Avidity Biosciences Announces Pricing of Initial Public Offering

SAN DIEGO, June 11, 2020 /PRNewswire/ — Avidity Biosciences, Inc. (Nasdaq:RNA), a biopharmaceutical company pioneering a new class of oligonucleotide-based therapies called Antibody Oligonucleotide Conjugates (AOCs™), today announced the pricing of its initial public offering of 14,400,000 shares of common stock at a public offering price of $18.00 per share. The shares are expected to begin trading on the Nasdaq Global Market on June 12, 2020 under the ticker symbol “RNA”. All of the shares are being offered by Avidity. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Avidity, are expected to be $259.2 million. The offering is expected to close on June 16, 2020, subject to satisfaction of customary closing conditions. In addition, Avidity has granted the underwriters a 30-day option to purchase up to an additional 2,160,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Cowen, SVB Leerink, Credit Suisse and Wells Fargo Securities are acting as joint book-running managers for the offering.

Registration statements relating to the offering have been filed with the Securities and Exchange Commission and became effective on June 11, 2020. The offering will be made only by means of a prospectus. Copies of the prospectus may be obtained from Cowen and Company LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com; or from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, or by telephone at (800) 808-7525, ext. 6218, or by email at syndicate@svbleerink.com; or from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, Eleven Madison Avenue, 3rd Floor, New York, NY 10010, or by telephone at (800) 221-1037, or by email at usa.prospectus@credit-suisse.com; or from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, NY 10001, or by telephone at (800) 326-5897, or by email at cmclientsupport@wellsfargo.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Avidity Biosciences

Avidity Biosciences, Inc. is pioneering a new class of oligonucleotide-based therapies called AOCs designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity utilizes its proprietary AOC platform to design, engineer and develop therapeutics that combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide therapies in order to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity’s lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1, and its four other muscle programs are focused on the treatment of muscle atrophy, Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy and Pompe disease. In addition to its muscle franchise, Avidity has development efforts focused on immune and other cell types.

Contacts:

Company:
Mike MacLean
(858) 401-7900
mikemac@aviditybio.com

Media and Investors:
Amy Conrad
Juniper Point
(858) 366-3243
amy@juniper-point.com

Avidity Biosciences Appoints Michael MacLean as Chief Financial Officer

SAN DIEGO, May 19, 2020 /PRNewswire/ — Avidity Biosciences (Avidity), a privately-held biopharmaceutical company pioneering Antibody Oligonucleotide Conjugates (AOCs™), announced today the appointment of Michael MacLean as Chief Financial Officer.

“Mike is a leader who has successfully built and led financial teams for several biotechnology companies during their critical phases of growth,” said Sarah Boyce, President and CEO of Avidity. “His financial acumen and operating capabilities make him a great addition to our team. I look forward to working with Mike as we execute on our vision to advance our pipeline of novel AOCs.”

Mr. MacLean brings decades of relevant financial industry experience to Avidity, with deep experience in funding biotechnology companies to advance novel therapies in the rare and orphan disease space.  Most recently, Mr. MacLean served as Chief Financial Officer of Akcea Therapeutics, Inc. where he led the buildout of Akcea’s financial and commercial infrastructure.  Prior to Akcea, Mr. MacLean served as Chief Financial Officer of PureTech Health, plc, as well as Chief Accounting Officer of Biogen Inc. where he led the company’s worldwide finance operations.

“With our AOC approach, Avidity is playing an important role in the next wave of innovation in RNA therapeutics which makes this an exciting time to join the company,” said Mr. MacLean.  “I look forward to working with the team to execute on Avidity’s vision to bring meaningful therapies to patients.”

About Avidity Biosciences

Avidity Biosciences, Inc. is pioneering a new class of oligonucleotide-based therapies called AOCs designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity utilizes its proprietary AOC platform to design, engineer and develop therapeutics that combine the tissue selectivity of monoclonal antibodies (mAbs) and the precision of oligonucleotide therapies in order to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases. Avidity’s lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1 (DM1), and its four other muscle programs are focused on the treatment of muscle atrophy, Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy and Pompe disease. In addition to its muscle franchise, Avidity has development efforts focused on immune and other cell types. In April 2019, Avidity and Eli Lilly announced a strategic collaboration to utilize Avidity’s AOC technology to pursue mRNA targets initially in immunology and other select indications outside of muscle.

For more information, please visit www.aviditybiosciences.com.

