– Announces Inducement Grant Under NASDAQ Rule 5635(c)(4) –
JERSEY CITY, N.J., Nov. 16, 2017 /PRNewswire/ — SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company delivering innovative anti-infective therapies for difficult-to-treat and often life-threatening infections, today announced the appointment of Scott Sukenick, J.D., as General Counsel, effective November 15, 2017. Mr. Sukenick will be responsible for leading the Company’s corporate strategic and tactical legal initiatives, including intellectual property and compliance. Mr. Sukenick will report to Marco Taglietti, M.D., SCYNEXIS’ President and Chief Executive Officer.
“Scott brings invaluable legal and strategic expertise to SCYNEXIS as we continue to advance our lead asset, SCY-078, through clinical development,” said Marco Taglietti, M.D., SCYNEXIS’ President and Chief Executive Officer. “We are fortunate to have someone of his caliber, with a combination of strong scientific acumen and a broad range of legal experience in the life sciences sector. I welcome Scott to our wonderful and dynamic team and look forward to our collaboration with him to make SCYNEXIS a success.”
Mr. Sukenick joins SCYNEXIS after over a decade addressing a diversity of legal challenges faced by innovative life sciences companies at all stages of development. Mr. Sukenick most recently worked at Cooley LLP, where he focused on life sciences litigation and strategic intellectual property management. Prior to that, he worked at Patterson Belknap Webb & Tyler LLP, where he primarily represented pharmaceutical and medical device companies in patent litigation. He started his career at Simpson Thacher & Bartlett LLP, where his practice focused on complex commercial litigation and intellectual property transactional matters. Mr. Sukenick is a registered patent attorney. He obtained a B.S. in Biology and a B.A. in Chemistry from Duke University and a J.D. from Harvard University.
In connection with this appointment, on November 15, 2017, Mr. Sukenick was granted an option to purchase 160,000 shares of SCYNEXIS common stock, at a per share exercise price of $1.75, the closing trading price on November 15, 2017. The option has a ten-year term, with one-fourth of the shares subject to the option vesting on the one-year anniversary of the date of grant and the remainder vesting in equal monthly installments for thirty-six months thereafter, provided Mr. Sukenick continues to provide service to SCYNEXIS. The stock option was granted pursuant to SCYNEXIS’ 2015 Inducement Award Plan, which was adopted by the company’s board of directors in March 2015 under Rule 5635(c)(4) of the Nasdaq Global Market for equity grants to induce new employees to enter into employment with the Company.
SCYNEXIS, Inc. is a biotechnology company committed to positively impacting the lives of patients suffering from difficult-to-treat and often life-threatening infections by delivering innovative anti-infective therapies. The SCYNEXIS team has extensive experience in the life sciences industry, discovering and developing more than 30 innovative medicines over a broad range of therapeutic areas. The Company’s lead product candidate, SCY-078, is the first representative of a novel oral and IV triterpenoid antifungal family and is in Phase 2 clinical development for the treatment of several fungal infections, including serious and life-threatening invasive fungal infections. For more information, visit www.scynexis.com.
MacDougall Biomedical Communications
SOURCE SCYNEXIS, Inc.