Mersana Therapeutics Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
October 27 2021 - 4:05PM
Mersana Therapeutics, Inc. (Nasdaq: MRSN), a clinical-stage
biopharmaceutical company focused on discovering and developing a
pipeline of antibody-drug conjugates (ADCs) targeting cancers in
areas of high unmet medical need, today announced the grant of an
inducement award to the newly appointed Senior Vice President
Strategic Product Planning & Program Leadership, Mohan Bala,
Ph.D. In connection with the appointment, the Compensation
Committee of the Board of Directors of Mersana Therapeutics
approved a stock option grant to Dr. Bala as an inducement material
to Dr. Bala entering into employment with Mersana Therapeutics, in
accordance with Nasdaq Listing Rule 5635(c)(4). The stock option
grant provides for the purchase of up to 112,500 shares of Mersana
Therapeutics common stock, at a price of $8.63 per share, the
closing price per share of Mersana Therapeutics common stock on the
date of grant, and vests over four years, with 25% of the shares
vesting on the first anniversary of the Dr. Bala’s employment start
date, and the remainder vesting in equal quarterly installments
over the following three years, subject to Dr. Bala’s continued
employment with Mersana Therapeutics through such applicable
vesting dates.
About Mersana
TherapeuticsMersana Therapeutics is a clinical-stage
biopharmaceutical company using its differentiated and proprietary
ADC platforms to rapidly develop novel ADCs with optimal efficacy,
safety and tolerability to meaningfully improve the lives of people
fighting cancer. Mersana’s lead product candidate, upifitamab
rilsodotin (UpRi), is a Dolaflexin ADC targeting NaPi2b and is
being studied in UPLIFT, a single-arm registration strategy in
patients with platinum-resistant ovarian cancer, as well as in
UPGRADE, a Phase 1 umbrella study in combination with other ovarian
cancer therapies. UpRi is also being studied in the expansion
portion of a Phase 1 proof-of-concept clinical study. XMT-1592,
Mersana’s second ADC product candidate targeting NaPi2b-expressing
tumors, was created using Mersana’s customizable and homogeneous
Dolasynthen platform and is in the dose escalation portion of a
Phase 1 proof-of-concept clinical study. The Company’s early-stage
programs include XMT-1660, a Dolasynthen ADC targeting B7-H4, as
well as XMT-2056, a STING-agonist ADC targeting a novel epitope of
HER2, developed using the Company’s Immunosynthen platform. In
addition, multiple partners are using Mersana’s Dolaflexin platform
to advance their ADC pipelines. The Company routinely posts
information that may be useful to investors on the “Investors and
Media” section of our website at www.mersana.com.
Contact:
Investor & Media ContactSarah
Carmody, 617-844-8577scarmody@mersana.com
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