ONCOSEC MEDICAL INCORPORATED (NASDAQ:ONCS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(d) On September 7, 2017, the Board of Directors of OncoSec Medical Incorporated (the ”Company”) appointed Mr. Daniel J. O’Connor, J.D., as a director on the Company’s Board of Directors and as a member of the Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee and Finance Committee of the Company’s Board of Directors, in each case effective as of September 7, 2017. The Company’s Board of Directors has determined that Mr. O’Connor qualifies as independent under applicable rules of the Nasdaq Stock Market.
Mr. O’Connor, J.D., age 52, served in various senior roles for Advaxis, Inc. from August 2013 until his resignation in July 2017, including most recently as President and Chief Executive Officer. At Advaxis, Mr. O’Connor led the company in raising more than $250 million in funding and facilitated the company’s transformation into a patient-focused cancer immunotherapy company. During his tenure at Advaxis, Mr. O’Conner was also instrumental in establishing partnerships with other companies, including Amgen Inc., Merck & Co. and Bristol-Myers Squibb. In addition, under his leadership, Advaxis advanced four new cancer immunotherapy drug candidates into clinical trials, as well as several PD-1 combination clinical studies with Merck’s drug Keytruda® and Bristol-Myers Squibb’s drug Opdivo®. Previously, Mr. O’Connor was Senior Vice President for ImClone Systems, where he supported the clinical development, launch, and commercialization of ImClone’s drug ERBITUX®, and the sale of ImClone to Eli Lilly in 2008. Prior to that, Mr. O’Connor served as General Counsel at PharmaNet (now inVentiv Clinical Health), and was part of the senior leadership team that grew the company from a start-up contract research organization into a leader in clinical research. Mr. O’Connor is a 1995 graduate of the Penn State University’s Dickinson School of Law in Carlisle, Pennsylvania and currently serves as an Entrepreneur Trusted Advisor to its Dean. He graduated from the United States Marines Corps Officer Candidate School in 1988 and was commissioned as an officer in the U.S. Marines, attaining the rank of Captain while serving in Saudi Arabia during Operation Desert Shield. Mr. O’Connor is currently the Vice Chairman of BioNJ and was formerly a New Jersey criminal prosecutor.
Mr. O’Connor’s compensation for his services as a director, including his services on all committees of the Company’s Board of Directors, will consist of annual cash compensation of $50,000. In addition, upon his appointment as a director, Mr. O’Connor was granted a stock option award to purchase up to 100,000 shares of the Company’s common stock, which has an exercise price of $1.08 and vests in equal monthly installments over a 12-month period subject to continued service as a director on each vesting date. Additionally, upon his appointment, the Company entered into an indemnification agreement with Mr. O’Connor in the same form as the indemnification agreements the Company has entered into with its other directors. In general, these indemnification agreements require the Company to indemnify a director to the fullest extent permitted by law against liabilities that may arise by reason of his or her service for the Company. Other than these arrangements, there are no arrangements or understandings between Mr. O’Connor and any other persons to which he was selected as a director of the Company. Mr. O’Connor is not a party to any transaction that would require disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.
On September 7, 2017, the Company issued a press release announcing the appointment of Mr. O’Connor as a director of the Company, a copy of which is attached as Exhibit 99.1 hereto and incorporated herein by reference.
ONCOSEC MEDICAL Inc ExhibitEX-99.1 2 ex99-1.htm OncoSec Appoints Industry Leader Daniel J. O’Connor to its Board of Directors Former President and CEO of Advaxis Immunotherapies and Senior Vice President of ImClone Systems adds significant biopharma clinical,…To view the full exhibit click here
About ONCOSEC MEDICAL INCORPORATED (NASDAQ:ONCS)
OncoSec Medical Incorporated is a biotechnology company. The Company is focused on designing, developing and commercializing gene therapies, therapeutics and medical approaches to stimulate an anti-tumor immune response for the treatment of cancer. The Company’s lead product candidate, ImmunoPulse IL-12, consists of a plasmid construct encoding the proinflammatory cytokine, IL-12, which is delivered into the tumor through in vivo electroporation. As of July 31, 2016, the Company was pursuing two Phase II trials: ImmunoPulse IL-12 monotherapy in patients with metastatic melanoma and ImmunoPulse IL-12 plus pembrolizumab in patients with advanced, metastatic melanoma. In addition, it is pursuing ImmunoPulse IL-12 monotherapy in patients with triple negative breast cancer. Its ImmunoPulse product candidates are based on its deoxyribonucleic acid (DNA)-based immunotherapy technology, which is designed to stimulate the human immune system, resulting in systemic anti-tumor immune responses.