Aeglea BioTherapeutics Grants Inducement Awards to Non-Executive Employees

Aeglea BioTherapeutics, a leading biotechnology company focused on advancing antibody therapeutics for inflammatory bowel disease (IBD), has announced the approval of stock options as equity inducement awards for two non-executive employees. The grants, totaling 2,900,000 shares of common stock, were approved by Aeglea’s independent Compensation Committee of the Board of Directors under the 2018 Equity Inducement Plan.

The stock options, granted on October 2, 2023, are a significant component of the employees’ compensation packages and were instrumental in their decision to join Aeglea. Each option has a 10-year term and an exercise price of $11.70, reflecting the closing price per share of Aeglea’s common stock on the same day.

Vesting of the stock options will occur over time, with one-fourth of the shares becoming exercisable on the first anniversary of each employee’s start date. Subsequently, one-forty-eighth of the shares will vest and become exercisable monthly, subject to continuous service with Aeglea.

Aeglea BioTherapeutics, following its asset acquisition of Spyre Therapeutics, Inc. in June 2023, has redirected its focus towards developing innovative antibody therapeutics for IBD. By leveraging novel antibody engineering, rational therapeutic combinations, and precision immunology approaches, Aeglea aims to revolutionize the treatment landscape for IBD. The company’s portfolio includes promising antibodies targeting α4β7, TL1A, and IL-23.

With these inducement awards, Aeglea BioTherapeutics demonstrates its commitment to attracting top talent and fostering a culture of innovation. The company’s dedication to advancing therapies for IBD holds great promise for patients and the medical community alike.

For more information about Aeglea BioTherapeutics and its groundbreaking research, please visit their official website.