Adverum terminates Durham lease, issues $7.4M note; Phase 3 ARTEMIS fully enrolled (284 patients)

Adverum Biotechnologies, Inc.

Terminated lease at 14 TW Alexander Drive, Durham, NC effective Nov 19, 2025; pays $0.1M cash and releases $7.4M promissory note from escrow.
Promissory note matures Jan 2031 or earlier if $150M annual revenue/royalties from Ixo-vec; accelerates upon change of control.
Completed target enrollment of 284 patients in pivotal Phase 3 ARTEMIS trial on Nov 19, 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Adverum Biotechnologies, Inc. terminated Original Lease with ARE-NC Region No. 21 LLC valued at $0.1 million (effective 2025-11-19).

Action: termination
Agreement: lease
Counterparty: ARE-NC Region No. 21 LLC
Value: $0.1 million
Effective: 2025-11-19

Exact text from the filing

On November 20, 2025, ARE-NC Region No. 21 LLC, a Delaware limited liability company (the “Landlord”), delivered to Adverum Biotechnologies, Inc. (the “Company”) and Adverum NC, LLC, a notice of termination (the “Termination Notice”) of that certain Lease Agreement, dated January 8, 2021, as amended (the “Original Lease”), for the Company’s premises located at 14 TW Alexander Drive, Durham, North Carolina. Pursuant to the Notice, the Original Lease was terminated as of November 19, 2025.

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Source: SEC EDGAR

accession 0001193125-25-291327

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