| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) On February 11, 2021, upon recommendation of the Nominating and Corporate Governance Committee of the Board of Directors (the “Board”) of Fusion Pharmaceuticals, Inc. (the “Company”) elected Philina Lee, Ph.D. to serve as a member of the Board until her successor is duly elected and qualified or until her earlier resignation or removal. The number of seats on the Company’s Board was increased to eight from seven immediately prior to Dr. Lee’s election.
Dr. Lee brings 15 years’ experience in the biopharmaceutical industry to the Board. She currently serves as Senior Vice President and Head of Portfolio Strategy at Blueprint Medicines, a publicly traded, global precision therapy company focused on cancer and hematological disorders. Since joining Blueprint in 2014, Dr. Lee has served in positions of increasing responsibility, including leading new product strategy, establishing the commercial organization, and leading multiple new product launches. In her current role, she is responsible for providing strategic and operational leadership across the portfolio, leading the portfolio management team as well as the program leadership and program management functions.
Prior to joining Blueprint Medicines, Dr. Lee served as Head of U.S. Marketing at Algeta ASA, where she contributed to building the fully integrated organization that successfully launched Xofigo® (radium-223 dichloride), a first in class alpha-emitting radiopharmaceutical. Algeta was acquired by Bayer AG in 2014. Dr. Lee does not currently serve on any other public company board of directors. Dr. Lee holds a Ph.D. from the Massachusetts Institute of Technology and a B.S. from the University of Alberta.
Dr. Lee will be entitled to receive compensation for her board service as a non-employee director in accordance with the Company’s director compensation policies, and receive an initial option award to purchase 30,000 common shares. As a non-employee director, Dr. Lee is also entitled to an annual retainer of $35,000.
The Company also entered into an indemnification agreement with Dr. Lee in connection with her appointment to the Board, which is in substantially the same form as that entered into with the other directors of the Company. There are no other arrangements or understandings between Dr. Lee and any other persons pursuant to which she was selected as a director, and Dr. Lee has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
On February 11, 2021, the Company issued a press release announcing the election of Dr. Lee to the Board. The full text of the press release issued in connection with this announcement is attached as Exhibit 99.1 and incorporated by reference herein.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
