GANX - Gain Therapeutics Bolsters Management Team with the Appointment of Gene Mack as Chief Financial Officer | Benzinga
BETHESDA, Md., April 08, 2024 (GLOBE NEWSWIRE) -- Gain Therapeutics, Inc. (NASDAQ:GANX) ("Gain", or the "Company"), a clinical-stage biotechnology company leading the discovery and development of the next generation of allosteric small molecule therapies, today announces the appointment of Gene Mack, MBA as its chief financial officer, effective as of April 8, 2024.
"We are thrilled to welcome Gene as our new CFO," commented Gain CEO Matthias Alder. "His experience as an operational CFO with a track record of successful financing, M&A and other strategic transactions combined with his scientific background and career as an equity research analyst ideally complement our executive management team as we expand our outreach to the investor community and progress our lead drug candidate GT-02287 in the clinic."
Gene has over 25 years of experience in the life sciences sector spanning clinical research, financing and capital markets, investing, corporate strategy and business development. Prior to joining Gain, Gene was CFO at privately held Imcyse SA between 2021 and 2023. Prior to Imcyse, Gene was CFO at OncoC4, a privately held biotechnology company that spun out of Merck & Co's (MSD) $475 million acquisition of OncoImmune in 2020 where he had also been CFO. Before that, he has held the CFO role for several development- and commercial-stage biopharmaceutical companies, raising over $350 million in IPO and other equity transactions. Prior to his operational experience, Gene covered the biotechnology and life sciences sector as a senior publishing analyst at various investment banks, including Gruntal & Co, Lazard, Mizuho, and HSBC. Gene received his BS in Biochemistry and MBA in Finance from Fordham University.
"I am excited to join Gain Therapeutics during this important stage of corporate growth and scientific progression. The company is well-positioned to deliver on upcoming clinical milestones with its lead drug candidate GT-02287 and I look forward to working with Gain's exceptionally talented and experienced team to bring this best and first-in-class treatment to Parkinson's patients," added Mr. Mack.
Inducement Grant
In connection with his appointment, the Company granted Mr. Mack an option to purchase 200,000 shares of the Company's common stock at an exercise price equal to $3.56 per share, the closing price of the Company's common stock on April 5, 2024, the last trading day preceding Mr. Mack's employment start date and date of grant. This award was approved by Gain's Board of Directors and granted under the Gain Therapeutics, Inc. 2021 Inducement Equity Incentive Plan, as an inducement material to Mr. Mack entering into employment with Gain, in accordance with Nasdaq Listing Rule 5635(c)(4).
The stock option vests over four years, with one-fourth (1/4th) of the ...