Annexon, Inc., a clinical-stage biopharmaceutical company specializing in complement medicines for autoimmune and neurodegenerative disorders, has announced the granting of an equity inducement award to Dr. Jamie Dananberg, the company’s Chief Medical Officer. The award, approved on July 22, 2023, grants Dr. Dananberg an option to purchase 275,000 shares of Annexon common stock under the terms of the 2022 Employment Inducement Award Plan.
The option given to Dr. Dananberg has a ten-year term and carries an exercise price per share of $3.54, which aligns with Annexon’s common stock closing price on August 1, 2023, the date of the grant. The option will vest over a four-year period, with 25% of the shares becoming accessible on the first anniversary of Dr. Dananberg’s employment start date. The remaining shares will vest monthly in increments of 1/48th, contingent upon Dr. Dananberg’s continued service through the applicable vesting dates.
This equity inducement award constitutes a significant recognition of Dr. Dananberg’s expertise and contribution to Annexon’s mission to develop innovative complement medicines. Annexon is dedicated to addressing classical complement-mediated autoimmune, neurodegenerative, and ophthalmic disorders through its groundbreaking therapies. By granting this award, Annexon acknowledges Dr. Dananberg’s instrumental role in advancing the company’s research and clinical development efforts.
The CEO and President of Annexon, Mr. Douglas Love, expressed his confidence in Dr. Dananberg, stating, We are thrilled to provide this equity option to Dr. Dananberg, who has demonstrated exceptional leadership and expertise in the field of complement medicines. His contributions to Annexon have been invaluable, and we believe this award reflects the belief and trust we have in his abilities.
Dr. Dananberg joined Annexon as the Chief Medical Officer in recent years and has played a pivotal role in shaping the company’s clinical strategies and programs. He brings extensive experience in clinical development and has previously held leadership positions at renowned pharmaceutical companies. Dr. Dananberg’s expertise will continue to guide Annexon in its efforts to develop transformative therapies that target complement-mediated diseases.
Annexon’s focus on complement medicines has garnered attention within the biopharmaceutical industry. Complement-mediated disorders arise from dysregulation of the body’s immune system, causing chronic inflammation and tissue damage. Annexon’s novel therapies aim to modulate the complement cascade, offering potential avenues for treating a range of diseases where complement activation plays a significant role.
Through the granting of this equity award, Annexon reinforces its commitment to attracting and retaining top talent in the field of complement medicines. This strategic move not only incentivizes Dr. Dananberg but also sends a positive signal to the industry regarding Annexon’s dedication to advancing its therapeutic pipeline and delivering transformative solutions for patients in need.
As Annexon continues to progress its clinical programs and expand its portfolio, Dr. Dananberg’s leadership and expertise will be instrumental in driving the company’s mission forward. With the granting of this equity inducement award, Annexon showcases its confidence and appreciation for the important work carried out by its Chief Medical Officer.
