Douglas Treco
CRISPR TherapeuticsAbout Douglas A. Treco, Ph.D.
Douglas A. Treco (age 67) is CRISPR Therapeutics’ Lead Independent Director (since December 2021) and has served on the Board since June 2020. He is Chief Executive Officer and Chairman of Inozyme Pharma (Nasdaq: INZY) since April 2023 (Chairman since May 2020), co‑founded Ra Pharmaceuticals (acquired by UCB in April 2020) and Transkaryotic Therapies, and previously served as CEO of Alchemab Therapeutics (Apr 2021–Apr 2022). Treco holds a Ph.D. in biochemistry and molecular biology (SUNY Stony Brook) and completed postdoctoral work at the Salk Institute and Massachusetts General Hospital; he was a visiting scientist at MGH and lecturer in genetics at Harvard Medical School (2004–2007) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| CRISPR Therapeutics | Lead Independent Director | Dec 2021–present | Presides over executive sessions; liaison to independent directors; governance oversight |
| Ra Pharmaceuticals (acquired by UCB) | Co‑founder; President & CEO | 2008–Jul 2020 | Built rare disease platform; led sale to UCB (Apr 2020) |
| Alchemab Therapeutics | Chief Executive Officer; Director | Apr 2021–Apr 2022 | Led early-stage antibody discovery company |
| Transkaryotic Therapies | Co‑founder | From 1988 (acquired in 2005) | Gene therapy pioneer; later acquired by Shire |
| Harvard Medical School | Lecturer in Genetics | 2004–2007 | Academic teaching and mentorship |
| Massachusetts General Hospital | Visiting Scientist, Molecular Biology | 2004–2007 | Research leadership in molecular biology |
External Roles
| Organization | Role | Tenure | Public/Private | Notes |
|---|---|---|---|---|
| Inozyme Pharma (Nasdaq: INZY) | Chief Executive Officer; Chairman | CEO since Apr 2023; Chairman since May 2020 | Public | CEO and Board Chair |
| Lightstone Ventures | Scientific Advisor | Since Nov 2020 | Private VC | Portfolio advisory |
| Unnamed medical device company | Board Member | Current | Private | Sales/manufacturing focus |
Board Governance
- Committee assignments: Audit Committee member; Nominating Committee member and Chair; not on Compensation Committee .
- Independence: Board determined Treco is independent under SEC and Nasdaq rules .
- Attendance: Board held five formal meetings in 2024; each director attended at least 75% of Board and committee meetings on which they served .
- Leadership structure: Combined Chair/CEO roles (chair: CEO Samarth Kulkarni); Lead Independent Director role (held by Treco) provides independent oversight, presides over sessions without management, and engages with shareholders as appropriate .
- Compensation Committee governance (context): Independent directors; engages Alpine Rewards, LLC as independent advisor; uses peer benchmarking .
Fixed Compensation (Director)
| Component | Amount/Policy | 2024 Actual (USD) | Source |
|---|---|---|---|
| Annual cash retainer | $50,000 (non‑employee director) | — | |
| Lead Independent Director fee | $15,000 | — | |
| Audit Committee member fee | $10,000 (member); $20,000 (chair) | — | |
| Nominating Committee fee | $5,000 (member); $10,000 (chair) | — | |
| 2024 cash fees earned (Treco) | — | $91,167 |
Notes: Cash fees are paid quarterly and prorated for service changes; the company uses Swiss shareholder binding votes on Board compensation limits annually .
Performance Compensation (Director)
| Equity Element | Design/Policy | 2024 Grant (Treco) | Vesting | Exercise Price Policy |
|---|---|---|---|---|
| Annual stock option grant (returning directors) | 13,000 options; 12 equal monthly vesting; full vest by next AGM | Grant date fair value: $409,680 | Monthly over 12 months | Set at fair market value on grant date (Nasdaq closing price) |
| Initial option grant (new directors) | 26,000 options; monthly vesting over 3 years | — | Monthly over 36 months | Set at fair market value on grant date |
Sources: Director equity policy ; Treco 2024 option awards grant-date fair value $409,680 .
Performance metrics: None for director equity awards; options are time‑based and not linked to TSR/financial targets .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict | Disclosure |
|---|---|---|---|
| Inozyme Pharma (INZY) | CEO & Chairman | Monitor for any business dealings with CRISPR Therapeutics; none disclosed | No related-party transactions involving Treco disclosed for 2024–2025 |
The proxy’s related‑party transactions disclosure covers significant dealings; only investor purchases in a Feb 2024 registered direct offering (ARK, Capital Research, SR One) are listed; Treco is not mentioned .
Expertise & Qualifications
- Scientific/biotech leadership: Rare disease, gene targeting, gene therapy; co‑founder roles and R&D leadership history .
- Public company experience: CEO/Chair at INZY; multiple biotech board roles historically .
- Academic credentials: Ph.D. (SUNY Stony Brook); postdoctoral research (Salk Institute, MGH); Harvard lecturer .
- Board leadership: Lead Independent Director responsibilities include presiding over independent sessions, agenda input, liaison with Chair/management, and shareholder engagement .
Equity Ownership
| Metric | Value | Source |
|---|---|---|
| Direct common shares | 2,000 | (16) |
| Options exercisable within 60 days | 78,000 | (16) |
| Total beneficial ownership | 80,000 | (16) |
| % of shares outstanding | <1% | |
| Hedging/pledging | Prohibited by Insider Trading Policy |
Governance Assessment
-
Strengths
- Lead Independent Director with explicit governance remit; independent committee leadership (Nominating Chair), plus Audit Committee membership supports board oversight quality .
- Board confirmed independence; attendance thresholds met; standing independent committees (Audit, Compensation, Nominating) .
- Director equity is time‑vested options aligned with shareholder value; hedging/pledging prohibited, supporting alignment .
-
Watch items / potential red flags
- Combined Chair/CEO structure introduces concentration of power; mitigated by Lead Independent Director duties but remains a governance consideration .
- Treco’s external CEO/Chair role at a public company (INZY) increases time demands; no conflicts disclosed, but monitor for future related‑party transactions or interlocks .
- Director compensation is option‑heavy without performance metrics; common in biotech, but investors may prefer clearer performance‑linked elements for directors .
-
Shareholder engagement and pay context
- Company maintains independent compensation governance and uses an independent consultant (Alpine); say‑on‑pay support for NEOs at ~75% in 2024 indicates room for improvement in pay design perception (executive program context) .