OvaScience Reports Inducement Option Grant under NASDAQ Rule 5635(c)(4)
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- OvaScienceSM, (NAS: OVAS) , a life sciences company focused on the discovery, development and commercialization of new treatments for infertility, today announced, as required under NASDAQ Listing Rule 5635(c)(4), that the Company has approved an option grant as inducement for the hire of Arthur Tzianabos, Ph.D., as Chief Scientific Officer. This option grant, as well as an open market purchase of OvaScience stock by Dr. Tzianabos on September 12, 2013, was reported on Form 4s filed with the Securities and Exchange Commission.
Dr. Tzianabos brings to OvaScience experience in the field of female infertility, cell biology and fibrosis, including scientific publications on the cellular regulation of adhesion formation, a major cause of infertility. He joined OvaScience from Shire Human Genetic Therapies, where he was Senior Vice President and Head, Research and Early Development. Previously, Dr. Tzianabos was Associate Professor of Medicine at Harvard Medical School and maintained labs at Brigham and Women's Hospital and Harvard Medical School.
The option grant is for the purchase of an aggregate of 312,000 shares of Common Stock at a price per share of $14.27, has a term of ten years and is subject to a vesting schedule of 4 years, with 25% of the shares vesting on September 3, 2014 and 6.25% of the shares vesting each quarter thereafter, subject to his continued employment with the Company.
OvaScience (NAS: OVAS) is a life sciences company focused on the discovery, development and commercialization of new treatments for infertility. The Company's patented technology is based on the discovery of egg precursor cells (EggPCSM), which are found in the ovaries. By applying proprietary technology to identify and purify EggPCs, OvaScience is developing potential next generation in vitro fertilization (IVF) technologies. The Company currently has two product candidates in development: OvaTureSM, which seeks to create mature fertilizable eggs from a woman's own EggPCs without the need for hormone injections, and AUGMENTSM, which aims to improve egg quality and increase the success of IVF. OvaScience's team of scientists, physicians and advisers includes recognized leaders in the field of reproductive medicine. For more information, please visit www.ovascience.com and connect with us on Twitter and Facebook.
This press release includes forward-looking statements about the prospects for the Company's technology in addressing female infertility, the Company's strategy, future plans and prospects, including statements regarding the development and planned launch of the Company's product candidates, including AUGMENT. Any statements in this release about our strategy, plans, prospects and future expectations, financial position and operations, and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "target," "aim," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including risks related to: our expectations regarding the regulatory approvals required for AUGMENT; the science underlying our two product candidates (AUGMENT and OvaTure), which is unproven; our ability to obtain, maintain and protect intellectual property utilized by our products; our ability to obtain additional funding to support our activities; our dependence on third parties; the successful development of, and ability to obtain regulatory approval for, our product candidates; our ability to commercialize our product candidates, including AUGMENT, on the timeline we expect, if at all; competition from others; and our short operating history; as well as those risks more fully discussed in the "Risk Factors" section of our most recently filed Quarterly Report on Form 10-Q or Annual Report on Form 10-K. The forward-looking statements contained in this press release reflect our current views with respect to future events.We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our view as of any date subsequent to the date hereof.
Theresa McNeely, 617-299-7356
EVP, Strategic Corporate Communications
KEYWORDS: United States North America Massachusetts
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