Rita Jain
About Rita Jain
Independent director appointed to Avalo Therapeutics’ Board on June 17, 2025; rheumatologist with 20+ years of clinical development and regulatory leadership across immunology and inflammation. Previously EVP/CMO at ChemoCentryx (supported commercialization of Tavneos and sale to Amgen in 2022) and CMO at Akebia; held senior roles at AbbVie, Pfizer, and Immunovant; current public company directorships include Celldex Therapeutics and AnaptysBio. M.D. from SUNY Stony Brook; internal medicine residency at Staten Island University Hospital; rheumatology fellowship at North Shore University Hospital; clinical research fellowship at UT Southwestern .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ChemoCentryx | EVP & Chief Medical Officer | Not disclosed (pre-2022) | Advanced Tavneos; supported sale to Amgen in 2022 |
| Akebia Therapeutics | SVP & Chief Medical Officer | Not disclosed | Led development programs in nephrology |
| AbbVie | Senior leadership (clinical development) | Not disclosed | Oversaw global development programs |
| Pfizer | Senior leadership | Not disclosed | Led clinical operations/programs |
| Immunovant | Senior leadership | Not disclosed | Regulatory interactions/program execution |
External Roles
| Organization | Role | Status |
|---|---|---|
| Celldex Therapeutics | Director | Current |
| AnaptysBio | Director | Current |
Board Governance
- Independence: Board determined Jain meets Nasdaq Rule 5605(a)(2) and SEC Rule 10A‑3 independence requirements; no related-party transactions; standard indemnification agreement executed .
- Committee assignments: Not disclosed in appointment 8‑K; subsequent board changes added Kevin Lind to Audit and noted a resignation, but no committee designation for Jain .
- Board leadership and executive sessions: Chairman separated from CEO (Chair: Michael Heffernan as of March 2025); independent directors meet in executive session at least twice per year .
- Attendance baseline: Board met 12 times in 2024; all directors met 75% attendance threshold (pre‑Jain appointment) .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board retainer (non-employee director) | $40,000 | Paid quarterly; pro-rated on partial quarters |
| Chair of Board (incremental) | $40,000 | In addition to $40,000 director retainer (total $80,000 for Chair) |
| Audit Committee member | $10,000 | Annual retainer |
| Compensation Committee member | $6,500 | Annual retainer |
| Nominating & Corporate Governance member | $5,000 | Annual retainer |
| Science & Technology Advisory Committee member | $7,500 | Annual retainer |
| Committee Chair increments (Audit/Comp/Nom/SATAC) | $10,000 / $6,500 / $5,000 / $7,500 | Incremental to member fees |
| Election to receive options in lieu of cash | Optional | Immediate-vesting options equal to forgone cash “fair value”; 10-year term; strike = market close on grant date |
Performance Compensation
| Equity Award | Shares | Vesting | Strike/Term | Status |
|---|---|---|---|---|
| Initial option grant (on appointment) | 40,200 | 3 equal annual installments on 1st, 2nd, 3rd anniversary | Exercise price = Nasdaq closing price on 6/17/2025; 10-year term | Granted 6/17/2025 |
| Annual option grant (each annual meeting) | 20,100 | Vests 100% on first anniversary of grant | Exercise price = market close; 10-year term | Policy effective 6/17/2025 |
No performance-based equity metrics (e.g., TSR/EBITDA targets) are disclosed for director awards; vesting is time-based per policy .
Other Directorships & Interlocks
- Current public boards: Celldex Therapeutics; AnaptysBio .
- Interlocks/conflicts: Company disclosed no related-party transactions with Jain and affirmed independence; no board-to-board interlocks raising supplier/customer conflicts are disclosed .
Expertise & Qualifications
- Clinical specialty in rheumatology with broad immunology/inflammation experience; track record advancing assets to approval and commercialization; senior roles across large-cap and development-stage biopharma .
- Education and training: M.D.; internal medicine residency; rheumatology fellowship; clinical research fellowship (UT Southwestern) .
Equity Ownership
| Category | Amount | Notes |
|---|---|---|
| Stock options granted (initial) | 40,200 | 3-year annual tranches; grant date 6/17/2025 |
| Annual option grant eligibility | 20,100 per year | Vests in 1 year; policy effective 6/17/2025 |
| Common shares/beneficial ownership | Not disclosed | No updated beneficial ownership table including Jain was filed with appointment . |
Governance Assessment
- Strengths: Independent status affirmed; clean related-party profile; compensation mix skewed to equity with multi-year vesting—supports alignment with long-term shareholder interests .
- Oversight credibility: Deep clinical/regulatory background in immunology and rare diseases; prior CMO roles and commercialization experience enhance board effectiveness as AVTX-009 advances Phase 2 .
- Transparency signals: A&R Non‑Employee Director Compensation Plan codifies fees and equity terms; option-in-lieu-of-cash election adds alignment flexibility .
- Watch items: Committee assignments for Jain not disclosed; monitor future filings for committee roles and 2025–2026 attendance disclosure .