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Avalanche Biotechnologies Prices Initial Public Offering of $102.0 Million of Common Stock

July 31, 2014

MENLO PARK, Calif., July 31, 2014 -- Avalanche Biotechnologies, Inc., a clinical-stage biotechnology company focused on discovering and developing novel gene therapies to transform the lives of patients with sight-threatening ophthalmic diseases, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of $17.00 per share, before underwriting discounts, commissions and estimated expenses. All of the shares of common stock are being offered by Avalanche. The Company's common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading today under the ticker symbol "AAVL".

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