CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVROBIO, Inc. (NASDAQ: AVRO), a leading clinical-stage gene therapy company, today announced the closing of its previously announced underwritten public offering of 5,000,000 shares of its common stock. The aggregate gross proceeds to the company from the offering, before deducting underwriting discounts and commission and estimated offering expenses, totaled $75 million. As previously announced, the company has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.

Morgan Stanley, Cowen, Wells Fargo Securities and Barclays acted as joint book-running managers for the offering, and Wedbush PacGrow acted as co-manager.

AVROBIO intends to use the net proceeds from the offering, in addition to its existing cash resources, to fund its current programs in Fabry disease, cystinosis, Gaucher disease type 1, Hunter syndrome, Pompe disease and Gaucher disease type 3, fund external and internal manufacturing and process development activities and fund research and development activities that relate to its current and future clinical and preclinical activities, including the cost of research and development personnel. The company intends to use the remainder for planned general and administrative expenses, working capital and other general corporate purposes.

About AVROBIO

AVROBIO, Inc. is a leading clinical-stage gene therapy company. Our clinical-stage programs include Fabry disease, Gaucher disease type 1 and cystinosis and we also are advancing preclinical programs in Hunter syndrome, Pompe disease and Gaucher disease type 3.