Andrew Lo
BridgeBio PharmaAbout Andrew W. Lo, Ph.D.
Andrew W. Lo (age 64 as of March 31, 2025) has served as an independent director of BridgeBio Pharma, Inc. since June 2020. He is the Charles E. and Susan T. Harris Professor at MIT Sloan, director of the MIT Laboratory for Financial Engineering, and principal investigator at MIT CSAIL; he is also external faculty at the Santa Fe Institute and a research associate of the NBER. He holds a B.A. in Economics from Yale and a Ph.D. in Economics from Harvard, bringing deep expertise in finance, healthcare finance, and AI/ML-adjacent computational research to BridgeBio’s board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MIT Sloan School of Management | Charles E. and Susan T. Harris Professor; Director, MIT Laboratory for Financial Engineering | 1988–present | Leads quantitative finance and healthcare finance research; computational methods applied to biopharma |
| MIT CSAIL | Principal Investigator | Not disclosed | AI/ML and computational research relevant to drug discovery analytics |
| Santa Fe Institute | External Faculty | Not disclosed | Complex systems expertise applicable to portfolio and risk oversight |
| National Bureau of Economic Research | Research Associate | Not disclosed | Empirical rigor in economic analysis |
External Roles
| Company | Public/Private | Role | Tenure |
|---|---|---|---|
| AbCellera Biologics Inc. (Nasdaq: ABCL) | Public | Director | Since Dec 2021 |
| Atomwise Inc. | Private | Director | Not disclosed |
| Vesalius Therapeutics | Private | Director | Not disclosed |
| Roivant Sciences, Inc. (Nasdaq: ROIV) | Public | Director (former) | Jul 2016–Nov 2022 |
Board Governance
- Independence: The Board determined all directors except Drs. Kumar, Homcy, and McCormick are independent under Nasdaq and SEC rules; Dr. Lo is independent .
- Committee assignments: Member, Nominating and Corporate Governance Committee (NCGC). NCGC members: Satvat (Chair), Dachille, Lo, Valantine . Not on Audit or Compensation .
- Attendance: The Board met nine times in 2024; all directors then serving attended at least 75% of Board and applicable committee meetings .
- Board leadership context: Dr. Homcy is Lead Director; Mr. Hassan is Lead Independent Director; CEO/Lead Director/Lead Independent roles are separated .
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 50,000 | Flat board retainer; no committee/meeting fees |
| Option awards (grant-date fair value) | 549,998 | Annual non-statutory stock option grant; 10-year term; vests in 3 equal annual installments |
| All other compensation | 50,000 | Consulting payment to QLS Advisors via BioSF Global (see Related Party) |
| Total | 649,998 | Sum of components above |
Director Compensation Policy highlights:
- Initial option grant upon election valued at $1,200,000; annual option grant valued at $550,000; vest over three years; full acceleration upon “sale event” per plan definition .
- Cash retainer: $50,000; no additional committee or meeting fees .
- Aggregate annual cap: $600,000 for subsequent years; $1,250,000 in first calendar year of election .
Payment mechanics:
- Cash payments for Dr. Lo were payable to LoTech Partners, LLC .
Performance Compensation
- No director performance-based cash metrics or PSU structures disclosed; director equity is time-based options (3-year vest) under the Amended Director Compensation Policy .
No director-specific performance metrics (e.g., revenue, EBITDA, TSR targets) are disclosed for equity or cash awards .
Other Directorships & Interlocks
| Counterparty | Relationship to BBIO | Potential Interlock/Conflict Consideration |
|---|---|---|
| AbCellera Biologics Inc. (Nasdaq: ABCL) | Dr. Lo is a director | No BBIO-disclosed transactions with AbCellera; standard network exposure . |
| Atomwise Inc.; Vesalius Therapeutics | Dr. Lo is a director | No BBIO-disclosed transactions; private-company board exposure . |
| Roivant Sciences, Inc. (Nasdaq: ROIV) | Former director | No current interlock; tenure ended Nov 2022 . |
Compensation Committee Interlocks: None involving Dr. Lo; Compensation Committee members are Hassan (Chair), Daniels, Satvat, and Cook; all independent .
Expertise & Qualifications
- Finance/healthcare finance and risk analytics (MIT LFE), quantitative methods, and AI/ML-adjacent computational expertise (MIT CSAIL) aligned to portfolio construction, capital allocation, and R&D risk oversight .
- Prior public-company board experience in biopharma (Roivant; AbCellera) .
Equity Ownership
| Item | Amount | Detail |
|---|---|---|
| Shares beneficially owned | 480,914 | Less than 1% of outstanding shares |
| Breakdown of beneficial holdings | 253,682 | 48,099 shares held by Dr. Lo; 205,583 shares held JTWROS with Nancy N. Lo |
| Options exercisable ≤60 days (as of Apr 1, 2025) | 227,232 | Included in beneficial ownership computation |
| Outstanding options (total, 12/31/2024) | 322,554 | Not all exercisable within 60 days |
Alignment policies:
- Anti-hedging and anti-pledging policy for directors and officers; hedging and pledging of company stock prohibited .
Related Party Transactions (Conflict Screening)
| Item | Counterparty | Year | Amount ($) | Nature | Governance Handling |
|---|---|---|---|---|---|
| Consulting payment under BioSF Global collaboration | QLS Advisors, LLC (Dr. Lo co-founder and chairman) | 2024 | 50,000 | Consulting services via BioSF Global joint collaboration | Reviewed under related person transaction policy; Audit Committee approves related person transactions |
| Director cash payments | LoTech Partners, LLC | 2024 | 50,000 | Board retainer paid to LoTech Partners | Director compensation disclosure footnote |
- Procedures: Audit Committee reviews and approves related party transactions per the Amended and Restated Related Person Transaction Policy .
- Independence: Despite related-party consulting, Board affirmed independence for Dr. Lo under Nasdaq/SEC rules (applies broadly; specific independence conclusion for Lo is within the group of independent directors) .
Governance Assessment
- Board effectiveness: Lo’s quantitative finance and healthcare-finance expertise are additive for risk oversight and capital allocation discussions through NCGC participation; attendance meets governance expectations (≥75%) .
- Independence & conflicts: Independent under Nasdaq/SEC; one disclosed related-party consulting ($50k to QLS Advisors) is modest and subject to Audit Committee oversight—monitor but mitigated by formal review procedures .
- Compensation/ownership alignment: Director pay mixes modest cash retainer ($50k) with time-based options (~$550k grant-date), aligning incentives with long-term TSR; anti-hedging/anti-pledging policy supports alignment .
- Attendance/engagement: Overall Board held nine meetings; directors met ≥75% attendance threshold; Lo is active via NCGC membership; no chair role .
RED FLAGS to monitor
- Related-party consulting with QLS Advisors (Andrew Lo co-founder/chair) creates potential perceived conflict; oversight via Audit Committee partly mitigates. Continue monitoring scope/fees for expansion beyond disclosed $50k and ensure competitive market terms .
- Concentration of director equity in time-based options without performance hurdles may reduce pay-for-performance signal for directors; however, BBIO prohibits hedging/pledging and uses vesting and sale-event acceleration rules to align incentives .
Note: No director-specific performance goals, meeting fees, or committee fees are disclosed; BBIO provides only a board retainer and time-based option grants under its Amended Director Compensation Policy .