Full Press Release Details
CAMBRIDGE, Mass., July 01, 2025 (GLOBE NEWSWIRE) -- Vor Bio (Nasdaq: VOR), a clinical-stage biotechnology company transforming the treatment of autoimmune diseases, today announced that, effective as of June 26, 2025, the Board of Directors granted Jean-Paul Kress, the Company’s Chief Executive Officer, an option to purchase 83,296,638 shares of Vor Bio’s common stock in connection with the commencement of his employment. The foregoing stock option was granted as a material inducement to employment with Vor Bio in accordance with Nasdaq Listing Rule 5635(c)(4) and was granted under the Vor Biopharma Inc. 2023 Inducement Plan (the “Inducement Plan”).
The stock option has a ten-year term and an exercise price of $0.89 per share, which is equal to the closing price of Vor Bio’s common stock on June 26, 2025. The option will vest over a four-year period, with 25% of the shares vesting after 12 months and the remaining shares vesting monthly over the following 36 months, subject to Dr. Kress’s continued employment with Vor Bio on such vesting dates. The option is subject to the terms and conditions of the Inducement Plan and the terms and conditions of an award agreement covering the grant.
Vor Bio is a clinical-stage biotechnology company transforming the treatment of autoimmune diseases. The company is focused on rapidly advancing telitacicept, a novel dual-target fusion protein, through Phase 3 clinical development and commercialization to address serious autoantibody-driven conditions worldwide. For more information visit www.vorbio.com