Contacts:

Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media and Investors:

Amy Conrad
Juniper Point
858-366-3243
amy@juniper-point.com

Avidity Biosciences Appoints Carsten Boess to its Board of Directors

SAN DIEGO, April 13, 2020 /PRNewswire/ – Avidity Biosciences (Avidity), a privately-held biopharmaceutical company pioneering Antibody Oligonucleotide Conjugates (AOCs™), announced today the appointment of Carsten Boess to its board of directors.  Mr. Boess, who has nearly thirty years of industry experience as a finance executive and board member, brings a wealth of experience in financing, leading and growing biotechnology companies.

“Carsten’s deep financial expertise and industry experience makes him a great addition to our board,” said Sarah Boyce, President and CEO of Avidity. “His strong strategic and operational insight will be highly valuable as we grow and we’re thrilled to welcome him to Avidity.”

Mr. Boess also serves on the Board of Directors and is Chair of the Audit Committee at Rocket Pharmaceuticals, a public biopharmaceutical company, and Achilles Therapeutics, a private, London-based biopharmaceutical company.  Prior to serving in his board roles, Mr. Boess held executive level positions within industry including Executive Vice President, Corporate Affairs at Kiniksa Pharmaceuticals, Senior Vice President and Chief Financial Officer at Synageva Biopharma Corporation (until its acquisition by Alexion Pharmaceuticals) and Chief Financial Officer at Alexion Pharmaceuticals.  In addition, Mr. Boess served as Chief Financial Officer, and later, as Vice President of International Operations at Insulet Corporation, Executive Vice President of Finance at Serono Inc., and in several financial executive roles at Novozymes of North America and Novo Nordisk in France, Switzerland and China.  During his tenure at Novo Nordisk, he served on Novo Nordisk’s Global Finance Board.

Carsten Boess commented, “Joining the Avidity board is a unique opportunity to contribute to the growth of a high-science biopharmaceutical company with an exciting platform. The AOC approach to drug discovery and development has the potential to be a game-changer and I am excited to help Avidity deliver significant value to patients.”

About Avidity Biosciences

Avidity Biosciences, Inc. is pioneering a new class of oligonucleotide-based therapies called AOCs designed to overcome the current limitations of oligonucleotide therapies in order to treat a wide range of serious diseases. Avidity utilizes its proprietary AOC platform to design, engineer and develop therapeutics that combine the tissue selectivity of monoclonal antibodies (mAbs) and the precision of oligonucleotide therapies in order to access previously undruggable tissue and cell types and more effectively target underlying genetic drivers of diseases.  The company’s lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1 (DM1) and its four other muscle programs are focused on the treatment of muscle atrophy, Duchenne muscular dystrophy, facioscapulohumeral muscular dystrophy and Pompe disease. In addition to its muscle franchise, Avidity has development efforts focused on immune and other cell types. In April 2019, Avidity and Eli Lilly announced a strategic collaboration to utilize Avidity’s AOC technology to pursue mRNA targets initially in immunology and other select indications outside of muscle.

For more information, please visit www.aviditybiosciences.com.

Contacts:

Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media and Investors:
Amy Conrad
Juniper Point
858-366-3243
amy@juniper-point.com

Avidity Biosciences Announces Presentations at Upcoming Investor Conferences

SAN DIEGO, Feb. 24, 2020 /PRNewswire/ — Avidity Biosciences (Avidity), a privately-held biotechnology company pioneering Antibody Oligonucleotide Conjugates (AOCs™), announced today that Sarah Boyce, Avidity’s President and CEO, will present a company overview at two upcoming investor conferences:

  • 9th Annual SVB Leerink Global Healthcare Conference on Tuesday, February 25, 2020 at 1:30 pm ET at the Lotte New York Palace Hotel
  • 40th Annual Cowen Healthcare Conference on Tuesday, March 3, 2020 at 2:30 pm ET at the Boston Marriott Copley Place Hotel

About Avidity Biosciences

Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™) for treatment of rare muscle disorders and other serious diseases. AOCs combine the tissue selectivity of monoclonal antibodies and the specificity of oligonucleotide-based therapeutics to enable more effective targeting of tissues, such as skeletal muscle, immune cells, and heart to create a pipeline of targeted oligonucleotide therapeutics. The company’s lead research program addresses myotonic dystrophy type I, a disease with no approved treatment options. In April 2019, Avidity Biosciences and Eli Lilly announced a strategic partnership to utilize Avidity’s AOC technology to pursue therapeutic targets initially focused on immunology and other indications. For more information, please visit www.aviditybio.com.

