BRIEF-AVROBIO And Tectonic Therapeutic Announce Merger

Reuters01-30

Jan 30 (Reuters) - AVROBIO Inc :

* AVROBIO AND TECTONIC THERAPEUTIC ANNOUNCE MERGER

* AVROBIO INC - COMBINED COMPANY TO BE NASDAQ-LISTED

* AVROBIO INC - COMBINED COMPANY EXPECTED TO HAVE APPROXIMATELY $165 MILLION IN CASH AND CASH EQUIVALENTS AT CLOSE TO PROVIDE CASH RUNWAY INTO MID-2027

* AVROBIO INC - FUNDING IS EXPECTED TO ADVANCE LEAD ASSET TX45

* AVROBIO INC - $130.7 MILLION IN PRIVATE FINANCING COMMITMENTS WITH NEW AND EXISTING LEADING LIFE SCIENCES INVESTORS IN CONNECTION WITH MERGER

* AVROBIO INC - AVROBIO WILL ACQUIRE 100% OF OUTSTANDING EQUITY INTERESTS OF TECTONIC

* AVROBIO INC - COMBINED COMPANY IS EXPECTED TO OPERATE UNDER NAME TECTONIC THERAPEUTIC, INC. AND TRADE ON NASDAQ UNDER TICKER SYMBOL "TECX."

* AVROBIO INC: MERGER HAS BEEN APPROVED BY BOARD OF DIRECTORS OF BOTH COMPANIES AND IS EXPECTED TO CLOSE IN Q2 OF 2024

* AVROBIO INC: FOLLOWING CLOSING OF MERGER, COMBINED COMPANY WILL BE LED BY DR. REICIN AND OTHER MEMBERS OF TECTONIC MANAGEMENT TEAM

* AVROBIO INC - UPON COMPLETION OF MERGER, PRE-MERGER AVROBIO SHAREHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 22.3% OF COMBINED COMPANY

* AVROBIO INC: FOLLOWING CLOSING OF MERGER AVROBIO WILL BE RENAMED TECTONIC THERAPEUTIC, INC.

* AVROBIO INC - UPON COMPLETION OF MERGER PRE-MERGER TECTONIC SHAREHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 40.2% OF COMBINED COMPANY

* AVROBIO INC: MERGER AGREEMENT PROVIDES THAT POST-MERGER, ONE BOARD MEMBER FROM AVROBIO WILL JOIN BOARD OF DIRECTORS OF COMBINED COMPANY.

* AVROBIO INC - MERGER AGREEMENT PROVIDES THAT POST-MERGER, ONE BOARD MEMBER FROM AVROBIO WILL JOIN BOARD OF DIRECTORS OF COMBINED COMPANY

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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