Industry leader brings expertise in finance, M&A and operations as former CFO of gene therapy company, AveXis, Inc.
CAMBRIDGE, Mass., June 27, 2018 (GLOBE NEWSWIRE) -- AVROBIO, Inc. (NASDAQ:AVRO), a Phase 2 clinical stage gene therapy company focused on developing potentially curative lentiviral-based gene therapies to treat rare diseases following a single dose, today announced the appointment of Phillip B. Donenberg to its Board of Directors. Mr. Donenberg brings more than 23 years of leadership expertise in finance, mergers and acquisitions (M&A) and operations focused in the pharmaceutical and healthcare industries. His background includes recent experience with a gene therapy biotech company, AveXis, Inc., where he served as the Chief Financial Officer and Senior Vice President until June 15, 2018, following its acquisition by Novartis. Mr. Donenberg joined as an independent director of AVROBIO effective as of June 20, 2018.
“Phil brings a strong track record of success and leadership experience in the field of gene therapy that is directly relevant to our business and stage of growth at AVROBIO,” said Geoff MacKay, President and CEO of AVROBIO. “We are delighted to welcome Phil to the AVROBIO board, and we look forward to working together.”
Mr. Donenberg has held leadership roles overseeing strategic transactions, financing management and accounting operations, controls and reporting processes for growing companies. Most recently, he has been appointed as Chief Financial Officer and Senior Vice President of Depomed, Inc., effective July 16, 2018. Previously, Mr. Donenberg was the Chief Financial Officer at RestorGenex Corporation from 2014 to 2016, when RestorGenex merged with Diffusion Pharmaceuticals, Inc. From 1998 to 2013, Mr. Donenberg served as the Chief Financial Officer at BioSante Pharmaceuticals, Inc. until the merger of the company with ANIP Pharmaceuticals, Inc. Mr. Donenberg earned a bachelor's degree in accountancy from the University of Illinois, and he is a Certified Public Accountant.
“I am excited to become part of the AVROBIO organization as the company continues to advance gene therapies for patients with rare diseases,” said Mr. Donenberg. “It’s a promising time to build on the company’s progress to date, and I look forward to working with the AVROBIO team on the opportunities ahead for the company and for patients."
About AVROBIO, Inc.
AVROBIO, Inc. is a Phase 2 clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose. AVROBIO’s gene therapies employ hematopoietic stem cells that are extracted from the patient and then modified with lentiviral vectors to insert a functional copy of the gene that is defective in the target disease. AVROBIO is focused on the development of its gene therapy, AVR‑RD‑01, in Fabry disease, as well as additional gene therapy programs in other lysosomal storage disorders including Gaucher disease, cystinosis and Pompe disease. AVROBIO is headquartered in Cambridge, MA and has offices in Toronto, ON. For additional information, visit www.avrobio.com.
Cautionary Note Regarding Forward-Looking Statements
Various express or implied statements in this release concerning AVROBIO’s future expectations, plans and prospects, including without limitation, its expectations regarding the contributions of any member of its board of directors, including such member’s ability to affect AVROBIO’s development or growth plans, and statements regarding the development and the continued progress of AVROBIO’s programs, and the therapeutic potential of its product candidates, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Any forward-looking statements in this press release are based on management’s current expectations of future events only as of today and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that any one or more of AVROBIO’s product candidates will not be successfully developed or commercialized, the risk of cessation or delay of any of AVROBIO’s ongoing or planned clinical trials, and the risk that the results of previously conducted studies will not be repeated or observed in ongoing or future studies involving AVROBIO’s product candidates. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause AVROBIO’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in the final prospectus related to AVROBIO’s initial public offering filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act of 1933, as amended, as well as discussions of potential risks, uncertainties and other important factors in AVROBIO’s subsequent filings with the Securities and Exchange Commission. AVROBIO explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
Katina DortonAVROBIO, Inc.
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Source: AVROBIO, Inc.