AVROBIO, Inc. Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
CAMBRIDGE, Mass., Dec. 18, 2018 (GLOBE NEWSWIRE) -- AVROBIO, Inc. (NASDAQ: AVRO), (“The Company”) a Phase 2 clinical-stage gene therapy company, today announced the grant of non-qualified stock options to purchase 293,000 shares of common stock, effective on December 17, 2018. Such options were previously approved by the Compensation Committee, as a material inducement to the employment of Dr. Birgitte Volck, M.D., Ph.D., the Company’s new President of Research and Development. The equity awards were approved in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price of $21.76 per share, and 25% of which will vest on the one-year anniversary of the grant date and thereafter 1/48th of the options will vest monthly thereafter.
About AVROBIO, Inc.
AVROBIO, Inc., is a Phase 2 clinical-stage gene therapy company developing gene therapies to potentially cure rare diseases with a single dose. AVROBIO’s lentiviral-based gene therapies employ hematopoietic stem cells that are collected from the patient and then modified with a lentiviral vector 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.
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