Date: 2016-05-17
Type of information: Nomination
Compound:
Company: Fate Therapeutics (USA - CA)
Therapeutic area: Cancer - Oncology - Immunological diseases - Autoimmune diseases
Type agreement: nomination
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Details: * On May 17, 2016, Fate Therapeutics announced that Chris M. Storgard , M.D. has joined the Company as its Chief Medical Officer. Dr. Storgard is an experienced drug development clinician with a proven history of advancing early stage programs through clinical development and product commercialization. As CMO, he will lead the design and execution of the Company's clinical trials for its programmed cellular immunotherapies. Dr. Storgard has more than 20 years of experience in clinical drug development, most recently serving as an integral member of the executive team at Ardea Biosciences, a member of the AstraZeneca Group . As Vice President of Clinical Research and Development at Ardea, Dr. Storgard led the Zurampic® global clinical program to successful U.S. and European regulatory approvals. Before joining Ardea in 2011, Dr. Storgard held senior positions in drug development and medical affairs at Prometheus Laboratories , Biogen Idec , and Amgen, where he focused on biologic and small molecule development programs within the inflammation and oncology teams. Dr. Storgard holds his M.D. from the University of Saskatchewan . He also completed a fellowship in Rheumatology at Scripps Clinic and Research Center , and served as Senior Associate Consultant, Division of Rheumatology , and Assistant Professor and Member of the Molecular Medicine Program at the Mayo School of Medicine , Mayo Clinic in Minnesota . In connection with Dr. Storgard's appointment, the Company granted Dr. Storgard an option to purchase 200,000 shares of the Company's common stock with an exercise price equal to $1.54, the closing price per share of the Company's common stock as reported by NASDAQ on the effective date of grant, May 16, 2016 , which was the date Dr. Storgard's employment began. The option is a non-qualified stock option and vests over a period of four years, with 25 percent vesting on the one year anniversary of the grant date and the remaining 75 percent in approximately equal monthly increments over the succeeding thirty-six months, subject to Dr. Storgard's continuous employment through each vesting date. This award was granted as an inducement material to Dr. Storgard's entering into employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4), and was granted pursuant to the Fate Therapeutics, Inc. Inducement Equity Plan. The Company has reserved an aggregate of 500,000 shares of its common stock (including the shares underlying the option granted to Dr. Storgard ) for issuance under the Inducement Equity Plan, which was approved by the Company's Board of Directors on May 10, 2016 .
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