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Gritstone bio Announces Appointment of Stephen Webster to its Board of Directors

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Gritstone bio, Inc. (Nasdaq: GRTS) appointed Stephen Webster, a finance executive with 30 years of experience, to its Board of Directors. Webster's expertise in raising capital and business development will be important as the company prepares for Phase 2 GRANITE data and potential growth. Steve Krognes will not stand for re-election at the 2024 Annual Meeting.

Gritstone bio, Inc. (Nasdaq: GRTS) ha nominato Stephen Webster, un dirigente finanziario con 30 anni di esperienza, nel suo Consiglio di Amministrazione. L'esperienza di Webster nella raccolta di capitali e nello sviluppo aziendale sarà importante mentre la compagnia si prepara per i dati della Fase 2 di GRANITE e una potenziale crescita. Steve Krognes non si candiderà per la rielezione nell'Assemblea Annuale del 2024.
Gritstone bio, Inc. (Nasdaq: GRTS) ha designado a Stephen Webster, un ejecutivo financiero con 30 años de experiencia, para su Junta Directiva. La experiencia de Webster en captación de capital y desarrollo empresarial será importante mientras la empresa se prepara para los datos de Fase 2 de GRANITE y un crecimiento potencial. Steve Krognes no se presentará para la reelección en la Reunión Anual de 2024.
Gritstone bio, Inc. (나스닥: GRTS)는 30년 경력의 재무 전문가인 스티븐 웹스터를 이사회에 임명하였습니다. 웹스터의 자본 조달 및 비즈니스 개발 경험은 회사가 GRANITE 2단계 데이터 준비와 잠재적 성장을 위해 중요할 것입니다. 스티브 크로그네스는 2024년 연례 회의에서 재선에 출마하지 않을 예정입니다.
Gritstone bio, Inc. (Nasdaq : GRTS) a nommé Stephen Webster, un cadre financier avec 30 ans d'expérience, à son Conseil d'Administration. L'expertise de Webster dans la levée de capitaux et le développement des affaires sera importante alors que la société se prépare pour les données de la Phase 2 de GRANITE et une croissance potentielle. Steve Krognes ne se présentera pas à sa réélection lors de l'Assemblée Annuelle de 2024.
Gritstone bio, Inc. (Nasdaq: GRTS) hat Stephen Webster, einen Finanzvorstand mit 30 Jahren Erfahrung, in seinen Vorstand berufen. Websters Expertise in der Kapitalbeschaffung und Unternehmensentwicklung wird wichtig sein, da sich das Unternehmen auf Phase 2 der GRANITE-Daten und mögliches Wachstum vorbereitet. Steve Krognes wird sich bei der Jahreshauptversammlung 2024 nicht zur Wiederwahl stellen.
Positive
  • Appointment of Stephen Webster, a veteran finance executive, brings valuable expertise to the Board of Directors.

Negative
  • Steve Krognes not standing for re-election could lead to a potential loss of continuity and experience on the board.

EMERYVILLE, Calif., April 29, 2024 (GLOBE NEWSWIRE) -- Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company working to develop the world’s most potent vaccines, today announced the appointment of Stephen Webster to its Board of Directors. A veteran finance executive in the biotechnology industry, Mr. Webster has served as an executive for several renowned companies and held key roles in raising capital, business development transactions and operations for over 30 years. The company also announced that Steve Krognes will not stand for re-election at the 2024 Annual Meeting.

“We are excited to welcome Stephen Webster to our Board of Directors at this important and exciting time for Gritstone. His distinguished track record and business development expertise will be invaluable as we prepare for mature Phase 2 GRANITE data and a period of potential significant growth,” said Andrew Allen, M.D., Ph.D., Co-founder, President, and Chief Executive Officer of Gritstone. “Stephen’s highly informed, educated and engaged approach will be a great asset as we continue to execute on our strategic initiatives and drive long-term value for our shareholders.”

“Mr. Webster’s extensive experience guiding companies through dynamic competitive environments and strategic transactions makes him a highly sought-after expert in the industry, and we are happy to have him on our Board,” said Dr. Elaine V. Jones, Chair of Gritstone bio’s Board of Directors.

