AVROBIO Appoints Holly May as Chief Commercial Officer
Company developing commercial strategies and operational capabilities to support future product launches as investigation gene therapies advance through clinic. Announces Grant of Inducement Award Under Nasdaq Listing Rule 5635(c)(4)
AVROBIO, Inc., a Phase 2 clinical-stage gene therapy company, today announced the appointment of Holly May, MBA, a rare diseases leader with deep experience in commercial strategy and operations, as Chief Commercial Officer. Ms. May will lead the Company’s expanding commercial team including launch readiness initiatives and play a key role developing and executing corporate growth strategy as AVROBIO advances its pipeline of gene therapies for lysosomal storage disorders.
“To enable our therapies to reach patients in need, we are developing tailored approaches to engage with regulators, payers, physicians and patients. Holly and her team will focus on those important priorities. We are delighted to welcome her to our leadership team.”
Ms. May joins AVROBIO from SOBI, Inc. As SOBI’s Vice President and Head of Commercial, Ms. May led all aspects of commercial strategy, operations and performance, working in therapeutic areas including immunology, hematology, inflammatory disease and inborn errors of metabolism. Prior to her time at SOBI, Ms. May held leadership roles of increasing strategic importance across marketing, operations, sales, and strategic planning at Sanofi Genzyme. As a Vice President in the Genzyme rare disease unit, Ms. May led the team responsible for brand, disease and digital marketing for Fabry and other lysosomal storage diseases. Previous to Genzyme she worked for Sanofi’s Global Oncology business where she collaborated with the R&D team to design a cross-functional commercialization process for products in Phase 1 through launch. Ms. May earned her bachelor’s degree in zoology from Miami University of Ohio and her MBA, with a concentration in marketing, from the University of Akron.
“With a wealth of experience in lysosomal storage disorders and commercial strategy, Holly is perfectly suited to spearhead the development of AVROBIO’s commercial capabilities,” said Geoff MacKay, AVROBIO’s President and CEO. “To enable our therapies to reach patients in need, we are developing tailored approaches to engage with regulators, payers, physicians and patients. Holly and her team will focus on those important priorities. We are delighted to welcome her to our leadership team.”
“Gene therapies have the potential to transform the lives of patients, and AVROBIO’s work in this space is incredibly exciting,” said Ms. May. “With our investigational therapy for Fabry advancing through a Phase 2 trial and our cystinosis program in the clinic in a Phase 1/2 study, now is the time to be building an innovative and comprehensive commercial strategy that will prepare us for potential future product launches. We are all committed to our goal of making these therapies widely accessible to patients, and I look forward to working with the AVROBIO team as we seek to deliver on that commitment.”
In connection with Ms. May's appointment, the Company's Compensation Committee granted her non-qualified stock options to purchase 98,700 shares of common stock of the Company as a material inducement to employment pursuant to Nasdaq Listing Rule 5635(c)(4). The stock options have an exercise price of $14.21 per share, representing the closing price of AVROBIO’s common stock as reported by Nasdaq on the grant date. The option award has a ten-year term and vests over four years, with 25% of the original number of shares vesting on the first anniversary of the grant date and the remainder vesting in equal monthly installments over the following three years. Vesting is subject to Ms. May’s continued service with AVROBIO through the applicable vesting dates.
