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Avalanche Biotechnologies Awarded as Technology Pioneer by World Economic Forum

  • World Economic Forum Today Announced Its Selection of the World's 49 Most Promising Technology Pioneers 2015
  • Avalanche is Recognized for Achievements in Gene Therapy Technology
  • US and UK-based Companies Make up 80% of Awardees
  • The Full List of Recognized Technology Pioneers Can be Viewed Here

GENEVA, Aug. 5, 2015 (GLOBE NEWSWIRE) -- Avalanche Biotechnologies, Inc. (Nasdaq:AAVL), a biopharmaceutical company committed to improving or preserving the sight of people suffering from blinding eye diseases with an unmet medical need, announced today that it has been selected as a Technology Pioneer by the World Economic Forum in recognition of its outstanding achievements in adeno-associated virus (AAV)-based gene therapy technology.

Avalanche was chosen by a professional jury among hundreds of candidates as one of the 49 selected companies. Thanks to its selection, it will have access to the most influential and sought-after business and political network in the world, and be invited to the World Economic Forum's "Summer Davos" in Dalian, China, this September, or the Annual Meeting in Davos in January.

"We're glad to see Avalanche Biotechnologies make it to the selection," says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum. "Avalanche is part of a group of entrepreneurs who are more aware of the crucial challenges of the world around them, and who are determined to do their part to solve those challenges with their company."

"Innovative technology and pioneering research is at the core of our work to develop AAV-based gene therapy treatments for a range of eye diseases, including wet age-related macular degeneration and color blindness," said Hans P. Hull, J.D., interim Chief Executive Officer and President, at Avalanche. "We're incredibly honored to be recognized by the World Economic Forum as a Technology Pioneer among other forward-thinking and transformative organizations. We look forward to the potential impact our innovative technology may have on patients with sight-threatening eye diseases as we continue to advance our pipeline of gene therapies."

As in previous years, American-based entrepreneurs continue to dominate the list of technology pioneers: they account for more than two-thirds of the recipients, followed by the United Kingdom (4), Israel and the Netherlands (2), and individual recipients of Canada, Germany, Ireland, Italy, Sweden and Taiwan, China. France and Spain were among the countries not counting a recipient.

The Technology Pioneers were selected from among hundreds of applicants by a selection committee of 68 academics, entrepreneurs, venture capitalists and corporate executives. Notable members of the committee include Arianna Huffington (founder, Huffington Post) and Henry Blodget (editor-in-chief, Business Insider). The committee based its decisions on criteria including innovation, potential impact, working prototype, viability and leadership.

Past recipients include Google (2001), Wikimedia (2007), Mozilla (2007), Kickstarter (2011) and Dropbox (2011). More information on past winners can be found here.

For more information regarding this press release, please contact Peter Vanham, Media Lead, Technology Pioneers, at peter.vanham@weforum.org, or +41 79 620 91 29.

The World Economic Forum is an international institution committed to improving the state of the world through public-private cooperation in the spirit of global citizenship. It engages with business, political, academic and other leaders of society to shape global, regional and industry agendas.

Incorporated as a not-for-profit foundation in 1971 and headquartered in Geneva, Switzerland, the Forum is independent, impartial and not tied to any interests. It cooperates closely with all leading international organizations (www.weforum.org).

About Avalanche Biotechnologies, Inc.

Avalanche is a biopharmaceutical company committed to improving or preserving the sight of people suffering from blinding eye diseases with an unmet medical need. Avalanche's proprietary Ocular BioFactory™ is a platform for discovering and developing novel medicines with the potential to offer life-changing therapeutic benefit. Avalanche's product candidate, AVA-101, is in development for patients with wet age-related macular degeneration. For more information, please visit www.avalanchebiotech.com.

CONTACT: Peter Vanham, Media Lead, Technology Pioneers, peter.vanham@weforum.org, +41 79 620 91 29.

Source:Avalanche Biotechnologies, Inc.