ADVERUM BIOTECHNOLOGIES, INC. (NASDAQ:ADVM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

(d)

On March8, 2016, the Board of Directors (the Board) of
Adverum Biotechnologies, Inc. (the Company) appointed
Patrick Machado to the Board, effective March14, 2017 (the
Effective Date). Mr.Machado will serve as a ClassII
director of the Company, to hold office until the Companys 2019
annual meeting of stockholders and until his successor is elected
and qualified, or until his earlier death, resignation or
removal. The Board has determined that Mr.Machado satisfies the
applicable independence requirements of the NASDAQ Listing Rules.

Mr.Machado, age 53, was a co-founder of Medivation, Inc., a
biopharmaceutical company, and served as its chief business
officer from 2009 to 2014, as its chief financial officer from
2004 until his retirement in 2014 and as a member of its board of
directors from April 2014 until its acquisition by Pfizer in
September 2016. From 1998 to 2001, Mr.Machado worked with ProDuct
Health, Inc., a medical device company, as senior vice president,
chief financial officer and earlier as general counsel. Upon
ProDuct Healths acquisition by Cytyc Corporation, a diagnostic
and medical device company, he served as a consultant to Cytyc to
assist with transitional matters from 2001 to 2002. Earlier in
his career, Mr.Machado worked for Morrison Foerster LLP, an
international law firm, and for the Massachusetts Supreme
Judicial Court. Mr.Machado also serves as a member of the board
of directors of Chimerix, Inc., a publicly traded
biopharmaceutical company, Inotek Pharmaceuticals Corporation, a
publicly traded biopharmaceutical company, and SCYNEXIS, Inc., a
publicly traded drug development company. In addition, Mr.Machado
serves on the board of two privately-held biotechnology
companies, Armaron Bio and Roviant Sciences. Mr.Machado received
a J.D. from Harvard Law School and a B.A. and B.S. in German and
Economics, respectively, from Santa Clara University.

On the Effective Date, in connection with his appointment to the
Board, Mr.Machado was granted an initial equity award valued at
$250,000, split equally in value between options and restricted
stock units. The number of options and restricted stock units
awarded to Mr.Machado were determined based on the closing price
of the Companys common stock on NASDAQ on the Effective Date.
One-third of the shares subject to the options and restricted
stock units vest and become exercisable on each anniversary of
the Effective Date, subject to Mr.Machados continued service to
the Company on each such vesting date.

As a non-employee director, Mr.Machado will receive compensation
in the same manner as the Companys other non-employee directors,
including an annual equity award. Additionally, the Company and
Mr.Machado will enter into an indemnification agreement in
substantially the same form that the Company has entered into
with each of the Companys existing directors. The form of such
indemnification agreement was previously filed by the Company as
an exhibit to its Registration Statement on Form S-1 (File
No.333-197133) filed with the Securities and Exchange Commission.

Mr.Machado was also appointed the chairman of the audit committee
of the Board. The Board has determined that Mr.Machado satisfies
all applicable requirements to serve on such committee.

There are no arrangements or understandings between Mr.Machado
and any other persons to which he was appointed as a member of
the Board. There are no family relationships between Mr.Machado
and any director, executive officer or any other person nominated
or chosen by the Company to become a director or executive
officer. There are no related person transactions (within the
meaning of Item404(a) of Regulation S-K promulgated by the
Securities and Exchange Commission) between Mr.Machado and the
Company.

Item7.01 Regulation FD Disclosure.

On March14, 2017, the Company issued a press release (the
Appointment Press Release) announcing the Boards
appointment of Mr.Machado to the Board and as chairman of the
audit committee of the Board. A copy of the Appointment Press
Release is furnished as Exhibit 99.1 to this Current Report on
Form 8-K and incorporated by reference in this Item 7.01.

The information set forth in this Item 7.01 and Exhibit 99.1
attached hereto is intended to be furnished and shall not be
deemed filed for purposes of Section18 of the Securities Exchange
Act of 1934, as amended (the Exchange Act), or otherwise
subject to the liabilities of that section, nor shall it be
deemed incorporated by reference into any other filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as expressly set forth by specific reference in such a filing.

Item9.01 Financial Statements and Exhibits

(d)Exhibits

About ADVERUM BIOTECHNOLOGIES, INC. (NASDAQ:ADVM)

Adverum Biotechnologies, Inc., formerly Avalanche Biotechnologies, Inc., is a gene therapy company. The Company is engaged in discovering and developing medicines to patients suffering from chronic or debilitating disease. The Company operates and manages its business in the segment of developing and commercializing gene therapeutics. It focuses on diseases with unmet medical need, including ophthalmic diseases, such as wet age-related macular degeneration (AMD), as well as rare genetic diseases. The Company’s product candidates include AVA-101 and AVA-201 for treatment of Wet AMD; AVA-322 and AVA-323 for the treatment of Color Vision Deficiency, and AVA-311 for the treatment of Juvenile X-linked Retinoschisis. It has generated human proof-of-concept data for AVA-101 in a Phase I trial with over eight wet AMD subjects conducted at Lions Eye Institute (LEI) in Australia. It is developing AVA-322 and AVA-323 for the treatment of color vision deficiency (CVD).

ADVERUM BIOTECHNOLOGIES, INC. (NASDAQ:ADVM) Recent Trading Information

ADVERUM BIOTECHNOLOGIES, INC. (NASDAQ:ADVM) closed its last trading session down -0.05 at 2.75 with 71,308 shares trading hands.