GlobeNewswire Inc | Mar 18, 2021 04:00PM EDT

March 18, 2021

REDWOOD CITY, Calif., March 18, 2021 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (Nasdaq: ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced a grant of stock options to a new employee. On March 15, 2021, the company granted the new employee a stock option to purchase 80,000 shares of Adverums common stock pursuant to the inducement grant exception under Nasdaq Rule 5635(c)(4), as an inducement that is material to the employee entering into employment with Adverum. The option has a per share exercise price equal to the closing sales price of Adverums common stock on the Nasdaq Stock Market on the grant date, and will vest over four years, subject to the employees continued service with Adverum.

About Adverum BiotechnologiesAdverum Biotechnologies (Nasdaq: ADVM) is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing the clinical development of its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema. For more information, please visit www.adverum.com.

Investor Relations ContactMyesha LacyAdverum Biotechnologies, Inc.T: 650-649-1257E: mlacy@adverum.com

Media ContactAndrea CohenSam Brown Inc.T: 917-209-7163E: andreacohen@sambrown.com