Aeglea BioTherapeutics Announces Grant of Inducement Awards
AUSTIN, Texas and WALTHAM, Mass., June 23, 2023 /PRNewswire/ -- Aeglea BioTherapeutics, Inc. ("Aeglea") (NASDAQ: AGLE) today announced that, in connection with the acquisition of Spyre Therapeutics, Inc. ("Spyre"), a majority of the independent members of Aeglea's Board of Directors approved the grant of stock options to new employees (including the new members of management) as equity inducement awards under the Aeglea BioTherapeutics, Inc. 2018 Equity Inducement Plan. The stock options were approved on June 21, 2023 and were material to each employee's acceptance of employment with Aeglea, in accordance with Nasdaq Listing Rule 5635(c)(4). Cameron Turtle, the Chief Operating Officer of Aeglea, received 47,297,197 stock options and the other four employees received a total of 16,120,218 stock options. The stock options have an exercise price equal to $0.30, vest in equal installments over a 48-month period subject to continuous service following the vesting commencement date and expire on the tenth anniversary of the date of grant.
About Aeglea BioTheraeutics & Spyre Therapeutics
In June 2023, Aeglea completed the acquisition of Spyre Therapeutics and shifted its disease focus to inflammatory bowel disease (IBD). Spyre Therapeutics is a biotechnology company advancing a robust pipeline of antibody therapeutics with the potential to transform the treatment of inflammatory bowel disease (IBD). Spyre combines best-in-class antibody engineering, rational therapeutic combinations, and precision immunology approaches to maximize efficacy, safety, and convenience of treatments for IBD. Spun out of Paragon Therapeutics in 2023, Spyre was founded by Fairmount and is based in Waltham, MA.
For more information, please visit http://aeglea.com or www.spyretx.com.
Follow Aeglea BioTherapeutics on social media: @Aegleabio and LinkedIn.
Follow Spyre Therapeutics on social media: @spyretx and LinkedIn.
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SOURCE Aeglea BioTherapeutics, Inc.
