<SEC-DOCUMENT>0001231919-25-000588.txt : 20251209
<SEC-HEADER>0001231919-25-000588.hdr.sgml : 20251209
<ACCEPTANCE-DATETIME>20251209172917
ACCESSION NUMBER:		0001231919-25-000588
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251209
FILED AS OF DATE:		20251209
DATE AS OF CHANGE:		20251209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Frazier Life Sciences Public Fund, L.P.
		CENTRAL INDEX KEY:			0001863769
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36579
		FILM NUMBER:		251560083

	BUSINESS ADDRESS:	
		STREET 1:		1001 PAGE MILL ROAD
		STREET 2:		BUILDING 4, SUITE B
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304
		BUSINESS PHONE:		650-325-5156

	MAIL ADDRESS:	
		STREET 1:		1001 PAGE MILL ROAD
		STREET 2:		BUILDING 4, SUITE B
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94304

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FHMLSP, L.P.
		CENTRAL INDEX KEY:			0001879466
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36579
		FILM NUMBER:		251560082

	BUSINESS ADDRESS:	
		STREET 1:		C/O FRAZIER HEALTHCARE PARTNERS
		STREET 2:		601 UNION STREET, SUITE 3200
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		(206) 621-7200

	MAIL ADDRESS:	
		STREET 1:		C/O FRAZIER HEALTHCARE PARTNERS
		STREET 2:		601 UNION STREET, SUITE 3200
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FHMLSP, L.L.C.
		CENTRAL INDEX KEY:			0001879465
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36579
		FILM NUMBER:		251560081

	BUSINESS ADDRESS:	
		STREET 1:		C/O FRAZIER HEALTHCARE PARTNERS
		STREET 2:		601 UNION STREET, SUITE 3200
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101
		BUSINESS PHONE:		(206) 621-7200

	MAIL ADDRESS:	
		STREET 1:		C/O FRAZIER HEALTHCARE PARTNERS
		STREET 2:		601 UNION STREET, SUITE 3200
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98101

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Adverum Biotechnologies, Inc.
		CENTRAL INDEX KEY:			0001501756
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				205258327
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 CARDINAL WAY
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94063
		BUSINESS PHONE:		(650) 649-1004

	MAIL ADDRESS:	
		STREET 1:		100 CARDINAL WAY
		CITY:			REDWOOD CITY
		STATE:			CA
		ZIP:			94063

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Avalanche Biotechnologies, Inc.
		DATE OF NAME CHANGE:	20100921
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-12092025_101212.xml
<TEXT>
<XML>
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<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-09</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001501756</issuerCik>
        <issuerName>Adverum Biotechnologies, Inc.</issuerName>
        <issuerTradingSymbol>ADVM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001863769</rptOwnerCik>
            <rptOwnerName>Frazier Life Sciences Public Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FRAZIER LIFE SCIENCES MANAGEMENT, L.</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PAGE MILL RD, BUILDING 4, SUITE B</rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94304</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>true</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001879466</rptOwnerCik>
            <rptOwnerName>FHMLSP, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>FRAZIER LIFE SCIENCES MANAGEMENT, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PAGE MILL RD, BUILDING 4, SUITE B</rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94304</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001879465</rptOwnerCik>
            <rptOwnerName>FHMLSP, L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>FRAZIER LIFE SCIENCES MANAGEMENT, L.P</rptOwnerStreet1>
            <rptOwnerStreet2>1001 PAGE MILL RD, BUILDING 4, SUITE B</rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94304</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>U</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4288949</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.56</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Reflects disposition of the Issuer's equity securities on December 9, 2025 upon the consummation of the transactions contemplated by the Agreement and Plan of Merger (the &quot;Merger Agreement&quot;), dated as of October 24, 2025, by and among Issuer, Eli Lilly and Company (&quot;Parent&quot;) and Tigers Acquisition Corporation, a wholly owned subsidiary of Parent (&quot;Merger Sub&quot;), including the consummation of the merger between Issuer and Merger Sub and related tender offer from Merger Sub to the stockholders of the Issuer (the &quot;Offer&quot;). Pursuant to the Offer, Merger Sub purchased each share of the Issuer's Common Stock (&quot;Shares&quot;) held by the Reporting Person in exchange for (i) $3.56 per share in cash plus (ii) one non-tradable contingent value right (&quot;CRV&quot;) that entitles the holder to receive up to an additional $8.91 per CVR in cash upon the achievement of two milestones described in the Merger Agreement.</footnote>
        <footnote id="F2">The shares are held directly by Frazier Life Sciences Public Fund, L.P. FHMLSP, L.P. is the general partner of Frazier Life Sciences Public Fund, L.P. and FHMLSP, L.L.C. is the general partner of FHMLSP, L.P.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P., GP of Frazier Life Sciences Public Fund, L.P.</signatureName>
        <signatureDate>2025-12-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Steve R. Bailey, CFO of FHMLSP, L.L.C., GP of FHMLSP, L.P.</signatureName>
        <signatureDate>2025-12-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Steve R. Bailey, CFO of FHMLSP, L.L.C.</signatureName>
        <signatureDate>2025-12-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
