Liftstream Releases Board Director and CEO Compensation and Governance 2015 Report – San Diego Biotechnology Cluster
Executive committee leadership and oversight by experienced and skilled boards will improve performance and governance of the biotechnology companies driving innovation. Understanding the landscape of corporate governance in biotech clusters will help companies evaluate their own boards’ strength.
While shareholders have a wide spectrum of views on 2016 proxy season, the main focus is always on how to achieve great accountability through transparency and engagement. In recent years, the call for corporate transparency and engagement generally take three forms: proxy access, votes on executive compensation and shareholder activism. Here we highlight how the similar trends prevail in 2016.
Fair and equitable compensation is a challenge which grips leaders at all levels of the corporate ladder. It is CEOs and Boards who often receive the brunt of the hostile objections to what are viewed as excessive rewards. While undershooting on compensation also provokes equally audible protestations among those who wish for the company to continue to attract market leading talent and retain it effectively. For many, the correlation between financial rewards and quality talent is incontestable. For others, the connection is more opaque and the financial gains seen as disproportionate.
The San Diego biotechnology cluster is among the top biotech clusters in the US. Life sciences activity accounts for more than $31.8 billion of economic impact in San Diego. According to California Life Sciences Industry 2016 Report (here), San Diego biotech cluster employed 38,061 people in 2014.
Tris Pharma, a pharmaceutical company based in Monmouth Junction, New Jersey, has appointed Sharon Clarke to the position of Chief Commercial Officer to lead the firm’s brand business and launch its first commercial product. The firm has a robust portfolio of approved New Drug Applications and late-stage pipeline of innovative technology based product candidates for the treatment of Attention-Deficit Hyperactivity Disorder.
Zavante Therapeutics, a late clinical-stage biopharmaceutical company based in San Diego, California, has closed a $45 million Series A financing, consisting of $35 million from new investors and $10 million from the conversion of outstanding convertible notes.
PhaseBio Pharmaceuticals, a clinical-stage biopharmaceutical company head-quartered in Malvern, PA, has appointed John Lee as Chief Medical Officer based in Malvern and John Sharp as Chief Financial officer based in San Diego.
aTyr Pharma, a San Diego-based biotherapeutics company addressing rare diseases, has appointed Sanjay Shukla as Chief Medical Officer. Shukla will lead aTyr’s clinical efforts to advance its Physiocrine biology therapeutic intervention points and develop medicines that promote tissue homeostasis for patients with rare diseases.