VC-backed Avrobio rolls out IPO

Cambridge, Massachusetts-based Avrobio, a developer of gene therapies for rare diseases, has raised $99.7 million for its IPO after pricing its over 5.2 million shares at $19 per share. The stock began trading June 21, 2018 on the NASDAQ under the ticker symbol “AVRO.” Morgan Stanley, Cowen and Wells Fargo Securities are the lead underwriters. Avrobio’s pre-IPO backers include Cormorant Asset Management, Surveyor Capital, Aisling, Brace Pharma Capital, Eventide Asset Management, Morningside, Atlas Venture, SV Health Investors and Clarus Ventures.

PRESS RELEASE

CAMBRIDGE, Mass., June 20, 2018 (GLOBE NEWSWIRE) — AVROBIO, Inc. (the “Company”), a Phase 2 clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose, today announced the pricing of its initial public offering of 5,247,958 shares of common stock at a public offering price of $19.00 per share, before underwriting discounts and commissions, for gross proceeds of $99.7 million. In addition, the Company has granted the underwriters a 30-day option to purchase up to 787,193 additional shares of common stock at the initial public offering price, less underwriting discounts and commissions. The Company’s common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol “AVRO” on June 21, 2018. The offering is expected to close on June 25, 2018, subject to customary closing conditions.

Morgan Stanley, Cowen and Wells Fargo Securities are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on June 20, 2018. The offering will be made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained, when available by visiting EDGAR on the SEC website at www.sec.gov or from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; 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, or Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, or by phone at (800) 326-5897, or by e-mail at cmclientsupport@wellsfargo.com.

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
AVROBIO, Inc. is a Phase 2 clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose. AVROBIO is initially targeting Fabry disease, Gaucher disease, Pompe disease and cystinosis with its ex vivo gene therapy approach. AVROBIO is headquartered in Cambridge, MA and has offices in Toronto, ON.