Aerovate Therapeutics Appoints Allison Dorval To Its Board of Directors Boston

Aerovate Therapeutics

Appoints Allison Dorval To Its Board of Directors

2021- Aerovate Therapeutics, Inc. (Nasdaq: AVTE), a clinical stage biopharmaceutical company focused on developing drugs that meaningfully

improve the lives of patients with rare cardiopulmonary disease, today announced the appointment of Allison Dorval, chief financial officer

of Voyager Therapeutics, Inc. ("Voyager"), as a member of Aerovate's Board of Directors.

of Allison's corporate finance and broad operating expertise to our Board of Directors will serve Aerovate well as we seek to develop

and commcercialize AV-101, our novel dry powder inhaled formulation of the drug imatinib, for the treatment of pulmonary arterial hypertension,

also known as PAH," said Timothy Noyes, chief executive officer of Aerovate. "We are thrilled to welcome her to Aerovate

and to benefit from her deep experience, which includes providing financial stewardship for publicly traded companies."

Ms. Dorval currently

serves as chief financial officer and principal finance and accounting officer at Voyager Therapeutics, and is a member of the Board

of Directors of Puma Biotechnology, Inc. She has over twenty years of corporate finance, accounting and operating experience, including

14 years of life sciences executive finance experience. Prior to Voyager, Ms. Dorval served as vice president, controller, at Juniper

Pharmaceuticals, Inc., and as chief financial officer at Insulet Corporation, where she led financial planning, reporting and accounting.

Previously, Ms. Dorval held corporate finance positions with iBasis, Inc. and Digitas Inc. Ms. Dorval is a certified public accountant

and began her career in public accounting at PricewaterhouseCoopers LLP, where she held positions of increasing responsibility and scope.

Ms. Dorval obtained a Bachelor of Science in Business Administration (accounting concentration) from the University of Vermont.

the Aerovate Board of Directors presents a unique opportunity to contribute to the development of a novel approach to treating pulmonary

arterial hypertension," commented Ms. Dorval. "People suffering from PAH face a poor prognosis, despite the availability

of multiple approved therapies. I am excited about helping Aerovate deliver a potential new treatment option for these underserved patients."

About Aerovate Therapeutics, Inc.

Aerovate is a clinical

stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary

disease. Aerovate's initial focus is on advancing AV-101, its dry powder inhaled formulation of the drug imatinib for the treatment of

pulmonary arterial hypertension, or PAH.

Forward-Looking Statements

This press release contains forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express

or implied statements regarding the advancement of our clinical programs, our expectations of the therapeutic benefits related thereto,

and our growth as a company and the anticipated contribution of the members of our board of directors to our operations and progress.

The words "may," "will," "could," "would," "should," "expect,"

"plan," "anticipate," "intend," "believe," "estimate," "predict,"

"project," "potential," "continue," "target" and similar expressions are intended to

identify forward-looking statements, although not all forward-looking statements contain these identifying words.

statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks,

uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any

forward-looking statements contained in this press release, including, without limitation, those risks and uncertainties related to the

advancement of our clinical program for AV-101, the expected impact and contribution of our Board of Directors and executives to our

business, and other risks identified in our filings with the Securities and Exchange Commission ("SEC"), including our Registration

Statement on Form S-1, and subsequent filings with the SEC. We caution you not to place undue reliance on any forward-looking statements,

which speak only as of the date they are made. We disclaim any obligation to publicly update or revise any such statements to reflect

any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the

likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained

in this press release represent our views only as of the date hereof and should not be relied upon as representing its views as of any