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Posted 19 December, 2023

LianBio appointed Dr. Wang as new CEO

Nasdaq:LIAN appointed new Chief Executive Officer Dr. Wang in a 8-K filed on 19 December, 2023.


  In connection with Dr. Wang's departure, effective December 16, 2023, the Board appointed Adam Stone, member of the Board, as Interim Chief Executive Officer of the Company, until his successor is appointed or his earlier death, resignation or removal.  

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Overview of LianBio
Health Care/Life Sciences • Pharmaceuticals
LianBio operates as a biopharmaceutical company, which engages in the development and commercialization of medicines for patients with unmet medical needs. It develops a portfolio of clinically validated product candidates for cardiovascular, oncology, ophthalmology, inflammatory disease, and respiratory indications. The company was founded by Konstantin Poukalov on July 17, 2019 and is headquartered in Princeton, NJ.
Market Cap
$529M
View Company Details
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Compensatory Arrangements of Certain Officers.

Departure of Chief Executive Officer

On December 19, 2023, LianBio (the "Company") announced that Yizhe Wang, the Company's Chief Executive Officer and member of the Company's board of directors (the "Board"), has decided to resign as Chief Executive Officer and as a member of the Board, effective December 16, 2023, to pursue other business and professional interests and opportunities. The Company thanks Dr. Wang for his many contributions to the growth and success of the business during his tenure with the Company.

On December 16, 2023, the Company entered into a separation agreement with Dr. Wang (the "Separation Agreement"), pursuant to which Dr. Wang will be entitled to the following benefits:

-60 days' pay in lieu of notice at his final base rate of pay;

-Severance payment in the amount of $1,525,000 in equal installments twice per month for one (1) year beginning on January 1, 2024 and subsidized COBRA payments for up to 12 months; and

-Accelerated vesting for a portion of his outstanding options and RSUs and the extension of the exercise period for a portion of his vested options.

The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which will be filed as an exhibit to the Company's Annual Report on Form 10-K for the period ending on December 31, 2023. 

Appointment of Interim Chief Executive Officer

In connection with Dr. Wang's departure, effective December 16, 2023, the Board appointed Adam Stone, member of the Board, as Interim Chief Executive Officer of the Company, until his successor is appointed or his earlier death, resignation or removal. 

Mr. Stone (44) has served as a member of our Board since October 2019. Since July 2021 and February 2021, respectively, Mr. Stone has served as the Chief Executive Officer of ARYA Sciences Acquisition Corp V and ARYA Sciences Acquisition Corp IV, respectively, and as a member of their boards of directors. Mr. Stone has also served as a member of the boards of directors of Solid Biosciences since November 2015 and Immatics since July 2020. Mr. Stone also serves on the board of directors of Xontogeny LLC. Mr. Stone previously served as the chief executive officer and a member of the board of directors of ARYA Sciences Acquisitions Corps I, II, and III. Mr. Stone joined Perceptive, a life sciences focused investing firm and affiliate of the Company, in 2006 and has served as Chief Investment Officer since 2012 and is a member of the internal investment committees of Perceptive's credit opportunities and venture funds. Mr. Stone previously served as a Senior Analyst at Ursus Capital from 2001 to 2006, where he focused on biotechnology and specialty pharmaceuticals. Mr. Stone has also served as a member of the boards of directors of Solid Biosciences since November 2015 and Immatics since July 2020. Mr. Stone earned a bachelor's degree in molecular biology from Princeton University. 

Mr. Stone will remain as a director of the Company. No formal employment agreement has been entered into between Mr. Stone and the Company, and Mr. Stone will not be compensated for his service as the Interim Chief Executive Officer of the Company.

There are no family relationships between Mr. Stone and any director, executive officer or nominees thereof of the Company. There are no related party transactions between the Company and Mr. Stone that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.