Julia Maltzman

About Julia Maltzman

Julia (Julie) Maltzman, M.D., age 57 as of April 15, 2025, is Chief Medical Officer (CMO) at Adicet Bio (ACET), effective January 13, 2025 . She joined from IconOVir Bio (CMO, 2022–2025) and previously led cancer immunotherapy and GI oncology at Roche/Genentech after earlier roles at Gilead, GSK, and Morphotek; education includes an M.D. (University of Colorado), Internal Medicine residency (University of Chicago), and Hematology/Oncology fellowship (University of Pennsylvania) . During her tenure, Adicet reported preliminary 2025 Phase 1 data in lupus nephritis/SLE for ADI-001 showing sustained SLEDAI-2K reductions, improved renal function, and favorable safety; Maltzman emphasized the potential for an off-the-shelf, one-time therapy with outpatient administration . Adicet is a clinical-stage company and reported a 2024 net loss of $117.1 million; traditional revenue/EBITDA growth metrics are not yet applicable .

Past Roles

External Roles

Fixed Compensation

• Base salary and target bonus percentage for Dr. Maltzman have not been disclosed in ACET’s 2025 proxy or 8-K filings as of this report .
• ACET’s executive Bonus Plan covers named and other executive officers with corporate goals and weighting; 2024 bonuses for named executives were paid at 70% of target (Maltzman was not at ACET in 2024) .

Performance Compensation

New-hire equity grant (Inducement Award)

Bonus and performance metrics framework (company-level context)

• Executive officers are eligible for the annual Cash Incentive Bonus Plan; targets are set by the Compensation Committee and tied to financial/operational objectives; 2024 payout to named executives was 70% of target based on corporate goals (Maltzman not a 2024 NEO) .

Equity Ownership & Alignment

• Beneficial ownership disclosure did not provide an individual line for Maltzman in 2025; ACET disclosed combined holdings for “other executive officers” (Donald Healey, Ph.D., CTO and Julia Maltzman, M.D., CMO).

• Insider trading policy: prohibits derivative transactions/hedging and highlights risks of margin or pledging; the Company maintains an insider trading policy to promote compliance with securities laws .
• Lock-up: Maltzman, as an executive officer, is listed among signatories to a 60-day lock-up tied to a prospectus, restricting sales, short sales, pledges, swaps and similar transfers during the lock-up period .

Employment Terms

• Start date: Appointed CMO effective January 13, 2025 .
• Inducement grant: Option to purchase 750,000 shares at $0.89 with 4-year vest schedule (above) .
• Lock-up obligations: Executives, including Julia Maltzman, were party to a 60-day lock-up in connection with an offering prospectus, limiting transfers and hedging during the lock-up period .
• Clawback: ACET adopted a compensation recovery policy effective October 2, 2023; incentive-based compensation may be recovered following a restatement (applies to current/former executive officers) .
• Severance/change-in-control terms specific to Dr. Maltzman were not disclosed in available filings as of this report .

Performance & Track Record

• Clinical progress during tenure: In October 2025, ACET announced initial ADI-001 Phase 1 data in autoimmune disease (LN/SLE) showing sustained SLEDAI-2K and PGA reductions, improved renal outcomes (including complete renal responses), and favorable safety (no ICANS; no ≥ Grade 2 CRS), supporting outpatient administration; Maltzman highlighted potential for a one-time, off-the-shelf therapy and immune reset .
• 2026 outlook: Company plans to meet FDA in Q1 2026 and anticipates initiating a potentially pivotal study in Q2 2026, subject to regulatory feedback; multi-indication program updates expected in 2026 .

Board Governance (context)

• Compensation Committee comprises independent directors; responsible for executive compensation policies, bonus goals, equity grants, and succession planning .
• Say-on-Pay: Company held a 2025 advisory vote on NEO compensation; Maltzman was not a 2024 NEO .

Investment Implications

• Alignment and retention: A large, four-year vesting option grant (750,000 options) creates meaningful retention incentives and upside alignment; the initial 25% cliff in Dec 2025 followed by monthly vesting suggests gradual unlock and limited near-term selling pressure beyond the 60-day lock-up window .
• Selling pressure signals: The 60‑day lock-up (post‑prospectus) curtails near‑term sales; ongoing monthly vesting thereafter could introduce modest, programmatic selling capacity but is paced over three years post-cliff .
• Governance risk mitigants: A formal clawback policy and prohibitions on derivative hedging reduce misalignment risk; no related‑party transactions involving executives were disclosed since Jan 1, 2023 .
• Execution risk: Key 2026 regulatory milestones (FDA meeting and potential pivotal initiation) are critical catalysts for value creation; clinical outcomes and regulatory feedback will drive realized value of equity incentives .