Avalanche Biotechnologies Reports Fourth Quarter and Fiscal 2015 Financial Results

Avalanche Biotechnologies, Inc., a gene therapy company committed to discovering and developing novel medicines for patients suffering from chronic or debilitating disease, has reported financial results for the fourth quarter and year ended December 31, 2015.

“We were looking for opportunities to leverage our expertise and resources by identifying additional assets to bring into the company,” said Paul B. Cleveland, president and CEO. “On February 1 we announced a proposed combination with Annapurna Therapeutics, a gene therapy company with four product candidates in development, including a candidate for the potential treatment of HAE which is expected to be in the clinic in 2017.  We believe that this transaction will transform Avalanche into a leading gene therapy company with an extensive pipeline.”

(Source: Avalanche)