Contacts:

Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media and Investors:
Amy Conrad
Juniper Point
858-366-3243
amy@juniper-point.com

Avidity Biosciences Appoints Joseph Baroldi as Chief Operating Officer

SAN DIEGO, Feb. 12, 2020 /PRNewswire/ — Avidity Biosciences, Inc. (Avidity), a privately-held biotechnology company pioneering Antibody Oligonucleotide Conjugates (AOCs™), announced today the appointment of Joseph Baroldi as Chief Operating Officer.

“We are thrilled to welcome Joe to the Avidity team,” said Sarah Boyce, President and CEO of Avidity.  “His industry experience and depth of strategic expertise in RNA therapeutics aligns well with our goals to maximize the value of our AOC platform and advance our pipeline.  Joe will be a tremendous asset to Avidity and is a welcome addition to the executive management team.”

Mr. Baroldi brings over twenty years of experience in the life sciences industry to Avidity.  Most recently, Mr. Baroldi was Vice President, Business Development at Ionis Pharmaceuticals, where he held several roles of increasing responsibility over the last decade.  During this time, Mr. Baroldi led Ionis’ corporate and business development activities, alliance management and competitive intelligence, executing more than twenty transactions that resulted in approximately $2B in upfront cash.  Before that, Mr. Baroldi held several roles in strategic planning and scientific research at Hologic (formerly Gen-Probe, Inc.).  Mr. Baroldi received his B.S. in Biological Sciences from UC Irvine and his M.B.A. from the Rady School of Management at UC San Diego.

“I am excited to join the Avidity team at this important time in the company’s growth,” said Mr. Baroldi.  “Avidity is pioneering a new class of targeted RNA medicines, that if successful, can deliver oligonucleotides to a broad range of cell types. This opportunity is extremely compelling and I look forward to contributing to Avidity’s promising future.”

About Avidity Biosciences

Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™) for treatment of rare muscle disorders and other serious diseases. AOCs combine the tissue selectivity of monoclonal antibodies and the specificity of oligonucleotide-based therapeutics to enable more effective targeting of tissues, such as skeletal muscle, immune cells, and heart to create a pipeline of targeted oligonucleotide therapeutics. The company’s lead research program addresses myotonic dystrophy type I, a disease with no approved treatment options. In April 2019, Avidity Biosciences and Eli Lilly announced a strategic partnership to utilize Avidity’s AOC technology to pursue therapeutic targets initially focused on immunology and other indications. For more information, please visit www.aviditybio.com.

Contacts:

Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media and Investors:
Amy Conrad
Juniper Point
858-366-3243
amy@juniper-point.com

Avidity Biosciences Announces Presentation at the 38th Annual J.P. Morgan Healthcare Conference

SAN DIEGO, Jan. 7, 2020 /PRNewswire/ — Avidity Biosciences (Avidity) announced today that it will present at the 38th Annual J.P. Morgan Healthcare Conference being held January 13-16, 2020 in San Francisco, CA.

Sarah Boyce, President and CEO of Avidity, will present an overview of the company’s novel approach to treating rare muscle disorders and other serious diseases using Avidity’s proprietary Antibody-Oligonucleotide Conjugates (AOCs™).  Avidity’s AOCs combine the tissue selectivity of monoclonal antibodies with the specificity of oligonucleotide-based therapeutics to modulate disease-related RNAs in many cell types and tissues.  This presentation follows the close of a successful $100 million Series C in 2019 that will fund development activities and expansion of the Avidity platform to other tissues and organs.

Presentation details are below:

Date: Wednesday, January 15th, 2020
Time: 10:30 am PT
Location: The Westin St. Francis Hotel, 335 Powell Street, San Francisco, CA

About Avidity Biosciences

Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™) for treatment of rare muscle disorders and other serious diseases. AOCs combine the tissue selectivity of monoclonal antibodies and the specificity of oligonucleotide-based therapeutics to enable more effective targeting of tissues, such as skeletal muscle, immune cells, and heart to create a pipeline of targeted oligonucleotide therapeutics. The company’s lead research program addresses myotonic dystrophy type I, a disease with no approved treatment options. In April 2019, Avidity Biosciences and Eli Lilly announced a strategic partnership to utilize Avidity’s AOC technology to pursue therapeutic targets initially focused on immunology and other indications. For more information, please visit www.aviditybio.com.

