Julian Adams
About Julian Adams
Julian Adams, Ph.D., age 70, serves as independent Chairman of the Board at Elicio Therapeutics (ELTX) and has held the role since June 2023 (previously Chairman of Former Elicio since 2017). He is a veteran drug developer credited with discovery of Velcade (bortezomib) at Millennium and Viramune (nevirapine) at Boehringer Ingelheim, and holds a B.S. from McGill University (honorary Sc.D.) and a Ph.D. from MIT. He is currently President & CEO of Stand Up To Cancer (EIF) since July 2023.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Elicio Therapeutics, Inc. | Chairman of the Board | Jun 2023–present | Board leadership separation; independent Chair |
| Former Elicio Therapeutics | Chairman of the Board | 2017–Jun 2023 | Oversight through merger into ELTX |
| Stand Up To Cancer (EIF) | President & CEO | Jul 2023–present | External nonprofit leadership |
| Gamida Cell Ltd. | Chief Executive Officer | Nov 2018–Oct 2022 | Led cell therapies development |
| Clal Biotechnology Industries (CBI) | President & Chief Scientific Officer | Jan–Nov 2017 | R&D leadership |
| Infinity Pharmaceuticals, Inc. | President, R&D; Chief Scientific Officer | 2003–2017; CSO 2006–2010 | Built/led R&D efforts |
| Millennium Pharmaceuticals, Inc. | SVP, Drug Discovery & Development | 1999–2003 | Key role in Velcade discovery |
| Boehringer Ingelheim | Research lead | Earlier career | Credited with Viramune discovery |
| LeukoSite, Inc.; ProScript | Senior R&D roles | Earlier career | Senior leadership in R&D |
External Roles
| Organization | Role | Tenure | Public/Private | Committees/Impact |
|---|---|---|---|---|
| Stand Up To Cancer (EIF) | President & CEO | Jul 2023–present | Nonprofit | Executive leadership |
| Gamida Cell Ltd. | Director | Current | Private (per ELTX proxy) | Board member |
| Immunyx | Director | Current | Private | Board member |
| Pieris Pharmaceuticals, Inc. | Director | 2016–2018 | Public | Prior public board |
| Neon Therapeutics, Inc. (now BioNTech SE) | Director | 2017–2018 | Public | Prior public board |
Board Governance
- Independence: The Board affirmatively determined Dr. Adams is independent under Nasdaq rules; no disqualifying relationships identified.
- Board leadership: Elicio separates CEO and Chair; Dr. Adams is independent Chair, emphasizing governance oversight and management accountability.
- Committees: Chair, Nominating & Corporate Governance Committee; member with Carol Ashe and Karen Wilson. He was replaced on the Audit Committee in August 2024 by Dr. Nissenson. Not a member of the Compensation Committee.
- Attendance: Board met 7 times in FY2024; each director attended ≥75% of Board and committee meetings where they served.
- Risk oversight: Board oversees risk directly and via committees; Audit covers financial/cyber, Compensation covers pay-risk, Nominating & Governance covers governance/ESG and succession.
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| 2024 Fees Earned (Cash) | $87,375 | Actual cash for the year |
| 2024 Option Awards (Grant Date FV) | $17,148 | FASB ASC 718 fair value |
Director Compensation Program (policy):
- Annual base cash retainer $40,000; additional $35,000 for Non-Executive Chair. Committee chairs: Audit $15,000; Compensation $10,000; Nominating & Governance $8,000. Non-chair committee members: Audit $7,500; Compensation $5,000; Nominating & Governance $5,000.
Performance Compensation
- No performance-conditioned components disclosed for directors; annual equity is time-based stock options (Initial Grant 8,200 shares; Annual Grant 4,100 shares) with vesting as described below; full vesting upon change in control or death/disability. No revenue/EBITDA/TSR or ESG metrics tied to director pay disclosed.
| Equity Grant Type | Shares | Vesting | Terms |
|---|---|---|---|
| Initial Grant | 8,200 | 1/36 monthly over 3 years | Exercise price = FMV at grant; accelerates on CoC/death/disability |
| Annual Grant | 4,100 | 1-year (earlier of 1st anniversary or next annual meeting) | Same terms; accelerates on CoC/death/disability |
Other Directorships & Interlocks
| Company | Public/Private | Role | Overlap/Interlock Risk |
|---|---|---|---|
| Gamida Cell Ltd. | Private (per ELTX proxy) | Director | No disclosed transactions with ELTX; independence affirmed |
| Immunyx | Private | Director | No disclosed transactions with ELTX |
| Stand Up To Cancer (EIF) | Nonprofit | President & CEO | No disclosed related-party transactions |
| Pieris Pharmaceuticals, Inc. | Public (prior) | Director | Historical; no current interlocks |
| Neon Therapeutics, Inc. (BioNTech SE) | Public (prior) | Director | Historical; no current interlocks |
Note: ELTX has significant insider participation by another director/shareholder (GKCC, LLC controlled by Y. Chudnovsky ~38% holder; beneficial ownership ~47.9% including warrants), with multiple financings and a convertible note in 2023–2025. No Julian Adams-related transactions disclosed, but Board’s Audit Committee oversees related party transactions.
Expertise & Qualifications
- Drug development leadership in oncology and immunology; credited with discovering Velcade (bortezomib) and Viramune (nevirapine).
- Extensive R&D and executive roles at Infinity, Millennium, Boehringer Ingelheim, and CBI.
- Education: B.S. McGill (honorary Sc.D.); Ph.D. MIT.
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % Outstanding | Composition |
|---|---|---|---|
| Julian Adams, Ph.D. | 45,440 | <1% | Options exercisable within 60 days of Mar 24, 2025 |
| Option Holdings (12/31/2024) | 59,516 | n/a | 42,180 vested; 17,336 unvested as of 12/31/2024 |
- Shares pledged/hedged: Company policy prohibits margin purchases, using company stock to secure margin or other loans, short sales, and certain hedging/monetization transactions; quarterly pre-clearance and trading blackouts apply to directors.
Governance Assessment
- Board effectiveness: Independent Chair with deep R&D credentials; clear separation from CEO supports oversight and accountability. Committee leadership (Nominating & Governance chair) aligns with his governance focus.
- Independence & engagement: Independence affirmatively determined; attendance ≥75% standard met; no disqualifying relationships.
- Alignment: Director equity grants are time-based options; Julian’s beneficial stake is minimal (<1%), which tempers direct “skin-in-the-game” but aligns with standard small-cap biotech board practices.
- Compensation structure: Cash components appropriate for Chair and committee roles; no performance metrics tied to director equity; no meeting fees disclosed. Use of independent consultant (Aon) for executive and director pay benchmarking enhances governance rigor.
- Conflicts/related party: No Julian-specific related-party transactions disclosed. Governance processes for related-party transactions are active and Audit Committee-reviewed. Elevated conflict risk exists at the board level due to concentrated ownership and financing support by another director (GKCC/Chudnovsky), warranting continued oversight; Julian’s independent Chair role and committee structure are mitigating factors.
- RED FLAGS: None identified specific to Julian Adams (no related-party dealings, no hedging/pledging). Portfolio-level caution: significant insider financing by GKCC/Chudnovsky and concentrated ownership; monitor Audit Committee controls and recusal practices.