid
prophylaxis treatments under consideration includes a local topical
steroid regimen that is longer in duration than in the OPTIC trial,
a local-IVT steroid to facilitate patient adherence, and an oral
systemic steroid in combination with a local steroid option.
Leadership Update:
Today, Adverum indicated its plans to hire a chief development
officer and a chief medical officer. Additionally, the board of
directors is actively pursuing the addition of two new directors
with gene therapy and operational expertise with the departures of
Mehdi Gasmi, Ph.D. and Thomas F. Woiwode, Ph.D. from the Board,
reported separately today.
“On behalf of Adverum and its board, I would like to thank Mehdi
and Tom for their invaluable contributions, distinguished service
and counsel over the years. Mehdi was instrumental in advancing
development of ADVM-022, serving as Adverum’s past president and
chief scientific officer before joining the Board in 2019. Tom has
been a tremendous board member and major investor, helping guide
and finance the company from preclinical to clinical stage. We wish
them both well in all their future endeavors,” said Patrick
Machado, J.D., board chair of Adverum. “Adverum is in the process
of considering additions to its board of directors, with a focus on
adding further expertise in gene therapy and has engaged a search
firm to identify a diverse slate of candidates.”
Expected Near-Term Milestones
- 1H2022 – Anticipated leadership appointments to executive team
and Board of Directors
- 2Q2022 – Present protein expression data supporting an ADVM-022
6E10 vg/eye dose at a medical conference
- 2Q2022 – Present data on baseline NAbs and ADVM-022 efficacy at
a medical conference
- Mid-2022 – Complete IND amendment process to enable initiation
of Phase 2 trial of ADVM-022 in wet AMD
- 3Q2022 – Plan to dose first patient in Phase 2 trial of
ADVM-022 in wet AMD
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 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 Adverum’s plans to advance a Phase 2 trial of
ADVM-022 in wet AMD at 2 X 10^11 vg/eye dose and a lower 6 X 10^10
vg/eye dose; statements under the caption “Future Development of
ADVM-022 for Wet AMD,” including Adverum’s expected current cash
runway; Adverum’s plans to hire a chief development officer and a
chief medical officer, and to add two new directors to the Board;
and statements under the caption “Expected Near-Term Milestones.”
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
time and cost of product candidate development and regulatory
uncertainties; the results of early clinical trials not always
being predictive of future results; the potential for future
complications or side effects in connection with use of ADVM-022;
and other risks and uncertainties facing Adverum 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 GroupT: 619-916-7620E:
laurence@gilmartinir.com
Source: Adverum Biotechnologies, Inc.
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