Simeon George
About Simeon George
Simeon George, M.D., is an independent director of Design Therapeutics and the Board’s Lead Independent Director since August 2023. He joined the Board in February 2020 (Class II; term through the 2026 annual meeting). He is 48 and serves as Chief Executive Officer and Managing Partner of SR One, a transatlantic biotech venture firm, since September 2020; he previously served as CEO of S.R. One, Limited from January 2018 to September 2020. He holds a B.A. in Neuroscience from Johns Hopkins (Phi Beta Kappa), an M.D. from the University of Pennsylvania, and an M.B.A. (Mayer Scholar) from the Wharton School of the University of Pennsylvania .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| SR One, Limited (GSK subsidiary) | Chief Executive Officer | Jan 2018 – Sep 2020 | Led venture activities of S.R. One prior to spin-out; senior leadership experience cited by Board . |
| SR One, Limited (GSK subsidiary) | Investment roles (various) | 2007 – Sep 2020 | Venture investing and portfolio oversight in life sciences . |
| Bain & Company | Consultant | 2006 – 2007 | Strategy consulting experience . |
| Goldman Sachs | Investment Banker | 2004 | Capital markets experience . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| SR One (independent firm) | CEO & Managing Partner | Sep 2020 – present | Leads transatlantic biotech VC platform . |
| CRISPR Therapeutics AG | Director (public company) | Mar 2015 – present | Current public board . |
| Nkarta, Inc. | Director (public company) | Feb 2020 – present (also Feb 2015 – Sep 2017) | Current public board; prior earlier term . |
| Turning Point Therapeutics, Inc. | Director (public company) | May 2017 – Aug 2022 | Company acquired in Aug 2022 . |
| Principia Biopharma Inc. | Director (public company) | Feb 2011 – Sep 2020 | Company acquired in Sep 2020 . |
| Progyny | Director (public company) | May 2012 – Oct 2019 | Prior public board . |
| HTG Molecular Diagnostics, Inc. | Director (public company) | Jun 2011 – Oct 2015 | Prior public board . |
| Genocea Biosciences, Inc. | Director (public company) | Feb 2009 – Dec 2014 | Prior public board . |
Board Governance
- Structure and independence: The Board determined all directors other than the CEO (Dr. Shah) are independent under Nasdaq rules. Dr. George serves as Lead Independent Director (since Aug 2023), empowered to preside over independent sessions and coordinate agendas with the Chair/CEO .
- Committees (2024 composition and meetings):
- Compensation Committee: Member (Chair: Dr. Arsani William); 2 meetings in 2024 .
- Nominating & Corporate Governance Committee: Member (Chair: Dr. Rodney Lappe); 1 meeting in 2024 .
- Audit Committee: Not a member; 4 meetings in 2024 .
- Research & Development Committee: Not a member; 4 meetings in 2024 .
- Attendance: The Board met 4 times in 2024, and each director attended at least 75% of the aggregate number of Board and applicable committee meetings .
Fixed Compensation
| Component (Director; FY2024) | Amount ($) | Notes |
|---|---|---|
| Fees earned or paid in cash | 86,000 | Actual FY2024 cash compensation . |
| Option awards (grant-date fair value) | 51,980 | ASC 718 grant-date fair value . |
| Total | 137,980 | Sum of cash and options . |
Non-Employee Director Compensation Policy (effective 2024): Base annual retainer $40,000; Lead Independent Director retainer $35,000; committee member retainers—Audit $7,500, Compensation $6,000, Nominating & Corporate Governance $5,000, R&D $7,500; committee chair retainers—Audit $20,000, Compensation $12,000, Nominating $10,000, R&D $8,000 (chair retainer in lieu of member retainer). Annual option grant: 19,000 shares (monthly vesting over 12 months; accelerates upon change in control) . Given his roles (Lead Independent Director; member of Compensation and Nominating committees), the policy retainers align with his FY2024 cash fees of $86,000 .
Performance Compensation
| Equity Element | Disclosure | Terms |
|---|---|---|
| Annual director option grant | Policy: 19,000 options per continuing director at the annual meeting | Vests in equal monthly installments over 12 months; vests in full upon change in control; 10-year term . |
| FY2024 option award value (Dr. George) | $51,980 grant-date fair value | ASC 718; individual share count not separately disclosed; outstanding options summarized below . |
Performance metrics tied to director compensation: None disclosed—director equity is time-based; no revenue/TSR/ESG metrics are applied to non-employee director pay .
