Adicet Bio Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
REDWOOD CITY, Calif. & BOSTON–(BUSINESS WIRE)–
Adicet Bio, Inc. (Nasdaq: ACET), a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer, today announced it granted inducement awards on January 31, 2025.
Two individuals were hired by Adicet in January 2025. In the aggregate, Adicet granted new hires non-qualified stock options to purchase 28,600 shares of Adicet’s common stock with an exercise price of $0.89 per share, the closing price of Adicet’s common stock as reported by Nasdaq on January 31, 2025. One-fourth of the shares underlying each employee’s option will vest on the one-year anniversary of each recipient’s start date and thereafter the remaining three-fourths of the shares underlying each employee’s option will vest in thirty-six substantially equal monthly installments, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of the recipient’s start date, in each case, subject to each such employee’s continued employment with Adicet on such vesting dates.
In addition, effective as of January 31, 2025, the board of directors approved an inducement award of non-statutory stock options to Julie Maltzman, M.D., Adicet’s newly appointed Chief Medical Officer, to purchase 750,000 shares of Adicet’s common stock with an exercise price of $0.89 per share, the closing price of Adicet’s common stock as reported by Nasdaq on January 31, 2025. One-fourth of the shares underlying Dr. Maltzman’s option will vest on the one-year anniversary of December 7, 2024 and thereafter the remaining three-fourths of the shares underlying the option will vest in thirty-six substantially equal monthly installments, such that the shares underlying the option granted to Dr. Maltzman will be fully vested on the fourth anniversary of December 7, 2024, subject to Dr. Maltzman’s continued employment with Adicet on each such vesting date. The options are subject to the terms and conditions of the award agreement covering the grant.
All of the above-described awards were granted outside of Adicet’s stockholder-approved equity incentive plans pursuant to Adicet’s 2022 Inducement Plan (the Inducement Plan), which was adopted by the board of directors in January 2022 and subsequently amended in January 2023. The awards were authorized by a majority of Adicet’s independent directors or the compensation committee of the board of directors, which is comprised solely of independent directors, as a material inducement to the employees entering into employment with Adicet in accordance with Nasdaq Listing Rule 5635(c)(4).
About Adicet Bio, Inc.
Adicet Bio, Inc. is a clinical stage biotechnology company discovering and developing allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. Adicet is advancing a pipeline of “off-the-shelf” gamma delta T cells, engineered with chimeric antigen receptors (CARs), to facilitate durable activity in patients. For more information, please visit our website at https://www.adicetbio.com.
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Adicet Bio, Inc.
Investor and Media Contacts
Investors:
Anne Bowdidge
[email protected]
Janhavi Mohite
Precision AQ
212-362-1200
[email protected]
Media:
Kerry Beth Daly
[email protected]
KEYWORDS: California Massachusetts United States North America
INDUSTRY KEYWORDS: Science Stem Cells Other Science Biotechnology Research Oncology General Health Health
MEDIA:
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