Bioverativ Inc. (NASDAQ:BIVV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Effective on May 11, 2017, the Board of Directors (the “Board”)
of BioverativInc. (the “Company”) expanded its size from five
directors to six directors and appointed Geno Germano to fill the
vacancy created by the expansion.
Mr. Germano was most recently President of Intrexon Corporation,
having held that position from June 2016 through March 2017. Mr.
Germano previously served as Group President, Global Innovative
Pharma Business at Pfizer Inc., a global pharmaceutical
corporation, from 2014 to February 2016, and as President and
General Manager, Specialty Care and Oncology at Pfizer, from 2009
through 2013. Prior to that, he held various senior leadership
positions at Wyeth Pharmaceuticals and Johnson Johnson. He is a
member of Group of Fifty (G50) and previously served on the Board
of the Biotechnology Innovation Organization where he chaired the
International Committee and was a member of the Executive
Committee. He serves on the Advisory Board of the Healthcare
Businesswomens Association and is a Trustee of the Albany College
of Pharmacy, where he received his B.S. in Pharmacy. Mr. Germano
also serves on the Board of Directors of Sage Therapeutics,
Inc.Mr. Germanos qualifications to sit on the Board of Bioverativ
include his extensive experience working for various
pharmaceutical and biotechnology companies.
The Board determined that Mr. Germano qualifies as an independent
director under the rules of the U.S. Securities and Exchange
Commission and the listing standards of the NASDAQ Stock Market.
There are no arrangements or understandings between Mr. Germano
and any other person to which he was selected as a director, and
there are no transactions involving Mr. Germano that would be
required to be reported under Item404(a) of RegulationS-K.
Mr. Germano will participate in the Companys standard
non-employee director compensation program, and upon his initial
appointment to the Board, he was granted stock options to
purchase 21,729 shares of the Companys common stock, which vest
in three equal annual installments, under the Bioverativ 2017
Non-Employee Directors Equity Plan. Mr. Germano also entered into
the Company’s standard indemnification agreement, the form of
which was filed as Exhibit 10.9 to the Companys Registration
Statement on Form 10 filed on November 29, 2016.
Effective on May 11, 2017, the Board also approved changes to the
composition of the committees of the Board by adding Mr. Germano
to the Compensation Committee, and adding Anna Protopapas to the
Corporate Governance Committee.Following their appointments, the
composition of the committees of the Board are as follows:
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Audit Committee: Louis J. Paglia (Chair), Alexander J. |
|
Compensation Committee: Brian S. Posner (Chair), Geno |
|
Corporate Governance Committee:Alexander J. Denner, Ph.D. |
About Bioverativ Inc. (NASDAQ:BIVV)
Bioverativ Inc. (Bioverativ) is a biotechnology company. The Company is focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. It markets approximately two products, including ELOCTATE [Antihemophilic Factor (Recombinant), Fc Fusion Protein], and ALPROLIX [Coagulation Factor IX (Recombinant), Fc Fusion Protein], extended half-life clotting-factor therapies for the treatment of hemophilia A and hemophilia B, respectively. ELOCTATE and ALPROLIX use a process known as Fc fusion to link recombinant factor VIII and factor IX, respectively, to a protein fragment in the body known as Fc. The fusion of the factor with the Fc protein fragment uses a naturally occurring pathway and is designed to extend the half-life of the factor thereby making the product last longer in a person’s blood than various factor therapies. Its pipeline includes BIVV 001(rFVIIIFc-VWF-XTEN) and BIVV 002 (rFIXFc-XTEN). Bioverativ Inc. (NASDAQ:BIVV) Recent Trading Information
Bioverativ Inc. (NASDAQ:BIVV) closed its last trading session down -0.60 at 55.22 with 1,179,104 shares trading hands.