Provention Bio, Inc. , a biopharmaceutical company dedicated to intercepting and preventing immune-mediated disease, today announced the appointment of Miguel Sanjuan, Ph.D. as Senior Vice President of Research and Early Development. Dr. Sanjuan further strengthens the Company’s internal expertise in the core areas of immunomodulatory therapy, translational medicine and autoimmune disease.
“As we continue to grow as an organization pioneering early interception and prevention of debilitating and life-threatening autoimmune diseases, it is clear we have reached the stage where our novel approach and exciting pipeline of therapeutic candidates represents a compelling career advancement opportunity for seasoned industry experts of the caliber of Miguel,” stated Francisco Leon, M.D., Ph.D., Chief Scientific Officer & Co-Founder, Provention Bio. “As we advance our lead therapeutic candidates in parallel with our ambitions to expand, reinforce, enhance and enrich our immunology-focused pipeline, Miguel’s leadership and expertise will play a critical role in the identification, sourcing and development of new assets and partnerships and we are excited to welcome him to our team.”
Dr. Sanjuan brings over 20 years of research experience that spans both industry and academia. Dr. Sanjuan most recently served as vice president, head of translational biology at Gossamer Bio and founder of Gossamer’s therapeutic biologics group. Prior to joining Gossamer Bio, Dr. Sanjuan was the head of immuno-oncology small molecule discovery biology at Bristol Myers Squibb. Prior to Bristol Myers Squibb, Dr. Sanjuan was an associate director at the Respiratory, Inflammation & Autoimmunity Department at Medimmune, focused on the discovery of novel molecules for the treatment of autoimmune disorders.
Prior to joining industry, Dr. Sanjuan served as a research scientist at St. Jude Children’s Research Hospital. Dr. Sanjuan received a bachelor’s degree in biology from the University of Seville and a doctorate in molecular biology from the Autonomous University of Madrid and pursued post doctorate training at Johnson & Johnson in San Diego, California.
Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
In connection with the hiring of Dr. Sanjuan, the Compensation Committee of the Board of Directors of the Company approved the grant to Dr. Sanjuan of a stock option to purchase 175,000 shares of the Company’s common stock. The option was granted without stockholder approval pursuant to Nasdaq Listing Rule 5635(c)(4) as an inducement, material to Dr. Sanjuan entering into employment with the Company. The stock option was granted with a 10-year term and an exercise price equal to $6.54, the closing price per share of the Company’s common stock as reported by Nasdaq on November 1, 2021. The option will vest 25% on the one year anniversary of the grant date and 75% in equal monthly installments thereafter so that the grant is fully vested on the four year anniversary of the grant date, provided that Dr. Sanjuan continues to serve as an employee of, or other service provider to, the Company on each such vesting date. The stock option is subject to the terms of the Provention Bio, Inc. 2020 Inducement Plan.
About Provention Bio, Inc.:
Provention Bio, Inc. is a biopharmaceutical company focused on advancing the development of investigational therapies that may intercept and prevent debilitating and life-threatening immune-mediated disease. The Company’s pipeline includes clinical-stage product candidates that have demonstrated in pre-clinical or clinical studies proof-of-mechanism and/or proof-of-concept in autoimmune diseases, including type 1 diabetes, celiac disease and lupus. Visit www.ProventionBio.com for more information and follow us on Twitter: @ProventionBio.
Internet Posting of Information:
Provention Bio, Inc. uses its website, www.proventionbio.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation F.D. Such disclosures will be included on the Company’s website in the “News” section. Accordingly, investors should monitor this portion of the Company’s website, in addition to following its press releases, SEC filings and public conference calls and webcasts.
Robert Doody, VP of Investor Relations
Sam Martin, Argot Partners
Lori Rosen, LDR Communications