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AVROBIO Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

January 9, 2020 GMT

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan 9, 2020--

AVROBIO (NASDAQ: AVRO) (the “Company”), a leading clinical-stage gene therapy company with a mission to free people from a lifetime of genetic disease, today announced that the Company has granted a non-statutory stock option to a new employee as an inducement award under the Company’s 2019 Inducement Plan, in accordance with NASDAQ Listing Rule 5635(c)(4).

The stock option, for the purchase of up to 90,000 shares of the Company’s common stock, was granted as an inducement material to the new employee’s acceptance of employment with the Company and was approved by the Compensation Committee of the Company’s Board of Directors. The stock option was granted on January 7, 2020 with an exercise price of $20.14 per share, representing the closing price of AVROBIO’s common stock as reported by NASDAQ on the grant date. The option award has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the employee’s new hire date and the remainder vesting in equal monthly installments over the following three years. Vesting of the option award is subject to continued service with AVROBIO by the employee through the applicable vesting dates.

About AVROBIO

AVROBIO’s mission is to free people from a lifetime of genetic disease with a single dose of gene therapy. We aim to halt or reverse disease throughout the body by driving durable expression of functional protein, even in hard-to-reach tissues and organs including the brain, muscle and bone. Our clinical-stage programs include Fabry disease, Gaucher disease and cystinosis and we are also advancing a program in Pompe disease. AVROBIO is powered by plato™, our streamlined platform for worldwide gene therapy commercialization. We are headquartered in Cambridge, Mass. with an office in Toronto, Ontario. For additional information, visit avrobio.com, and follow us on Twitter and LinkedIn.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200109005805/en/

CONTACT: Investor Contact:

Christopher F. Brinzey

Westwicke, an ICR Company

339-970-2843

chris.brinzey@westwicke.com Media Contact:

Tom Donovan

Ten Bridge Communications

857-559-3397

tom@tenbridgecommunications.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: FDA HEALTH GENETICS CLINICAL TRIALS PHARMACEUTICAL BIOTECHNOLOGY

SOURCE: AVROBIO

Copyright Business Wire 2020.

PUB: 01/09/2020 04:00 PM/DISC: 01/09/2020 04:01 PM

http://www.businesswire.com/news/home/20200109005805/en