Solid Biosciences stockholders approve acquisition of AavantiBio

Solid Biosciences announced the results of the special meeting of the stockholders held on December 1. At the special meeting, Solid’s stockholders voted in favor of all proposals, including the proposal to issue shares of Solid’s common stock to stockholders of AavantiBio in connection with the acquisition of AavantiBio pursuant to the agreement and plan of merger dated September 29 and to certain institutional investors in connection with a concurrent $75M private placement. AavantiBio is a privately held gene therapy company focused on transforming the lives of patients with Friedreich’s ataxia and rare cardiomyopathies. Subject to the satisfaction or waiver of the other customary closing conditions, the closings of the merger agreement and the private placement are anticipated to take place on or around Friday, December 2. The combined company will focus on advancing a portfolio of neuromuscular and cardiac programs, led by SGT-003, a differentiated gene transfer candidate, for the treatment of Duchenne. Additional pipeline programs include AVB-202, a gene transfer candidate for the treatment of Friedreich’s ataxia, AVB-401 for BAG3 mediated dilated cardiomyopathy, and additional assets for the treatment of undisclosed cardiac diseases.