Mr. Webster served as the Chief Financial Officer of Spark Therapeutics, a publicly traded gene therapy biotechnology company, from July 2014 until its acquisition by Roche for $4.3 billion in December 2019. He was previously Senior Vice President (SVP) and Chief Financial Officer of Optimer Pharmaceuticals, a publicly traded biotechnology company, from July 2012 until its acquisition by Cubist Pharmaceuticals in October 2013. Prior to joining Optimer, Mr. Webster served as SVP and Chief Financial Officer of Adolor Corporation, a biopharmaceutical company, from 2008 until its acquisition by Cubist Pharmaceuticals in 2011. He also served in leadership positions in the investment banking healthcare groups of Broadpoint Capital and PaineWebber Incorporated.

In addition to Gritstone, Mr. Webster currently serves on the Board of Directors of Cullinan Therapeutics and NextCure, Inc. He previously served on the Board of Directors of TCR2 Therapeutics until its merger with Adaptimmune. Mr. Webster received an A.B. in Economics from Dartmouth College and an M.B.A. in Finance from The Wharton School of the University of Pennsylvania.

“I am thrilled to join the Board of Directors of Gritstone bio, a highly innovative vaccine developer whose novel platforms could be game changers in oncology and infectious disease,” said Mr. Webster. “I look forward to collaborating with the talented team of directors and management as we seek to capitalize on the potential growth opportunities and drive significant value for shareholders."

“On behalf of Gritstone bio and the Board of Directors, I would like to thank Steve Krognes for his valuable contributions to the company over the last six years,” added Dr. Allen. “His leadership has enabled Gritstone to establish itself as a leading player in the promising neoantigen-directed cancer vaccine field. We wish him the best with his future endeavors.”

About Gritstone bio
Gritstone bio, Inc. (Nasdaq: GRTS) is a clinical-stage biotechnology company that aims to develop the world’s most potent vaccines. We leverage our innovative vectors and payloads to train multiple arms of the immune system to attack critical disease targets. Independently and with our collaborators, we are advancing a portfolio of product candidates to treat and prevent viral diseases and solid tumors in pursuit of improving patient outcomes and eliminating disease. www.gritstonebio.com

Gritstone Forward-Looking Statements
This press release contains forward-looking statements, including, but not limited to, statements related to our clinical and regulatory development plans for our product candidates; our expectations regarding the data to be derived in our ongoing and planned clinical trials; the timing of commencement of our future nonclinical studies, clinical trials and research and development programs; our ability to discover, develop and advance product candidates into, and successfully complete, clinical trials; and our plans and strategy regarding maintaining existing and entering into new collaborations and/or partnerships. Such forward-looking statements involve substantial risks and uncertainties that could cause Gritstone’s research and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the drug development process, including Gritstone’s programs’ clinical stage of development, the process of designing and conducting preclinical and clinical trials, the regulatory approval processes, the timing of regulatory filings, the challenges associated with manufacturing drug products, Gritstone’s ability to successfully establish, protect and defend its intellectual property and other matters that could affect the sufficiency of existing cash to fund operations. Gritstone undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Gritstone’s most recent Annual Report on Form 10-K filed on March 5, 2024 and any subsequent current and periodic reports filed with the Securities and Exchange Commission.

Gritstone Contacts
Investors:
George E. MacDougall
Gritstone bio, Inc.
ir@gritstone.com

Media:
Dan Budwick
1AB
(973) 271-6085
dan@1abmedia.com


FAQ

<p>Who was appointed to the Board of Directors of Gritstone bio?</p>

Stephen Webster, a finance executive with 30 years of experience.

<p>What is the stock symbol for Gritstone bio?</p>

The stock symbol for Gritstone bio is Nasdaq: GRTS.

<p>Who will not stand for re-election at the 2024 Annual Meeting?</p>

Steve Krognes will not stand for re-election.

<p>What was Stephen Webster's previous role at Spark Therapeutics?</p>

Stephen Webster was the Chief Financial Officer of Spark Therapeutics until its acquisition by Roche for $4.3 billion.

<p>What is Stephen Webster's educational background?</p>

Stephen Webster received an A.B. in Economics from Dartmouth College and an M.B.A. in Finance from The Wharton School of the University of Pennsylvania.

Gritstone bio, Inc.

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