Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Frederick E. Pierce, II as a Director
On September 9, 2022, the Board of Directors of Inovation1 Biotech Inc. has
appointed Frederick E. Pierce, II as a member of the Board. A copy of the press
release is included as Exhibit 99.1 to this Current Report.
Mr. Pierce, age 61, is the Chief Executive Officer and Co-founder of Decoy
Therapeutics, Inc. founded in 2020. Decoy has corporate offices in Cambridge, MA
and a lab at JLABs New York City, supported by Johnson and Johnson and BARDA's
BlueKnight™ Program, grants from one of the world's most well-known public
health foundations from Seattle, WA., institutional healthcare investors,
Federal and State Government agencies. Mr. Pierce is also an Advisor to the
Canadian Consulate of Boston/Cambridge's Healthcare and Technology Accelerator
and a Board member of the Canadian Entrepreneurs of New England, where he is
Chairman of the Life Sciences Leadership Council.
From 2017 - 2020, Mr. Pierce served as a Senior Advisor for Bionest Partners
based in Paris and New York. The firm provides leading global pharmaceutical and
biotech companies strategic advice on matters including, market access,
licensing valuation and strategy, reimbursement and drug pricing, as well as
venture capital diligence support services.
Mr. Pierce is a serial biotech entrepreneur with over 20 years of increasing
senior leadership and operating experience building successful biotech
companies. This included senior management and turn-around advisory roles at
several public biotech start-ups that listed on the NASDAQ, New York Stock and
Toronto Stock Exchange. At Javelin Pharmaceuticals (NYSE:JAV) he was VP of
Investor Relations, while the Company raised $183M, went public, got a
non-opioid pain drug Dyloject™ approved globally and was bought out by Hospira,
now Pfizer. After Javelin, he was recruited by SemBioSys Genetics (TSE: SBS) as
President of US and International Operations, to assist in a turnaround of the
Company's biotech business. He further served as a strategic advisor to Canada
based Cangene (TSX:CNJ), sold to Emergent BioSolutions for $222M. He also was an
Advisor to Spring Bank Pharmaceuticals management and BOD during and after its
IPO on NASDAQ.
Mr. Pierce was a VP of Business Development and Investor Relations and became
CEO Glycogenesys (NASDAQ: GLGS sold to Lajolla Pharmaceuticals), A VP of Finance
and Investors relations for (NASDAQ: SAFS) SafeScience, predecessor Company of
GlycoGenesys. During Mr. Pierce's time at SafeScience, the Company up-listed to
NASDAQ at a $25M valuation, raised $85M in equity capital and achieved a peak
market capitalization of over $550M. He led the successful effort to partner its
lead drug GCS-100 to Elan Pharmaceuticals in a strategic joint venture that
included $35M in upfronts, milestones and royalty payments.
Mr. Pierce has a proven track record in attracting capital, forging
transformative strategic global alliances and working with investors to create
successful outcomes of public and private healthcare companies.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release dated September 15, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
Document)
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