Contacts:

Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media and Investors:
Amy Conrad
Juniper Point
858-366-3243
amy@juniper-point.com

Avidity Biosciences Completes $100 Million Series C Financing

La Jolla, Calif., November 13, 2019 (BUSINESS WIRE) – Avidity Biosciences, a biotechnology company pioneering Antibody-Oligonucleotide Conjugates (AOCs™) for the treatment of rare muscle disorders and other serious diseases, announced the completion of a $100 million Series C financing.

The financing was led by RTW Investments and included new investors Cormorant Asset Management, LP, CureDuchenne, Logos Capital, Perceptive Advisors LLC and ST Pharm. Existing investors also participated and include Alethea Capital, Alexandria Venture Investments, Boxer Capital of Tavistock Group, Brace Pharma Capital, EcoR1 Capital, Partner Fund Management and Takeda Ventures. Eli Lilly and Company contributed $15 million to the financing in connection with the research collaboration between Lilly and Avidity initiated in April 2019. Roderick T. Wong, M.D., managing partner of RTW Investments, will join Avidity Biosciences’ board of directors.

“Avidity pioneered AOC technology that combines two powerful technologies: monoclonal antibodies for effective delivery and oligonucleotide therapeutic for potent and selective activity,” said Sarah Boyce, president and CEO of Avidity Biosciences. “Using our AOC platform, we can unlock new potential for RNA therapeutics by efficiently targeting muscle and immune cells. These funds will enable Avidity to advance our growing proprietary portfolio of multiple programs, including our AOC treatment of myotonic dystrophy type I, to treat serious muscle disorders.”

“Our investment team is excited about Avidity’s first-in-class therapy for myotonic dystrophy, and the potential of its AOC platform to deliver RNA-based therapeutics to muscle and create transformative treatments for diseases with high unmet need,” said Dr. Wong. “As a member of the board, I look forward to supporting the advancement of their pipeline into the clinic.”

Dr. Wong is the founder of RTW Investments and is responsible for managing the firm’s investments focused on innovative drug development. Prior to forming RTW, he was a managing director and sole portfolio manager for the Davidson Kempner Healthcare Funds. Before this, he held various healthcare investment and research roles at Sigma Capital and Cowen & Company. Dr. Wong received his medical doctorate from the University of Pennsylvania Medical School and an MBA from Harvard Business School, as well as a bachelor’s degree in economics from Duke University.

SVB Leerink acted as lead financial advisor for Avidity Biosciences’ Series C financing.

About Avidity Biosciences
Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™) for treatment of rare muscle disorders and other serious diseases. AOCs combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide-based therapeutics to enable more effective targeting of tissues, such as skeletal muscle, immune cells, and heart to create a pipeline of targeted oligonucleotide therapeutics. The company’s lead research program addresses myotonic dystrophy type I, a disease with no approved treatment options. In April 2019, Avidity Biosciences and Eli Lilly announced a strategic partnership to utilize Avidity’s AOC technology to pursue therapeutic targets initially focused on immunology and other indications. For more information, please visit www.aviditybio.com.

Contacts:

Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media:
Ian Stone
Senior Vice President
Canale Communications
(619) 849-5388
ian@canalecomm.com

Avidity Biosciences Appoints Sarah Boyce as Chief Executive Officer

La Jolla, California, October 1, 2019 (PRNewswire) — Avidity Biosciences, a privately-held biotechnology company pioneering Antibody Oligonucleotide Conjugates (AOCs™), announced today the appointment of global business leader Sarah Boyce as President and Chief Executive Officer and a member of the Avidity Board of Directors.

“We are delighted to welcome Sarah as the new CEO of Avidity Biosciences,” said Troy Wilson, Ph.D., J.D., Executive Chairman of the Board of Directors, co-founder and founding CEO of Avidity. “Sarah’s broad experience in the healthcare industry, combined with her strategic expertise and track record of leading high-performance teams, position her to be a great partner to both the board and management as we continue to advance our pipeline, optimize our AOC™ platform and prepare to initiate our first clinical study.”

