Exhibit 99.1
AVROBIO Announces Proposed Public Offering of Common Stock
CAMBRIDGE, Mass.– July 16, 2019 – AVROBIO, Inc. (NASDAQ: AVRO) (the “Company”), a Phase 2 clinical-stage gene therapy company, today announced that it intends to offer and sell, subject to market and other conditions, $100.0 million of its common stock in an underwritten public offering. The Company expects to grant the underwriters a30-day option to purchase up to $15.0 million of additional shares of its common stock (15%) offered in the public offering. All of the shares in the proposed offering are to be sold by the Company. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Morgan Stanley and Cowen are acting as joint book-running managers for the offering.
The Company intends to use the net proceeds from the offering, in addition to its existing cash resources, to fund the support of the Company’s current programs in Fabry disease, Gaucher disease, cystinosis and Pompe disease, fund external and internal manufacturing and process development activities related to the Company’s programs and to fund research and development activities that relate to all of the Company’s clinical and preclinical activities, including the cost of research and development personnel, and the remainder for planned general and administrative expenses, working capital and other general corporate purposes.
The securities described may be offered pursuant to a shelf registration statement onForm S-3 (FileNo. 333-232489), including a base prospectus. The securities may be offered only by means of a prospectus. A preliminary prospectus supplement related to the offering and a final prospectus supplement related to the offering will be filed with the U.S. Securities and Exchange Commission (SEC) and will be available on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the securities being offered may also be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or Cowen and Company, LLC, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (631)274-2806.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About AVROBIO, Inc.
AVROBIO, Inc., is a Phase 2 clinical-stage gene therapy company. AVROBIO is focused on the development of its investigational gene therapy,AVR-RD-01, in Fabry disease, as well as additional gene therapy programs in other lysosomal storage disorders including Gaucher disease, cystinosis and Pompe disease.
