Imunon appoints Sebastien Hazard as CMO

IMUNON announces the appointment of Sebastien Hazard, M.D. as Chief Medical Officer, effective December 11, 2023. Dr. Hazard brings to IMUNON a strong background in building and leading clinical development organizations, most recently at Bicycle Therapeutics. He will report to IMUNON’s President and CEO Corinne Le Goff. The Company also announced today that on December 7, 2023, in connection with Dr. Hazard’s appointment as CMO, the Compensation Committee of the Board of Directors of the Company approved an inducement option to purchase 80,000 shares of common stock and a restricted inducement stock grant of 20,000 shares of common stock to Dr. Hazard. The Inducement Option has an exercise price of $0.88 per share, which is equal to the closing price of the Company’s common stock on the Nasdaq Capital Market on December 7, 2023, will vest over four years, subject to Dr. Hazard’s continued service with the Company on each applicable vesting date, with 25% of the underlying shares vesting on the one-year anniversary of the vesting commencement date, and 75% of the underlying shares vesting in equal installments over the next twelve calendar quarters. The Restricted Inducement Grant will vest on the one-year anniversary of Dr. Hazard’s first day of employment, subject to Dr. Hazard’s continued service with the Company on such date. Each of the Inducement Option and the Restricted Inducement Grant is an inducement material to Dr. Hazard entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).