Jonathan Lim
About Jonathan Lim
Jonathan E. Lim, M.D., age 53, is an independent director and Chairman of Boundless Bio’s Board, serving as Chairman since December 2018 and classified as a Class III director . He co-founded Boundless Bio and brings extensive operating and board experience across public and private biotech companies, including serving as Executive Chairman (since October 2018) and Chairman & CEO (since March 2019) of Erasca, Inc., a publicly traded precision oncology company . Dr. Lim holds B.S. and M.S. degrees from Stanford University, an M.D. from McGill University, and an M.P.H. from Harvard University . Boundless separates the Chair and CEO roles, with the Chair providing oversight and guidance and the CEO managing day-to-day operations .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ignyta, Inc. | Chairman, CEO, President | 2012–Feb 2018; sold to Roche (Feb 2018), integrated into Roche/Genentech (Jul 2018) | Led company through acquisition by Roche |
| Bonti, Inc. | Chairman | Feb 2016–Oct 2018; acquired by Allergan plc (Oct 2018) | Guided through successful sale |
| Eclipse Therapeutics, Inc. | Chairman & CEO | Mar 2011; sold to Bionomics Ltd. in 2012 | Led spinout from Biogen Idec; sale to Bionomics |
| Halozyme Therapeutics, Inc. | President, CEO, Director (Chair 2004–2005) | May 2003–Dec 2010 | Public biotech leadership |
| McKinsey & Company | Management Consultant | Prior role (dates not specified) | Strategy experience |
| NIH/Harvard Medical School & Dana-Farber | Postdoctoral Fellowship | Prior role (dates not specified) | Scientific training |
| New York Hospital–Cornell & Memorial Sloan Kettering | General surgery residency (2 years) | Prior role (dates not specified) | Clinical experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Erasca, Inc. (public) | Executive Chairman (Oct 2018–), Chairman & CEO (Mar 2019–) | 2018–present | Precision oncology; public company |
| ARCH Venture Partners | Venture Partner | Dec 2018–present | Major BOLD shareholder via affiliates |
| City Hill, LLC | Managing Partner | Since 2010 | Holds BOLD shares; Dr. Lim exercises voting/dispositive control |
| Maze Therapeutics, Inc. (public, per proxy) | Director | Since Oct 2019 | Public biopharma board service |
| Scripps Research | Board of Overseers | Since Oct 2018 | Non-profit governance |
| UCSD Moores Cancer Center | Board of Visitors | Since 2015 | Non-profit governance |
| Stanford Interdisciplinary Biosciences Council | Member | Since 2014 | Academic advisory role |
Board Governance
- Committee assignments: Dr. Lim chairs the Compensation Committee and serves on the Audit Committee; he is not listed on the Nominating & Corporate Governance Committee .
- Audit Committee membership and report: Audit Committee members are Jennifer Lew (Chair), Jonathan Lim, and Christine Brennan; the committee recommended inclusion of the audited FY2024 financials in the 10-K after discussions with KPMG on independence and PCAOB matters .
- Audit financial expert: Jennifer Lew is designated the Audit Committee Financial Expert; all audit members are financially literate .
- Independence: The Board determined that all directors other than the CEO are independent per Nasdaq and SEC rules, and independent directors meet in regularly scheduled executive sessions .
- Attendance: In 2024, the Board met five times; Audit met four times; Compensation met three times; Nominating & Corporate Governance did not meet; each director attended at least 75% of Board and committee meetings during periods served .
- Leadership structure: Boundless separates CEO and Chair roles; Dr. Lim currently chairs the Board, with the Nominating & Corporate Governance Committee affirming the appropriateness of this structure and committing to periodic review .
