SAN
DIEGO, Aug. 5, 2024 /PRNewswire/ -- Avidity
Biosciences, Inc. (Nasdaq: RNA), a biopharmaceutical company
committed to delivering a new class of RNA therapeutics called
Antibody Oligonucleotide Conjugates (AOCs™), today announced the
appointment of John B. Moriarty,
Jr., J.D., as Chief Legal Officer and Corporate Secretary,
effective immediately. With almost 30 years of industry experience,
Mr. Moriarty brings extensive legal expertise and a proven track
record of successfully guiding leading global biotech companies
through transformational growth.
Mr. Moriarty succeeds John W. Wallen III, Ph.D., J.D., who
served as General Counsel since 2019 and has been head of
intellectual property since Avidity's inception in 2014. Dr. Wallen
will remain with the company through year-end and will transition
as a consultant.
"We are pleased to have John join our leadership team. His
extensive legal expertise and experience in leading
biopharmaceutical companies through transformational growth will be
instrumental as we continue to advance our three clinical
development programs for the treatment of three distinct rare
muscle diseases, expand our pipeline utilizing our broad AOC
platform and build an integrated global organization," said
Sarah Boyce, president and chief
executive officer. "On behalf of our Avidity team, we extend our
deepest gratitude to Dr. Wallen for his exceptional leadership and
substantial contributions since our inception, including
establishing a solid legal framework and securing our intellectual
property for our AOC platform."
Mr. Moriarty was most recently the Executive Vice President,
Chief Legal Officer and Corporate Secretary at Mirati Therapeutics
where he led the global legal team, executed business transactions
and enhanced corporate governance, which was acquired by Bristol
Myers Squibb. Previously, he was the Chief Legal Officer at Olema
Oncology, leading all legal, compliance, and governance functions
during its evolution from a private startup to a public
development-stage company. Prior to that, he was the Executive
Vice President and General Counsel for Portola Pharmaceuticals,
Inc., which was acquired by Alexion Pharmaceuticals, Inc. Prior
to Portola, Mr. Moriarty was General Counsel of Alexion and
was General Counsel and Chief Legal Officer at Elan Corporation
plc. Mr. Moriarty earned a B.A. from the University of
Virginia and a J.D. from the University of
Georgia School of Law cum laude.
"I am excited to join Avidity at such a pivotal time in the
company's transformation as it advances potential first-in-class
and best-in-class therapies in development and prepares for global
commercial execution," said Mr. Moriarty. "I look forward to
collaborating with the executive leadership team as we realize our
vision to profoundly improve people's lives by revolutionizing the
delivery of RNA therapeutics."
About Avidity
Avidity Biosciences, Inc.'s
mission is to profoundly improve people's lives by delivering a new
class of RNA therapeutics - Antibody Oligonucleotide Conjugates
(AOCs™). Avidity is revolutionizing the field of RNA with its
proprietary AOCs, which are designed to combine the specificity of
monoclonal antibodies with the precision of oligonucleotide
therapies to address targets and diseases previously unreachable
with existing RNA therapies. Utilizing its proprietary AOC
platform, Avidity demonstrated the first-ever successful targeted
delivery of RNA into muscle and is leading the field with clinical
development programs for three rare muscle diseases: myotonic
dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and
facioscapulohumeral muscular dystrophy (FSHD). Avidity is
broadening the reach of AOCs with its advancing and expanding
pipeline including programs in cardiology and immunology through
internal discovery efforts and key partnerships. Avidity is
headquartered in San Diego, CA. For more information
about our AOC platform, clinical development pipeline and people,
please visit www.aviditybiosciences.com and engage with
us on LinkedIn and X.
Forward-Looking Statements
Avidity cautions readers that statements contained in this press
release regarding matters that are not historical facts are
forward-looking statements. These statements are based on the
company's current beliefs and expectations. Such forward-looking
statements include, but are not limited to, statements regarding:
the advancement of Avidity's clinical development programs; the
expansion of Avidity's pipeline using its AOC platform; building an
integrated global organization; the advancement of multiple
first-in-class and best-in-class therapies by Avidity; and
Avidity's preparation for global commercial execution.
The inclusion of forward-looking statements should not be
regarded as a representation by Avidity that any of these plans
will be achieved. Actual results may differ from those set forth in
this press release due to the risks and uncertainties inherent in
Avidity's business, including, without limitation: Avidity may not
be able to resolve the partial clinical hold related to the serious
adverse event which occurred in the Phase 1/2 MARINA®
trial; additional data related to Avidity's current clinical
programs that continues to become available may be inconsistent
with the data produced as of the respective data cutoff dates;
unexpected adverse side effects to, or inadequate efficacy of,
Avidity's product candidates that may delay or limit their
development, regulatory approval and/or commercialization;
Avidity's approach to the discovery and development of product
candidates based on its AOC platform is unproven; potential delays
in the commencement, enrollment, data readouts and completion of
preclinical studies or clinical trials; Avidity's dependence on
third parties in connection with preclinical and clinical testing
and product manufacturing; regulatory developments in the
United States and foreign countries; and other risks described
in Avidity's Annual Report on Form 10-K for the fiscal year
ended December 31, 2023, and subsequent filings with the SEC.
Avidity cautions readers not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and the company undertakes no obligation to update such statements
to reflect events that occur or circumstances that arise after the
date hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, which is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
Investor Contact:
Michael
MacLean
(619) 837-5014
investors@aviditybio.com
Media Contact:
Navjot Rai
(619) 837-5016
media@aviditybio.com
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SOURCE Avidity Biosciences, Inc.