UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 27, 2019
CHEMOCENTRYX, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-35420 | 94-3254365 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
850 Maude Avenue, Mountain View, CA | 94043 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: (650) 210-2900
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of March 27, 2019, upon the recommendation of the Nominating and Corporate Governance Committee, and pursuant to the bylaws of ChemoCentryx, Inc. (the Company), the Board of Directors (the Board) of the Company appointed Rita I. Jain, Ph.D., age 56, to fill a vacancy on the Board. Dr. Jain was appointed as a Class III director, with an initial term expiring at the 2020 annual meeting of stockholders of the Company.
Since May 2017, Dr. Jain has served as Senior Vice President and Chief Medical Officer of Akebia Therapeutics, Inc., a biotechnology company. Prior to joining Akebia, Dr. Jain was Vice President of Mens and Womens Health and Metabolic Development at AbbVie, Inc. From 2003 to 2016 she held positions of increasing responsibility, with over 10 years as either a Divisional Vice President or Vice President in Pharmaceutical Development at Abbott Laboratories, and after AbbVies split from Abbott, at AbbVie. In addition to her work in Mens and Womens Health, and Metabolic Development, Dr. Jain also led activities in Pain, Respiratory, and Cystic Fibrosis Development. Before AbbVie, she held management positions in the Arthritis, Inflammation and Pain Group at Searle (acquired by Pharmacia and subsequently Pfizer). Prior to joining Searle, Dr. Jain was a faculty member at North Shore University Hospital in New York, with an academic appointment as Assistant Professor of Medicine, New York University School of Medicine. Dr. Jain received her B.S. in biology from LIU/CW Post and her M.D. from the State University of New York at Stony Brook School of Medicine. Dr. Jain completed her medical training in internal medicine at Staten Island University Hospital followed by a Fellowship in Rheumatology at North Shore University Hospital and a Clinical Research Fellowship at the University of Texas Southwestern Medical Center, Dallas.
Dr. Jain will participate in the Companys non-employee director compensation program and will receive an annual retainer of $50,000 for her service on the Board. Dr. Jain was also granted a restricted stock unit award of 15,753 shares of common stock of the Company which will vest in three equal installments over the three-year period following the date of grant, subject to Dr. Jains continuing service on our Board of Directors on those dates. In addition, on the date of each annual meeting of stockholders of the Company, Dr. Jain will be eligible to receive a restricted stock unit award having a fair market value of $100,000 and an option to purchase shares of the Companys common stock having a fair market value of $100,000, vesting in full and/or become exercisable on the one-year anniversary of the date of grant, subject to Dr. Jain continuing in service on the Board through such vesting date. The non-employee director compensation program is described in further detail in the Companys Definitive Proxy Statement for its 2018 annual meeting of stockholders filed with the Securities and Exchange Commission on April 6, 2018. Dr. Jain will enter into the Companys standard indemnification agreement for directors, the form of which was filed as Exhibit 10.18 to the Companys Registration Statement on Form S-1, initially filed with the SEC on October 14, 2011.
There are no arrangements or understandings between Dr. Jain and any other persons pursuant to which she was selected as a director, and there are no related person transactions (within the meaning of Item 404(a) of Regulation S-K) between Dr. Jain and the Company. The Board has determined that Dr. Jain meets the applicable independence requirements of The NASDAQ Stock Market LLC.
Item 7.01 Regulation FD Disclosure.
On March 28, 2019, the Company issued a press release announcing Dr. Jains appointment. A copy of the press release is being furnished as Exhibit 99.1 to this report.
The information contained in this Item 7.01, including the exhibit referenced herein, is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished herewith:
Exhibit
|
Description |
|
99.1 | Press release issued by ChemoCentryx, Inc., dated March 28, 2019. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CHEMOCENTRYX, INC. | ||||||
Date: March 28, 2019 | ||||||
By: | /s/ Susan M. Kanaya | |||||
Name: | Susan M. Kanaya | |||||
Title: | Executive Vice President, Chief Financial and Administrative Officer and Secretary |
Exhibit 99.1
ChemoCentryx Appoints Rita Jain, M.D. to Board of Directors
MOUNTAIN VIEW, Calif., March 28, 2019 ChemoCentryx, Inc., (Nasdaq:CCXI), announced today that, effective March 27, 2019, Rita Jain, M.D., Senior Vice President and Chief Medical Officer of Akebia Therapeutics, has been appointed to the Companys Board of Directors. Dr. Jain brings more than 20 years of drug development experience spanning academia and industry, with expertise across a range of therapeutic areas.
Dr. Jain brings a wealth of experience in biotechnology and pharmaceutical development. She joins us at a pivotal point in our forward integration as we approach successive late-stage data readouts and plan for commercialization, said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. Dr. Jains experience leading multiple global programs across various stages of development will be an asset. Her leadership in the successful completion of AbbVies Phase II uterine fibroid program and the largest endometriosis Phase III program to date, which led to FDA approval for ORILISSA (elagolix), is a testament to the value she brings to ChemoCentryx.
