Adverum Makes Job Cuts To Advance Wet AMD Gene Therapy
Moving On After Last Year's Safety Issues
The California-based biotech is reducing its workforce to help finance a Phase II study of Ixo-vec, its eye gene therapy which has been blighted by safety concerns.
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The Phase II LUNA study of ixo-vec showed a reduction in anti-VEGF use and stabilization of visual acuity and anatomic parameters that Adverum – and some analysts – called best in class.
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The company presented promising Phase II data, but it didn’t reveal its plans for a pivotal trial of ABBV-RGX-314, which would compete in a growing – but increasingly crowded – market.