Other Directorships & Interlocks
- Current public boards: CRISPR Therapeutics AG; Nkarta, Inc. .
- Network/Interlocks relevant to DSGN governance:
- SR One Capital Fund I Aggregator, LP holds 11.5% of DSGN; Dr. George is managing member of SR One Capital Management, the GP of SR One Capital Partners, GP of the fund (he shares voting/dispositive power; beneficial ownership attributed). This creates a potential investor-representative dynamic on the Board and its Compensation and Nominating committees .
- Another DSGN director, Dr. Heather Berger, was a Principal at SR One from September 2020 to December 2022, indicating prior professional ties within the current Board’s network (not a current employment tie) .
Expertise & Qualifications
- Life sciences venture capital leadership (CEO/Managing Partner, SR One since 2020; prior CEO of S.R. One, Limited), with extensive public company board experience across biotech .
- Finance/transaction background (Goldman Sachs investment banking; Bain strategy consulting) .
- Education: B.A. Neuroscience (JHU, Phi Beta Kappa); M.D. (UPenn); M.B.A., Wharton (Mayer Scholar) .
Equity Ownership
| Ownership Detail | Shares | % Outstanding | Notes |
|---|---|---|---|
| Beneficial ownership (total) | 6,588,892 | 11.6% | Includes SR One fund holdings and options exercisable within 60 days; based on 56,768,678 shares outstanding at 3/31/2025 . |
| Held by SR One Capital Fund I Aggregator, LP | 6,526,476 | 11.5% | Dr. George is managing member of SR One Capital Management (indirect GP); shares voting and investment power; beneficial ownership attributed . |
| Options exercisable within 60 days (Dr. George) | 62,416 | — | Included in beneficial total above . |
| Options outstanding (as of 12/31/2024; directors’ roll-up) | 64,000 | — | Aggregate options outstanding noted for Dr. George . |
| Hedging/pledging | Prohibited | — | Company policy prohibits pledging, short sales, and hedging by directors . |
No related-person transactions involving Dr. George or SR One were listed in the proxy’s “Certain Related-Person Transactions” section for the period since January 1, 2023 (transactions disclosed related to CEO-affiliated entities and a consultant, not SR One) .
Governance Assessment
-
Positives
- Lead Independent Director with clearly delineated authority (presides over independent sessions; agenda-setting with Chair/CEO), enhancing independent oversight in a combined Chair/CEO structure .
- Independence affirmed by the Board under Nasdaq rules; sits on Compensation and Nominating committees, both comprised solely of independent directors .
- Strong ownership alignment: 11.6% beneficial ownership tied largely to SR One fund; options holdings are modest relative to fund stake; company prohibits hedging and pledging, reducing misalignment risks .
- Compensation committee uses FW Cook; committee assessed consultant independence and found no conflicts, and oversees director pay as well as executive compensation .
- Board and committees met regularly (Board: 4; Audit: 4; Compensation: 2; Nominating: 1; R&D: 4), with each director attending at least 75% of applicable meetings in 2024, indicating baseline engagement .
-
Watch items / potential conflicts (monitor)
- Investor-representative dynamic: Dr. George is managing member for the GP of a fund owning 11.5% of DSGN and serves on the Compensation and Nominating committees; while the Board deems him independent, investors should monitor for potential conflicts in areas like compensation design, director nominations, and any future financing/transaction decisions. No related-party transactions with SR One were disclosed in the period reviewed .
- Board attendance disclosure is only “≥75%” rather than precise rates; continue monitoring for sustained engagement metrics at the director level as the program advances .
- External workload: Concurrent service on two other public company boards (CRISPR, Nkarta) plus leadership of SR One may increase time demands; balance appears within typical market norms but bears ongoing monitoring as DSGN’s development milestones intensify .
-
Compensation structure observations (director)
- Cash vs. equity mix balanced; cash fees align with policy given Lead Independent and committee roles; equity awards are time-based options (no performance metrics), which is common but offers less explicit pay-for-performance linkage at the director level .
Overall: Dr. George brings deep biotech investing and board experience and meaningful ownership alignment. The principal governance consideration is his SR One affiliation alongside committee roles; current policies (independence determination, related-party oversight, hedging/pledging prohibitions) mitigate risks, but investors should continue to scrutinize decisions where SR One’s interests could diverge from minority shareholders .