 REDWOOD CITY, Calif., Aug. 18, 2020 GLOBE NEWSWIRE -- Adverum Biotechnologies, Inc. Nasdaq: ADVM, a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the closing of its previously announced underwritten public offering of 16,675,000 shares of its common stock at a public offering price of 13.00 per share, which included the full exercise of the underwriters option to purchase up to an additional 2,175,000 shares of common stock. The gross proceeds to Adverum before deducting underwriting discounts and commissions and offering expenses payable by Adverum were approximately 216.8 million. Goldman Sachs Co. LLC, Cowen and Company, LLC, SVB Leerink LLC and Piper Sandler Co. acted as joint book-running managers for the offering.The shares described above were offered by Adverum Biotechnologies pursuant to a shelf registration statement on Form S-3 that was previously filed by Adverum Biotechnologies with the Securities and Exchange Commission the SEC on August 8, 2019, and became automatically effective on that date. The final prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC on August 13, 2020, and is available on the SECs website located at Copies of the final prospectus supplement and the accompanying prospectus related to this offering may be obtained from: Goldman Sachs Co. LLC by mail at 200 West Street, New York, NY 10282, Attention: Prospectus Department, by telephone at 866 471-2526, or by email at Cowen and Company, LLC co Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at or by telephone at 833 297-2926; SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA, 02110, by telephone at 1-800-808-7525, ext. 6218, or by email at or Piper Sandler Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at 800 747-3924 or by email at press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.About Adverum Biotechnologies, Inc.Adverum Biotechnologies is a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases. INVESTOR MEDIA CONTACT:Investors: Myesha Lacy Adverum Biotechnologies, Inc. 1-650-304-3892Media: Cherilyn Cecchini, M.D. LifeSci Communications 1-646-876-5196 