Kim Drapkin
About Kim Drapkin
Kimberlee (Kim) Drapkin, 57, joined Climb Bio’s board in March 2025 and serves as an independent director with deep finance leadership experience in biotech, including CEO of Graphite Bio (Aug 2023–Mar 2024) and CFO/Treasurer of Jounce Therapeutics (Feb 2013–May 2023). She is a CPA, began her career at PricewaterhouseCoopers, and holds a B.S. in accounting from Babson College. At Climb Bio, she is designated an SEC “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Graphite Bio, Inc. | Chief Executive Officer | Aug 2023 – Mar 2024 | CEO leadership; turnaround/wind-down context typical for period |
| Jounce Therapeutics, Inc. | Chief Financial Officer; Treasurer | CFO: Aug 2015 – May 2023; Treasurer: Feb 2013 – May 2023 | Public-company CFO; capital markets and controls |
| PricewaterhouseCoopers LLP | Early career | Not disclosed | Foundation in audit/financial reporting |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Imugene Limited | Director | Since Jun 2023 | Public biopharma; current board service |
| Kineta, Inc. | Director | Since Jun 2023 | Public biopharma; current board service |
| Acumen Pharmaceuticals, Inc. | Director | Since Apr 2022 | Public biopharma; current board service |
| Graphite Bio, Inc. | Director | Jul 2023 – Mar 2024 | Former board role |
| Yumanity Therapeutics, Inc. | Director | Dec 2020 – Dec 2022 | Former board role |
| Proteostasis Therapeutics, Inc. | Director | Feb 2019 – Dec 2020 | Former board role |
Board Governance
- Committee roles: Audit Committee Chair; member, Nominating & Corporate Governance Committee. Audit held 5 meetings in 2024; Nominating held 1. Committee compositions meet Nasdaq/SEC independence requirements; Drapkin designated an “audit committee financial expert.”
- Director independence: Board determined all current directors are independent except the CEO (Aoife Brennan), Andrew Levin and Stephen Thomas; Drapkin is independent.
- Attendance norms: Board met 5 times in 2024; each director then in office attended ≥75% of aggregate board and committee meetings; directors expected to attend the annual meeting. (Drapkin joined in 2025; attendance data pertains to 2024 incumbents.)
- Risk oversight: Audit committee oversees financial/operational/cybersecurity/legal/compliance/reputational risks; Compensation committee oversees compensation-risk; Nominating oversees board composition and succession planning.
Fixed Compensation
| Policy Year | Cash Retainer – Board | Board Chair Retainer | Committee Member Retainer | Committee Chair Incremental Retainer |
|---|---|---|---|---|
| 2025 policy (effective Mar 23, 2025) | $40,000 | $30,000 | Audit: $7,500; Comp: $5,000; Nominating: $5,000 | Audit: $7,500; Comp: $5,000; Nominating: $5,000 |
| 2024 policy (context) | $35,000 | $30,000 | Audit: $7,500; Comp: $5,000; Nominating: $4,000 | Audit: $7,500; Comp: $5,000; Nominating: $4,000 |
- Director compensation cap: Annual total value limit per director $750,000; if first elected during the annual period, $1,000,000 cap (equity valued at grant-date fair value).
Performance Compensation
| Award Type | Shares | Vesting Schedule | Term | Strike Price Basis | Change-of-Control Treatment |
|---|---|---|---|---|---|
| Initial option (upon appointment) – 2025 policy | 80,000 | 2.7778% monthly over 36 months from grant (time-based) | 10 years | Closing price on Nasdaq at grant date | 100% vesting acceleration upon Change in Control if in service through CoC |
| Annual option (each Annual Meeting) – 2025 policy | 40,000 | Vests in full on 1-year anniversary or immediately prior to next annual meeting | 10 years | Closing price on Nasdaq at grant date | 100% acceleration upon Change in Control |
- Meeting-based annual option (2024 continuing directors): 10,000 options; one-year vest. (Drapkin was appointed in 2025; shown for policy context.)
- Anti-hedging: Company prohibits short sales, derivatives and hedging transactions by directors.
- Clawback: Incentive Compensation Recoupment Policy (Rule 10D-1/Nasdaq) applies to executive officers; compensation committee oversees recovery policies.
Other Directorships & Interlocks
- Major shareholder context: Entities affiliated with RA Capital own ~46.6% of common stock; RA-affiliated directors (e.g., Andrew Levin) and RA-related service agreements disclosed—oversight of related-party transactions lies with the audit committee chaired by Drapkin.
- Compensation committee interlocks: None—no committee member is/was an officer or employee; no reciprocal board/comp-committee interlocks with company executives.
Expertise & Qualifications
- Financial expertise: Designated SEC “audit committee financial expert”; CPA credential; extensive public-company CFO experience.
- Biopharma leadership: CEO and multiple public biopharma boards; governance and capital markets experience.
- Governance: Service on audit and nominating committees; familiarity with risk oversight, controls, and board composition.
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Breakdown | Notes |
|---|---|---|---|---|
| Kimberlee (Kim) Drapkin | 4,444 | <1% (of 67,575,767 outstanding) | Options exercisable within 60 days of Mar 31, 2025: 4,444 | Footnote (9) specifies 4,444 options within 60 days; no direct share holdings disclosed |
- Anti-hedging policy prohibits derivatives/hedging by directors; no pledging disclosures specific to Drapkin.
Governance Assessment
- Strengths: Independent director; Audit Committee Chair with SEC “financial expert” designation; audit committee oversees related-person transactions and pre-approves auditor services—strong controls and risk oversight posture.
- Alignment: Director pay tilted to equity options with multi-year vesting; change-of-control acceleration standard but time-based vesting promotes longer-term alignment. Annual director comp caps constrain dilution/inflation.
- Engagement: New appointment in Mar 2025; committee leadership implies expected high engagement; board guidelines emphasize annual meeting attendance and committee meetings cadence.
- Potential red flags/considerations:
- Concentrated ownership: RA Capital’s 46.6% stake can influence governance; audit committee oversight of related-party transactions is important to mitigate conflicts.
- Auditor relationship optics: Company’s auditor is PwC; Drapkin began her career at PwC. The audit committee’s independence and pre-approval policy reduce conflict risk; board affirms committee independence.
- Related-party ecosystem: RA-affiliated services (Sera Services/Blackbird) and consulting arrangements are disclosed and subject to audit committee review; continued vigilance warranted.
Overall, Drapkin’s finance background and audit chair role are positives for board effectiveness; monitoring related-party transactions under a concentrated holder base remains a key governance focus.