Momenta Pharmaceuticals,Inc. (NASDAQ:MNTA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 25, 2017, Momenta Pharmaceuticals,Inc. (the “Company”) appointed Ganesh V. Kaundinya, Ph.D., as its Chief Operating Officer. Dr. Kaundinya will continue to serve as the Company's Chief Scientific Officer. The Company publicly announced the appointment of Dr.Kaundinya as Chief Operating Officer in a press release dated October 2, 2017.
Dr. Kaundinya, age 51, is a co-founder of the Company and has been the Company's Chief Scientific Officer since September 2007. From September 2007 until his appointment as the Chief Operating Officer, Dr. Kaundinya was also a Senior Vice President of the Company. From April 2005 to September 2007, Dr. Kaundinya was the Company's Senior Vice President, Research, and from January 2002 until April 2005, Dr. Kaundinya served as the Company's Vice President, Technology. Dr.Kaundinya received his M.S. and Ph.D. in Chemical Engineering from the Massachusetts Institute of Technology.
In connection with Dr. Kaundinya's appointment as Chief Operating Officer, effective September 25, 2017, Dr. Kaundinya's annual base salary was increased to $492,000, and his annual cash bonus opportunity target was increased to 50% of his annual base salary. As previously disclosed, Dr. Kaundinya and the Company are parties to the Second Amended and Restated Employment Agreement, dated April 28, 2008, as amended.
About Momenta Pharmaceuticals,Inc. (NASDAQ:MNTA)
Momenta Pharmaceuticals, Inc. is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection). Its GLATOPA is a generic version of once-daily COPAXONE 20 milligrams/milliliter (mg/mL) indicated for the treatment of patients with relapsing-remitting multiple sclerosis (RRMS), a chronic disease of the central nervous system characterized by inflammation and neurodegeneration. It is developing M923, which is a biosimilar of HUMIRA and M834 as a biosimilar of ORENCIA. Its oncology product candidate Necuparanib, is an oncology product candidate, which have a range of effects on tumor cells and the environment, in which tumor cells grow. It focuses on M281, which is an Anti-FcRn program.
