Steven Kanes
About Steven Kanes
Steven Kanes, M.D., Ph.D., is Centessa Pharmaceuticals’ Chief Medical Officer, serving since January 2025; he is 60 years old and a neuropsychiatrist with more than 30 years of experience spanning clinical psychiatry and neuroscience drug development . His prior track record includes leading the successful clinical development of ZULRESSO (brexanolone), the first-ever treatment approved for postpartum depression, during his tenure as Chief Medical Officer at Sage Therapeutics (2013–2021) . Dr. Kanes holds both his M.D. and Ph.D. in Molecular and Cellular Pharmacology from Stony Brook University, completed residency at Yale School of Medicine, and was a faculty member at the University of Pennsylvania Department of Psychiatry .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Sage Therapeutics | Chief Medical Officer | 2013–2021 | Led clinical development of ZULRESSO, first FDA-approved PPD treatment |
| EmbarkNeuro | Chief Executive Officer | Not disclosed | CEO of neuroscience-focused biotech pursuing personalized treatments for major depression |
| AstraZeneca | Executive Director, Clinical Development (Inflammation, Neuroscience, Respiratory) | Not disclosed | Key roles in early development and translational science |
| University of Pennsylvania | Faculty, Department of Psychiatry | Not disclosed | Academic appointment in psychiatry |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed in company filings for Dr. Kanes | — | — | Executive officer list and biographies do not identify public company board service for Dr. Kanes |
Fixed Compensation
- Dr. Kanes is not listed among Centessa’s named executive officers (NEOs) in the 2025 proxy; NEO compensation disclosures cover the CEO, CFO, and General Counsel, so his base salary, target bonus, and 2024 pay are not disclosed in the latest proxy .
Performance Compensation
- Company framework: Annual cash incentive bonuses are based on performance objectives set by the Compensation Committee across non-clinical and clinical program advancement, team/infrastructure/governance, and achievement of financial budget goals; targets and payouts for 2024 were disclosed for NEOs only (not Dr. Kanes) .
- Equity awards: Stock options currently do not carry performance conditions; options are granted at fair market value with vesting providing long-term alignment; the Committee may introduce performance conditions in the future .
- Clawbacks/malus: Centessa adopted a Compensation Recovery Policy consistent with SEC/Nasdaq rules in October 2023; malus and clawback provisions apply to bonuses and equity awards per the 2021 plan, with recovery periods defined in policy .
Equity Ownership & Alignment
| Metric | As of Mar 10, 2025 | As of Apr 24, 2025 |
|---|---|---|
| Shares beneficially owned (#) | — (not reported) | — (not reported) |
| Ownership (%) | —% | —% |
| Shares outstanding (denominator) | 133,184,349 | 133,598,369 |
| Pledging/hedging policy | Pledging prohibited; hedging and derivatives transactions prohibited; pre-clearance required for insider trades | |
| Lock-up | Listed as a “Lock-Up Party” for the November 2025 public offering; form of lock-up agreement included in the 8-K |
Notes:
- Beneficial ownership tables in Centessa’s FY2024 10-K and 2025 DEF 14A show no reported beneficial ownership for “Steven Kanes, M.D., Ph.D.” as of the stated dates .
- Company insider trading policy expressly prohibits hedging, short sales, derivative transactions, and pledging/margin usage by insiders .
- The 8-K filed November 13, 2025 lists “Stephen Kanes” among lock-up parties for the offering; the lock-up agreement form is included (terms not excerpted in retrieved chunks) .
Employment Terms
- Role and start date: Chief Medical Officer since January 2025 .
- Equity award timing policy: Annual grants are effective the first trading day of the month following approval; new hire grants, subject to approval, are made on the first trading day of the month following hire; this is a company-wide policy, not specific to Dr. Kanes .
- Executive Severance Plan (general policy, participation not specifically disclosed for Dr. Kanes):
- Outside change-in-control (CIC) period: 12 months of base salary and 12 months of benefits for Tier 2 officers, paid over 12 months .
- Within CIC period: Lump sum equal to 12 months base salary and 100% of target annual bonus, plus 12 months of benefits; full acceleration of time-based equity; performance-based equity deemed satisfied at target; potential 280G cutback to maximize after-tax benefit .
- Compensation Recovery Policy: Company must recover excess incentive-based compensation in event of a required accounting restatement, consistent with SEC/Nasdaq rules .
Investment Implications
- Alignment: No beneficial ownership was reported for Dr. Kanes as of March 10, 2025 and April 24, 2025; company policies prohibit pledging and hedging, and require pre-clearance for trades, supporting governance rigor in insider activity .
- Selling pressure: Dr. Kanes is listed as a lock-up party in the November 2025 equity offering, indicating contractual sale restrictions around that transaction .
- Compensation transparency: As Dr. Kanes is not included in NEO compensation disclosures, his base salary, target bonus, and equity grant terms are not in the latest proxy, making forthcoming filings the key source for pay-for-performance assessment .
- Execution track record: Prior leadership at Sage Therapeutics delivering the first approved treatment for PPD underscores deep development expertise in CNS, relevant to Centessa’s orexin agonist pipeline focus .