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Posted 31 May, 2023

TScan Therapeutics, Inc. appointed Gavin MacBeath, Ph.D. as new CEO

Nasdaq:TCRX appointed new Chief Executive Officer Gavin MacBeath, Ph.D. in a 8-K filed on 31 May, 2023.


  On May 24, 2023, the Board of Directors (the "Board") of TScan Therapeutics, Inc. (the "Company") appointed Gavin MacBeath, Ph.D., as Chief Executive Officer and member the Board, effective May 24, 2023.  

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Overview of TScan Therapeutics, Inc.
Health Care/Life Sciences • Biotechnology
TScan Therapeutics, Inc. discovers and develops transformative T cell therapies (TCR-T) to treat liquid cancers, solid tumors and other serious diseases. Its platform identifies previously uncharacterized, clinically-derived shared T cell antigens and all off-target TCR interactions, to enable the development of efficacious TCR-Ts. The company was founded by Christoph H. Westphal, Stephen Elledge, Lea Hachigian, and Tomasz Kula in 2018 and is headquartered in Boston, MA.
Market Cap
$310M
View Company Details
TScan Therapeutics, Inc. by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


On May 24, 2023, the Board of Directors (the "Board") of TScan Therapeutics, Inc. (the "Company") appointed Gavin MacBeath, Ph.D., as Chief Executive Officer and member the Board, effective May 24, 2023. Dr. MacBeath will serve as a Class I director until the date of the annual meeting of stockholders following the year ending December 31, 2024, or until his earlier death, resignation or removal. Dr. MacBeath had been serving as acting Chief Executive Officer, since March 28, 2023, and as Chief Scientific and Operating Officer of the Company. Dr. MacBeath will no longer serve as Chief Scientific and Operating Officer of the Company, effective May 24, 2023. 

In connection with Dr. MacBeath's appointment as Chief Executive Officer of the Company, the Board agreed to increase his base salary to $565,000 from $470,000, and his target annual bonus to 50% from 40% of his base salary. 

On May 24, 2023, Dr. MacBeath also received an award of stock options for 1,121,300 shares of common stock with an exercise price equal to the closing price on the Nasdaq Global Market on the date of grant of $2.49 per share. These stock option awards were part of a grant to other recipients on May 24, 2023 aggregating 7,403,100 stock option awards, all of which are subject to and contingent upon the approval by the Company's stockholders of an amendment of the Company's 2021 Equity Incentive Plan (the "Plan Amendment"), increasing the number of shares available for issuance thereunder by 7,500,000, within 12 months of the Board's approval of the Plan Amendment on May 24, 2023. Of the options granted to Dr. MacBeath, 536,300 would vest as follows: 25% on the one-year anniversary of May 24, 2023 and the balance in 36 monthly installments thereafter and 585,000 would vest as follows: 25% on February 2, 2025 and the balance in 36 monthly installments thereafter, in each case subject to Dr. MacBeath's continued employment.