Fixed Compensation
| Component | Amount/Policy | Source |
|---|---|---|
| 2024 Cash Fees – Dr. Lim | $65,625 | 2024 Director Compensation Table |
| Annual Director Retainer (post-IPO) | $40,000 | Non-Employee Director Compensation Program |
| Chair of the Board Additional Retainer | $30,000 | Non-Employee Director Compensation Program |
| Committee Chair Retainers | Audit: $15,000; Compensation: $10,000; Nominating: $8,000 | Non-Employee Director Compensation Program |
| Committee Member Retainers | Audit: $7,500; Compensation: $5,000; Nominating: $4,000 | Non-Employee Director Compensation Program |
| Meeting Fees | Not specified; expenses reimbursed | Director compensation narrative |
Performance Compensation
| Grant/Program | Shares/Options | Exercise Price | Vesting | Notes |
|---|---|---|---|---|
| Feb 15, 2024 option grant | 13,846 options | $8.19/share | Monthly over 3 years | Granted to Drs. Lim, Christensen, Whiting, and Ms. Lew |
| Mar 2024 IPO grant | 13,219 options to Dr. Lim | $16.00/share | Monthly over 3 years | Brennan & Burow received 26,438 options |
| Annual Director Award (amended Mar 27, 2025) | 16,000 options per year | Not specified in proxy | Monthly over 12 months; accelerates if annual meeting occurs earlier | Increased from 13,500 to 16,000 |
| Chair Award (amended Mar 27, 2025) | 8,000 options per annual meeting | Not specified in proxy | Monthly over 12 months; accelerates if annual meeting occurs earlier | Increased from 6,750 to 8,000 |
| Initial Director Award (amended Mar 27, 2025) | 32,000 options upon election | Not specified in proxy | Over three years | Increased from 27,000 to 32,000 |
| Outstanding options (12/31/2024) – Dr. Lim | 61,366 options outstanding | Weighted-average $6.37 (company-wide options) | Various schedules | Director table and equity plan table |
| Vesting Acceleration | Awards vest upon change in control, death, or disability | — | — | Program feature |
No formal director performance metrics (TSR/EBITDA/ESG) are disclosed for director equity awards; options provide market-aligned, at-risk compensation via share price performance .
Other Directorships & Interlocks
| Entity | Relationship to BOLD | Interlock/Exposure |
|---|---|---|
| ARCH Venture Partners affiliates | 12.1% beneficial owner of BOLD common stock | Dr. Lim is a Venture Partner at ARCH; Board member Kristina Burow is an ARCH Managing Director |
| City Hill, LLC | Holder of BOLD shares; acquired 142,857 Series C preferred shares (pre-IPO), converted at 19.5:1 to common | Dr. Lim is Managing Partner and exercises voting/dispositive control; beneficial ownership attributed |
| Voting Agreement (terminated at IPO) | Included entities affiliated with directors; governed director elections pre-IPO | Interlock history with investor affiliates, now terminated |
| Erasca, Inc. | External public company where Dr. Lim is Chairman & CEO | Potential industry overlap in oncology; no specific related-party transactions disclosed in BOLD proxy |
Expertise & Qualifications
- Extensive executive leadership across oncology biotechs (Ignyta, Eclipse, Halozyme), M&A execution (sales of Ignyta to Roche and Bonti to Allergan), and company-building experience .
- Scientific/clinical training including NIH/Dana-Farber fellowship and surgical residency; strong credentials in biopharma R&D and strategy .
- Financial oversight experience via Audit Committee membership; however, Audit Committee Financial Expert designation resides with Jennifer Lew .
Equity Ownership
| Holder/Instrument | Shares/Units | % of Outstanding | Notes |
|---|---|---|---|
| Total beneficial ownership – Dr. Lim | 688,840 shares | 3.1% (based on 22,300,043 shares) | SEC Rule 13d-3 basis |
| Family trust | 102,564 shares | — | Dr. Lim and spouse are co-trustees |
| City Hill, LLC | 550,915 shares | — | Dr. Lim exercises voting/dispositive control; disclaims except pecuniary interest |
| Options exercisable ≤60 days (as of Apr 25, 2025) | 35,361 shares underlying options | — | Counted in beneficial ownership per SEC rules |
| Options outstanding (as of Dec 31, 2024) | 61,366 options | — | Director table |
| Hedging | Prohibited for directors/officers/employees | — | Insider Trading Compliance Policy |
Governance Assessment
- Board effectiveness: Dr. Lim combines independent Chair oversight with Compensation Committee leadership and Audit Committee membership, supporting robust governance coverage across pay and financial oversight .
- Independence and engagement: Board-determined independent; attended at least 75% of meetings; independent directors hold regular executive sessions .
- Compensation alignment: Director pay mixes modest cash retainers with multi-year vesting options and change-in-control acceleration; program was enhanced in March 2025 to increase option grant sizes, indicating a tilt toward equity-based alignment and retention .
- Potential conflicts/interlocks – RED FLAGS to monitor:
- ARCH affiliation: Dr. Lim is a Venture Partner at ARCH while ARCH affiliates are a 12.1% BOLD holder and fellow director Kristina Burow is an ARCH Managing Director; monitor for related-party considerations and recusals in matters affecting ARCH .
- City Hill ownership: City Hill, managed by Dr. Lim, holds BOLD shares and participated in the Series C financing pre-IPO; ensure adherence to related-party transaction policies and appropriate oversight .
- Controls and policies: Formal related-party transaction review by the Audit Committee; indemnification agreements and D&O insurance in place; hedging prohibited, supporting alignment and risk governance .
- Meeting cadence: Nominating & Corporate Governance Committee did not meet in 2024; continued monitoring of governance oversight cadence is prudent as the company matures .