Much of my career has been dedicated to developing therapies to address unmet medical needs, so I look forward to supporting ChemoCentryx in its pursuit of differentiated small molecules aimed at not only halting disease, but also doing so without the toxic side-effects associated with current standard of care treatments, said Dr. Jain. ChemoCentryx has strong science, a broad pipeline and has made significant progress toward achieving its objectives. Im excited to join the Board at such a transformational time and to contribute to the companys continued growth.
Dr. Jain currently serves as the Senior Vice President and Chief Medical Officer of Akebia Therapeutics, Inc., a biopharmaceutical company focused on the development and commercialization of therapeutics for patients with kidney disease. Prior to joining Akebia in May 2017, Dr. Jain was Vice President of Mens and Womens Health and Metabolic Development at AbbVie, Inc. Before that, Dr. Jain held various positions including Divisional Vice President and Vice President in Pharmaceutical Development at Abbott Laboratories, and after AbbVies split from Abbott, at AbbVie. In addition to her work in mens and womens Health, and metabolic Development, Dr. Jain also led activities in pain, respiratory, and cystic fibrosis development. Before AbbVie, she held management positions in the Arthritis, Inflammation and Pain Group at Searle (acquired by Pharmacia and subsequently Pfizer). Prior to joining Searle, Dr. Jain was a faculty member at North Shore University Hospital in New York, with an academic appointment as Assistant Professor of Medicine, New York University School of Medicine.
Dr. Jain received her B.S. in biology from LIU/C.W. Post and her M.D. from the State University of New York at Stony Brook School of Medicine. Dr. Jain completed her medical training in internal medicine at Staten Island University Hospital followed by a Fellowship in Rheumatology at North Shore University Hospital and a Clinical Research Fellowship at the University of Texas Southwestern Medical Center, Dallas.
About ChemoCentryx
ChemoCentryx is a biopharmaceutical company developing new medications targeted at inflammatory and autoimmune diseases and cancer. ChemoCentryx targets the chemokine and chemoattractant systems to discover, develop and commercialize orally-administered therapies. ChemoCentryx is currently focusing on its late stage drug candidates for patients with rare diseases, avacopan (CCX168) and CCX140.
Avacopan is an orally-administered small molecule that is a selective inhibitor of the complement C5a receptor, or C5aR. Avacopan is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-
associated vasculitis (ANCA-associated Vasculitis). In clinical studies to date, avacopan was shown to be safe, well tolerated and provided effective control of the disease while allowing elimination of high-dose steroids, part of the current standard of care. ChemoCentryx is also developing avacopan for the treatment of patients with C3 glomerulopathy (C3G) and hidradenitis suppurativa (HS). The U.S. Food and Drug Administration has granted avacopan orphan-drug designation for ANCA-associated Vasculitis, C3G and atypical hemolytic uremic syndrome (aHUS). The European Commission has granted orphan medicinal product designation for avacopan for the treatment of two forms of ANCA-associated Vasculitis: microscopic polyangiitis and granulomatosis with polyangiitis (formerly known as Wegeners granulomatosis), as well as for C3G. Avacopan was also granted access to the European Medicines Agencys (EMA) PRIority MEdicines (PRIME) initiative, which supports accelerated assessment of investigational therapies addressing unmet medical need.
The Companys other late stage drug candidate is CCX140, an inhibitor of the chemokine receptor known as CCR2, which is currently being developed for patients with focal segmental glomerulosclerosis (FSGS), a debilitating kidney disease. The U.S. Food and Drug Administration has granted CCX140 orphan-drug designation for the treatment of FSGS.
ChemoCentryxs Kidney Health Alliance with Vifor Pharma provides Vifor Pharma with exclusive rights to commercialize avacopan and CCX140 in markets outside of the U.S.
ChemoCentryx also has early stage drug candidates that target chemoattractant receptors in other Inflammatory and autoimmune diseases and in cancer.
Forward-Looking Statements
ChemoCentryx cautions that statements included in this press release that are not a description of historical facts are forward-looking statements. Words such as may, could, will, would, should, expect, plan, anticipate, believe, estimate, intend, predict, seek, contemplate, potential, continue or project or the negative of these terms or other comparable terminology are intended to identify forward-looking statements. These statements include the Companys statements regarding the achievement of anticipated goals and milestones and when clinical data might become available or be released. The inclusion of forward-looking statements should not be regarded as a representation by ChemoCentryx that any of its plans will be achieved. Actual results may differ from those set forth in this release due to the risks and uncertainties inherent in the ChemoCentryx business and other risks described in the Companys filings with the Securities and Exchange Commission (SEC). Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and ChemoCentryx undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof. Further information regarding these and other risks is included under the heading Risk Factors in ChemoCentryxs periodic reports filed with the SEC, including ChemoCentryxs Annual Report on Form 10-K to be filed with the SEC on March 11, 2019 and its other reports which are available from the SECs website (www.sec.gov) and on ChemoCentryxs website (www.chemocentryx.com) under the heading Investors. All forward-looking statements are qualified in their entirety by this cautionary statement. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Contacts:
Susan M. Kanaya
Executive Vice President,
Chief Financial and Administrative Officer
investor@chemocentryx.com
Media:
Stephanie Tomei
408.234.1279
media@chemocentryx.com
Investors:
William Slattery, Jr., Burns McClellan
212.213.0006
bslattery@burnsmc.com