Fate Therapeutics Appoints Jim Beitel as Senior Vice President, Corporate Development
September 14 2017 - 8:00AM
Fate Therapeutics, Inc. (NASDAQ:FATE), a biopharmaceutical company
dedicated to the development of programmed cellular immunotherapies
for cancer and immune disorders, announced today that the Company
has appointed Jim Beitel, M.B.A. as Senior Vice President,
Corporate Development. Mr. Beitel is responsible for developing and
implementing strategic growth initiatives including expanding the
Company’s induced pluripotent stem cell (iPSC)-derived cell therapy
pipeline through corporate partnerships.
“We are very pleased to welcome Jim as we advance our two
wholly-owned cellular immunotherapy programs through initial
clinical investigation and pioneer the development of off-the-shelf
cancer immunotherapies using our proprietary master pluripotent
cell line platform,” said Scott Wolchko, President and Chief
Executive Officer of Fate Therapeutics. “Jim brings a strong track
record of leadership in life sciences corporate development ranging
from commercial-stage asset management to early-stage product and
technology platform partnerships.”
“It is an exciting time to join the team at Fate Therapeutics as
multiple highly-differentiated cancer immunotherapies are now
emerging from its ground-breaking science,” said Mr. Beitel. “The
Company’s robust iPSC product platform for development of
off-the-shelf NK- and T-cell product candidates has the potential
to transform today’s paradigm of personalized cell therapy, and I
look forward to working with the executive and scientific teams to
further realize this opportunity including through high-value
product development partnerships.”
Mr. Beitel has more than 20 years of leadership experience in
corporate development, strategy, sales and marketing, project
management and finance with experience across the spectrum of life
science companies. Mr. Beitel was previously Vice President of
Corporate Development and Operations at Avanir Pharmaceuticals,
where he facilitated the company’s growth into a multi-product
organization and the subsequent $3.5 billion acquisition of Avanir
by Otsuka. Prior to Avanir, Mr. Beitel held various business
development, sales and marketing, strategy and finance roles with
increasing responsibility at Amgen, La Jolla Pharmaceutical Company
and Zacharon Pharmaceuticals. Mr. Beitel holds a Master in Business
Administration from Harvard Business School and a Bachelor of
Science in Engineering from the University of Kansas.
In connection with his commencement of employment, the Company
granted Mr. Beitel an option to purchase 200,000 shares of the
Company’s common stock with an exercise price equal to $4.23,
the closing price per share of the Company’s common stock as
reported by NASDAQ on September 11, 2017, which was the date
of commencement of Mr. Beitel’s employment with the Company and the
effective date of grant. The option is a non-qualified stock option
and vests over a period of four years, with 25 percent vesting on
the one year anniversary of the grant date and the remaining 75
percent in approximately equal monthly increments over the
succeeding thirty-six months, subject to Mr. Beitel’s continuous
employment through each vesting date. This award was granted as an
inducement material to Mr. Beitel entering into employment with the
Company in accordance with NASDAQ Listing Rule 5635(c) (4), and was
granted pursuant to the Fate Therapeutics, Inc. Inducement Equity
Plan.
About Fate Therapeutics, Inc. Fate Therapeutics
is a clinical-stage biopharmaceutical company dedicated to the
development of programmed cellular immunotherapies for cancer and
immune disorders. The Company's hematopoietic cell therapy pipeline
is comprised of NK- and T-cell immuno-oncology programs, including
off-the-shelf product candidates derived from engineered induced
pluripotent cell lines, and immuno-regulatory programs, including
product candidates to prevent life-threatening complications in
patients undergoing hematopoietic cell transplantation and to
promote immune tolerance in patients with autoimmune disease. Its
adoptive cell therapy programs are based on the Company's
novel ex vivo cell programming approach, which it applies
to modulate the therapeutic function and direct the fate of immune
cells. Fate Therapeutics is headquartered in San Diego, CA. For
more information, please visit www.fatetherapeutics.com.
Forward-Looking StatementsThis release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the Company’s advancement of and plans related to the
Company’s product candidates and research and development programs.
These and any other forward-looking statements in this release are
based on management's current expectations of future events and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially and adversely from those set
forth in or implied by such forward-looking statements. These risks
and uncertainties include, but are not limited to, the risk of
cessation or delay of planned clinical and development activities
for a variety of reasons (including any delay in enrolling patients
in clinical trials, or the occurrence of any adverse events or
other results that may be observed during development), and the
risk that results observed in prior preclinical studies of the
Company’s product candidates may not be replicated in subsequent
studies or clinical trials. For a discussion of other risks and
uncertainties, and other important factors, any of which could
cause the Company’s actual results to differ from those contained
in the forward-looking statements, see the risks and uncertainties
detailed in the Company’s periodic filings with the Securities and
Exchange Commission, including but not limited to the Company’s
most recently filed periodic report and, from time to time, in the
Company’s other investor communications. The Company is
providing the information in this release as of this date and does
not undertake any obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or otherwise.
Contact: Christina Tartaglia Stern Investor
Relations, Inc. 212.362.1200 christina@sternir.com
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