Paul Opgenorth
About Paul Opgenorth
Paul Opgenorth, PhD, is Vice President of Development at eXoZymes (EXOZ), effective February 1, 2024, after serving as Director of Research and Development from August 2019 to January 2024; he is 42 years old and holds a PhD in Chemistry, Biochemistry, and Structural Biology (UCLA, 2015) and a BS in Chemistry (UC Davis, 2004) . He is also described by the company as a co‑founder and co‑principal investigator on the NSF CFIRE Meta‑PURE initiative, leading a cell‑free ATP “power module” program to improve biomanufacturing throughput . Company operating performance during his tenure shows continued negative EBITDA and net income, consistent with early-stage build‑out; revenue was not reported in S&P Global’s dataset for these quarters* [Values retrieved from S&P Global].
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| EBITDA ($USD) | -1,915,749* | -1,880,225* | -2,475,789* | -2,450,605* |
| Net Income ($USD) | -1,835,974* | -1,856,421* | -2,360,286* | -2,286,991* |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| eXoZymes Inc. | Director of Research and Development | Aug 2019 – Jan 2024 | Not disclosed |
| Joint BioEnergy Institute (Lawrence Berkeley National Lab) | Postdoctoral Scientist | May 2017 – Aug 2019 | Not disclosed |
External Roles
| Organization/Initiative | Role | Years | Strategic Impact |
|---|---|---|---|
| NSF CFIRE “Meta‑PURE” (Georgia Tech-led consortium) | Co‑principal investigator; eXoZymes co‑founder leading ATP power module | 2025–2028 (3‑year program starting July 1, 2025) | Build and optimize a cell‑free ATP power module to increase yields and speed; production module for santalene |
“Our job in Meta‑PURE is to build a cell-free power plant — an ATP-generating module...” — Dr. Paul Opgenorth
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (%) | Actual Bonus Paid ($) |
|---|---|---|---|
| 2023 | 160,000 | Not disclosed | — |
| 2024 | 190,000 | Not disclosed | 52,800 (discretionary program) |
Notes:
- Bonus is part of a discretionary annual incentive program; specific targets/weightings not disclosed for Opgenorth .
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual/Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Annual Cash Bonus (2024) | Discretionary under annual incentive program | Not disclosed | Not disclosed | $52,800 | Cash, paid for FY 2024 |
No performance-based equity (PSU/TSR-linked awards) for Opgenorth was disclosed; equity awards appear time‑based vesting under the 2020 Equity Incentive Plan .
Equity Ownership & Alignment
- Beneficial ownership and alignment
- Total beneficial ownership: 677,255 shares; 8.04% of outstanding (based on 8,367,810 shares at June 9, 2025) .
- Ownership includes shares deemed beneficial under SEC Rule 13d‑3 (e.g., options exercisable within 60 days) .
| Beneficial Owner | Shares | % of Class |
|---|---|---|
| Paul Opgenorth | 677,255 | 8.04% |
- Options and stock awards detail (as of Dec 31, 2024)
- Options: One grant from 2/1/2021; time-based vesting under 2020 Plan; vesting schedule terms for this grant not individually disclosed .
- RSUs/Stock Awards: All RSUs are fully vested and remain outstanding; specific vested amounts shown below .
| Equity Award Type | Grant Date | Exercisable (#) | Unexercisable (#) | Strike ($) | Expiration | Vested Shares (#) | Market Value ($) |
|---|---|---|---|---|---|---|---|
| Stock Options | 2/1/2021 | 30,515 | 8,440 | 2.44 | 1/31/2028 | — | — |
| Stock/RSU | 3/28/2022 | — | — | — | — | 52,720 | 128,636 |
| Stock/RSU | 5/1/2023 | — | — | — | — | 21,893 | 72,683 |
| RSUs — status | — | — | — | — | — | All RSUs fully vested | — |
Additional alignment factors:
- Stock ownership guidelines: Not disclosed .
- Shares pledged as collateral: No pledging disclosures identified .
- Insider trading policy: Trading pre‑clearance required; blackout periods enforced; 10b5‑1 plans permitted; no covered person adopted/terminated a 10b5‑1 plan in the last fiscal quarter of FY 2024 .
Employment Terms
- Title and effective date: Vice President of Development effective February 1, 2024 .
- Employment agreement/severance for Opgenorth: Not disclosed; CEO agreement summarized, but no individual agreement disclosed for Opgenorth .
- Clawback policy: Recovery of excess incentive compensation (cash or equity) upon accounting restatement applies to current/former executive officers for the prior three fiscal years, regardless of misconduct involvement .
- Equity plan governance: Awards under the 2020 Equity Incentive Plan; vesting terms set at grant; Board/Committee may accelerate vesting; standard option exercise and termination provisions; SARs permitted under plan frameworks .
Shareholder feedback (Say‑on‑Pay and Frequency, July 25, 2025):
| Proposal | For | Against | Abstain |
|---|---|---|---|
| Advisory vote to approve NEO compensation (FY 2026 framework) | 4,272,987 | 1,801 | 1,678 |
| Say‑on‑Pay frequency | One year: 151,229 | Two years: 1,333 | Three years: 4,121,899 |
Related party transactions (alignment/risk):
| Date | Party | Instrument | Amount | Outcome |
|---|---|---|---|---|
| July 3, 2023 | Paul Opgenorth | SAFE | $15,000 | Converted to common shares at IPO on Nov 11, 2024 (aggregate 125,001 shares across MDB and Opgenorth) |
Investment Implications
- Strong “skin‑in‑the‑game”: Opgenorth’s 8.04% stake suggests high alignment with equity value creation; fully‑vested RSUs and sizable option holdings add long‑term exposure .
- Compensation mix evolving: 2024 increased cash pay and a discretionary cash bonus versus 2023, while equity awards for Opgenorth in 2024 were limited to options (no RSUs), indicating near‑term cash emphasis with continued long‑term equity participation .
- Governance mitigants: Robust clawback and insider trading controls reduce misalignment and unmanaged selling risks; no 10b5‑1 adoptions in the last quarter of FY 2024 noted for covered persons .
- Execution risk context: Company remains loss‑making as it builds biomanufacturing capabilities; Opgenorth’s leadership in the NSF CFIRE Meta‑PURE initiative provides external validation of technical execution capability and potential future commercial traction and EBITDA/NI trend table above*.
Disclaimers:
- Financial values marked with an asterisk (*) are sourced from S&P Global. Values retrieved from S&P Global.