On September 17, 2015 Ignyta, Inc. (Nasdaq: RXDX), a precision oncology biotechnology company, reported that Igor Bilinsky, Ph.D., has been appointed to the newly-created role of General Manager, Immuno-Oncology and Senior Vice President, Special Operations (Filing, 8-K, Ignyta, SEP 17, 2015, View Source [SID:1234507493]).
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"As our team has continued to integrate the development programs we acquired from Teva in March of this year, we have become increasingly excited about the potential role of RXDX-106 in immuno-oncology, given its profile as a potent inhibitor of Tyro-3, Axl and MER, or TAM," said Jonathan Lim, M.D., Chairman and CEO of Ignyta. "As a result, we have decided to establish a division within Ignyta focused on pursuing immuno-oncology programs that will complement our pipeline as we seek to develop novel single agent and combination therapies for the benefit of cancer patients. Igor’s broad experience in strategic, operational, and entrepreneurial management in biopharmaceutical companies, including immunology experience relevant to this new role, will be valuable to us as we expand our capabilities in this important field."
Prior to joining Ignyta, Dr. Bilinsky was Senior Vice President, Corporate Development at Vical Incorporated, a position he held since 2010. Dr. Bilinsky was previously Vice President, Business Development and Special Operations at Halozyme Therapeutics from 2008 to 2010, after joining Halozyme in 2007 as Executive Director, Corporate Development and Special Operations. From 2005 to 2007, Dr. Bilinsky was Chief Executive Officer of Androclus Therapeutics, a privately held biotechnology company developing novel therapeutics for autoimmune and inflammatory diseases. He joined Androclus in 2004 as Chief Operating Officer. From 1999 to 2004, Dr. Bilinsky served in positions of increasing responsibility as a management consultant, project leader and ultimately as principal in the healthcare practice of the Boston Consulting Group, where he advised companies in the biotechnology, pharmaceutical and life science industries on business strategy, operational performance and mergers and acquisitions. Prior to joining the Boston Consulting Group, Dr. Bilinsky worked in research positions at Symyx Technologies and the Massachusetts Institute of Technology (MIT) Lincoln Laboratory. Dr. Bilinsky received his B.S. degree in physics from the Moscow Institute of Physics and Technology and his Ph.D. degree in physics from MIT.
On September 17, 2015, Dr. Bilinsky will receive an inducement stock option award under Ignyta’s 2015 Employment Inducement Equity Incentive Award Plan, which was adopted July 17, 2015 and provides for the granting of equity awards to new employees of Ignyta. The inducement award to Dr. Bilinsky consists of an option to purchase an aggregate of 200,000 shares of Ignyta common stock. In addition, on September 15, 2015, Ignyta issued inducement awards to four other, non-executive employees under the 2015 Employment Inducement Equity Incentive Award Plan, consisting of options to purchase an aggregate of 130,500 shares of Ignyta common stock. Each of the options has a ten-year term and an exercise price equal to the closing price per share of Ignyta’s common stock on the Nasdaq Capital Market on the date of grant. The options vest over a four-year period, with 25% of the options vesting on the first anniversary of the date of hire and the remainder vesting in equal monthly installments over the three years thereafter. The awards were approved by the compensation committee of Ignyta’s board of directors and were granted as an inducement material to the optionees entering into employment with Ignyta in accordance with Nasdaq Marketplace Rule 5635(c)(4).