Avidity Biosciences Announces Changes to its Board of Directors

LA JOLLA, Calif., Aug. 25, 2021 /PRNewswire/ -- Avidity Biosciences, Inc. (Nasdaq: RNA) a biopharmaceutical company committed to delivering a new class of RNA therapeutics called Antibody Oligonucleotide Conjugates (AOCs™), today announced the appointment of experienced global commercial and operations executive, Eric Mosbrooker to its board of directors. Mr. Mosbrooker is an industry leader with expertise in building global commercial organizations, as well as marketing, market access, distribution, and compliance.

The company also announced the departure of Roderick Wong, M.D. from the board. Dr. Wong, managing partner and chief investment officer at RTW Investments, LP, joined Avidity's board in November 2019 in conjunction with the company's series C financing.

"We are very pleased to have Eric join our Board further enhancing a commercial perspective that will become increasingly important as our pipeline continues to mature. His experience in rare and genetic diseases is complementary to our existing board members and makes him a welcome addition to the Avidity team," said Sarah Boyce, president and CEO of Avidity. "We are so grateful to Rod for his service over the past year and a half. His expertise was invaluable as we completed our IPO and first follow-on financing."

Mr. Mosbrooker has expertise in gene therapy, rare metabolic diseases, additional orphan conditions and oncology. Mr. Mosbrooker currently serves as the chief operations officer for Cognoa, leading the commercial, program management, product, and business operations functions. Prior to joining Cognoa, he was the chief commercial officer at Audentes Therapeutics overseeing the gene therapy business unit. Mr. Mosbrooker also served as the senior vice president of the Global Orphan Business Unit at Horizon Pharmaceuticals. He holds a B.S. in Industrial Engineering from the University of Wisconsin – Madison.

"I am pleased to join the board of directors at Avidity, especially at such an exciting time for the company," said Mr. Mosbrooker. "Avidity's innovative science, clear strategy and strong AOC platform are a winning combination to improve the lives of people affected by serious diseases. I look forward to working with other board members and the management team to serve patients and their families as Avidity emerges as a leader in the RNA space."

About Avidity Biosciences

Avidity Biosciences, Inc.'s mission is to profoundly improve people's lives by delivering a new class of RNA therapeutics - Antibody Oligonucleotide Conjugates (AOCs^TM). Avidity's proprietary AOCs are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to target the root cause of diseases previously untreatable with RNA therapeutics. Avidity's lead product candidate, AOC 1001, is designed to treat myotonic dystrophy type 1 (DM1). The FDA has cleared Avidity to proceed with the Phase 1/2 MARINA^TM trial of AOC 1001 in adults with DM1. Its advancing and expanding pipeline also includes programs in facioscapulohumeral muscular dystrophy (FSHD), Duchenne Muscular Dystrophy (DMD), muscle atrophy and Pompe disease. The company is planning for AOC 1044, the lead of three programs for the treatment of DMD, and its AOC FSHD program to enter the clinic in 2022.  Avidity is also broadening the reach of AOCs beyond muscle tissues through both internal discovery efforts and key partnerships as the company continues to deliver on the RNA revolution. Avidity is headquartered in La Jolla, CA. For more information about our science, pipeline and people, please visit www.aviditybiosciences.com and engage with us on LinkedIn and Twitter.

Forward-Looking Statements

Avidity cautions readers that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: the potential of the AOCs platform and the progression and maturation of the Company's pipeline of AOCs, the advancement of AOCs into clinical development; the potential for Avidity's AOCs to be commercialized; the potential of AOCs to have a transformative impact on patients with a wide range of serious diseases; and Avidity's strategy to deliver long-term growth. The inclusion of forward-looking statements should not be regarded as a representation by Avidity that any of these plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the business, including, without limitation: Avidity is early in its development efforts and all of its development programs are in the preclinical or discovery stage; Avidity's approach to the discovery and development of product candidates based on its AOC platform is unproven, and the company does not know whether it will be able to develop any products of commercial value; potential delays in the commencement, enrollment and completion of clinical trials;  disruption to its operations from the COVID-19 pandemic; Avidity's dependence on third parties in connection with preclinical testing and product manufacturing; unexpected adverse side effects or inadequate efficacy of its product candidates that may limit their development, regulatory approval and/or commercialization, or may result in recalls or product liability claims; regulatory developments in the United States and foreign countries, including acceptance of INDs and similar foreign regulatory filings and the proposed design of future clinical trials; risks related to integration of new management personnel; and other risks described in prior press releases and in filings with the Securities and Exchange Commission (SEC). Avidity cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Company & Investors Contact:
Kath Gallagher
kath.gallagher@aviditybio.com 
(858) 401-7900

Media Contact:
Cherise Adkins
cadkins@spectrumscience.com 
(301) 267-4161

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SOURCE Avidity Biosciences, Inc.