Ms. Boyce brings to Avidity extensive experience in the life sciences industry, where she has built global organizations and brought to patients a number of innovative therapies, including Tegsedi®, Waylivra®, Soliris®, Gleevec® and Tasigna®. She most recently served as President and a member of the board of directors of Akcea Therapeutics, where she led commercialization of the company’s rare disease products. Prior to joining Akcea in April 2018, Ms. Boyce held multiple executive-level roles at leading pharma and biotech companies including Ionis Pharmaceuticals, Forest Laboratories, Alexion Pharmaceuticals, Novartis Oncology and Roche.

“I am honored by the opportunity the board has extended and am excited to lead Avidity through its next phase of growth,” said Sarah Boyce, President and CEO of Avidity Biosciences. “I look forward to working with the leadership team and the board to continue to expand the  proprietary AOC™ technology which combines the benefits of two innovative therapeutic approaches into a pioneering platform and to usher the first wave of potential therapeutics into the clinic.”

About Avidity Biosciences, Inc.

Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™). AOCs uniquely combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide-based therapeutics to overcome barriers to the delivery of oligonucleotides and target genetic drivers of disease. Using its AOC™ technology, Avidity has demonstrated significant and sustained reductions of disease-related mRNAs expression in murine and primate models with ED50 of < 1mg/kg siRNA and and EC50 in the nanomolar range.  The company is focused on advancing an internal pipeline of therapeutic candidates to treat diseases including myotonic dystrophy, Duchenne muscular dystrophy, Facioscapulohumeral muscular dystrophy (FSHD) and other disorders. In addition, Avidity and Eli Lilly announced a strategic partnership in April 2019 to utilize Avidity’s AOC™ technology to pursue therapeutic targets initially focused on immunology and other indications. Avidity has raised $30 million in venture financing from a top-tier group of investors, including Takeda Ventures, Alethea Capital, Alexandria Venture Investments, Brace Pharma, EcoR1 Capital, F-Prime Capital, Moore Venture Partners, and Boxer Capital of Tavistock Group. For more information, please visit www.aviditybiosciences.com.

Contacts:
Company and Media:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Avidity Biosciences to Present at the 2019 Myotonic Annual Conference

La Jolla, California, September 12, 2019 (PRNEWSWIRE) – Avidity Biosciences, a privately-held biotechnology company pioneering Antibody Oligonucleotide Conjugates (AOCs™), today announced that Arthur A. Levin, Ph.D., Chief Scientific Officer, is scheduled to present at the 2019 Myotonic Annual Conference on Saturday, September 14 at 4:00 p.m. ET. The conference will be held September 13-14, 2019 in Philadelphia.

“Although oligonucleotides have shown promise for the treatment of muscle diseases, delivery has proven to be a challenge to the development of effective therapeutics,” said Dr. Levin. “Avidity has developed a powerful approach to overcome the oligonucleotide delivery challenge, and our AOCs are uniquely suited to treat myotonic dystrophy. We welcome the chance to share an update on our progress and our plans with the the myotonic dystrophy community at this year’s conference.”

About Avidity Biosciences, Inc.

Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™). AOCs combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide-based therapeutics to overcome barriers to the delivery of oligonucleotides and target genetic drivers of disease. Using its AOC™ technology, Avidity has demonstrated significant and sustained reductions of  disease-related mRNAs expression in murine and primate models with ED50 of < 1mg/kg siRNA and and EC50 in the nanomolar range.  The company is focused on advancing an internal pipeline of therapeutic candidates to treat diseases including myotonic dystrophy, Duchenne muscular dystrophy, Facioscapulohumeral muscular dystrophy (FSHD) and other disorders. In addition, Avidity and Eli Lilly announced a strategic partnership in April 2019 to utilize Avidity’s AOC™ technology to pursue therapeutic targets initially focused on immunology and other indications. Avidity has raised $30 million in venture financing from a top-tier group of investors, including Takeda Ventures, Alethea Capital, Alexandria Real Estate Equities, Brace Pharma, EcoR1 Capital, F-Prime Capital, Moore Venture Partners, and Boxer Capital of Tavistock Group. For more information, please visit www.aviditybio.com.

Contacts:
Company and Media:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Avidity Biosciences Adds Drug Development Veterans Edward Kaye and Noreen Henig to Board of Directors

La Jolla, California, August 22, 2019 (PR NEWSWIRE) – Avidity Biosciences, a biotechnology company pioneering Antibody-Oligonucleotide Conjugates (AOCs™) focused in rare muscle disorders and other serious diseases, today announced the appointment of Noreen Henig, M.D. and Edward Kaye, M.D., to the company’s board of directors.

“I am delighted to welcome Noreen and Ed to the Avidity board,” said Troy Wilson, Ph.D., Executive Chairman of the Board of Directors. “They bring deep experience in the development of oligonucleotide-based drug candidates and have held leadership roles in leading private and public companies. Their insight and perspective will be invaluable as we continue to advance our pipeline of therapeutic programs, optimize our AOC platform and prepare to initiate our first clinical study.”

Noreen Henig, M.D. brings over 20 years of clinical and development leadership experience at biopharmaceutical companies, in addition to an extensive background in academic research and medicine. Dr. Henig has served as Chief Medical Officer of Breath Therapeutics since July 2018. Breath Therapeutics was acquired by Zambon SpA in July 2019 for up to 500 Million Euros and is now a Zambon Group Company.  Previously, she served as Chief Development Officer of ProQR Therapeutics from 2013-2017, where she led preclinical and clinical development. ProQR had a successful cross-over round and NASDAQ IPO as a preclinical company in 2014.  Earlier in her drug development career, she spent six years at Gilead Sciences, most recently as the  Senior Director, Medical Affairs for Respiratory and PAH. Throughout her career, Dr. Henig held several senior academic positions at California Pacific Medical Center and Stanford University School of Medicine. She earned her M.D. with Distinction in Immunology from Albert Einstein College of Medicine, completed training in Internal Medicine at the University of California San Francisco and Pulmonary and Critical Care Medicine at the University of Washington.

“Avidity’s platform and assets have almost limitless therapeutic potential,” said Dr. Henig. “I am impressed with the Avidity team and technology, and I look forward to guiding their strategic plan to quickly bring their molecules to clinical development. Avidity’s therapeutic programs in rare genetic diseases and immunology are important advancements for patients in need.”

Edward Kaye, M.D., has served as CEO and a director of Stoke Therapeutics since October 2017. Dr. Kaye previously served as CEO and a director of Sarepta Therapeutics, where he led the successful push to win FDA approval of Exondys 51, a pioneering drug for Duchenne muscular dystrophy. Before taking on the CEO role at Sarepta, he served as the company’s Chief Medical Officer for six years, leading the development of Exondys 51. Earlier in his career, Dr. Kaye spent 10 years at Genzyme Corporation, most recently as Group Vice President of Clinical Development, where he supervised clinical research in programs focused on lysosomal storage disease and genetic neurological disorders. Dr. Kaye currently serves as a member of the boards of directors at Cytokinetics, Inc. and the Massachusetts Biotechnology Council. Prior to entering the biotech industry, Dr. Kaye trained in pediatrics, pediatric neurology and biochemical genetics. He was on the research staff at Massachusetts General Hospital and Tufts University Medical Center and was the chief of biochemical genetics at the Children’s Hospital of Philadelphia. He remains on the pediatric neurology staff at Boston Children’s Hospital. Dr. Kaye earned his B.S. in biology from Loyola University and earned his M.D. at the Loyola University Stritch School of Medicine.

“Avidity has developed a powerful approach to overcome a central challenge with oligonucleotide therapeutics – namely, delivery,” added Dr. Kaye. “AOCs have the potential to transform the field of oligo-based therapeutics, and I look forward to working with the leadership team and the board to continue to build the company.”

About Avidity Biosciences, Inc.
Avidity Biosciences, Inc. is a privately-held biotech company pioneering Antibody-Oligonucleotide Conjugates (AOC™). AOCs combine the tissue selectivity of monoclonal antibodies and the precision of oligonucleotide-based therapeutics to overcome barriers to the delivery of oligonucleotides and target genetic drivers of disease. Avidity has raised $30 million in venture financing from a top-tier group of investors, including Takeda Ventures, Alethea Capital, Alexandria Real Estate Equities, Brace Pharma, EcoR1 Capital, F-Prime Capital, Moore Venture Partners, and Boxer Capital of Tavistock Group. In April 2019, Avidity and Eli Lilly announced a strategic partnership to utilize Avidity’s AOC™ technology to pursue therapeutic targets initially focused on immunology and other indications. For more information, please visit www.aviditybio.com.

Contacts:
Company:
Leslie Ann Kerins
(858) 401-7900
leslie@aviditybio.com

Media:
Ian Stone
Senior Vice President
Canale Communications
(619) 849-5388
ian@canalecomm.com