Graham Ross
About Graham Ross
Graham Ross (age 65) is Acting Chief Medical Officer and Head of Clinical Development at Immix Biopharma (IMMX) since June 2021, with an MBChB in medicine and fellowship training as a pharmaceutical physician in the UK . He led clinical development and the registration of pertuzumab (PERJETA) in breast cancer at Roche (2006–2015), and served as Senior Medical Science Director at AstraZeneca (2015–2017) and Director of Clinical Development at GSK (1995–2006) . Immix is a clinical‑stage, pre‑revenue company; in February 2025 the FDA granted RMAT designation to NXC‑201 for relapsed/refractory AL amyloidosis, evidencing clinical progress under Ross’s medical leadership .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| GlaxoSmithKline | Director of Clinical Development | 1995–2006 | Led oncology clinical development programs . |
| Roche Pharmaceuticals | Global Clinical Science Leader | 2006–2015 | Responsible for clinical development and registration of pertuzumab (PERJETA) in breast cancer indications . |
| AstraZeneca | Senior Medical Science Director | 2015–2017 | Directed medical science activities in oncology programs . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Oncology Consulting Company (independent) | Owner | 2017–present | Provides oncology clinical development consulting; complements Immix CMO role . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Salary ($) | $104,423 | $88,593 |
| Bonus ($) | — (no cash bonus disclosed) | — (no cash bonus disclosed) |
| Nonequity Incentive Plan Compensation ($) | $52,212 | — |
| Stock Awards ($) | — | — |
| Option Awards ($) | — | — |
| Total ($) | $156,635 | $88,593 |
- The company states “No bonuses were paid to Dr. Ross for 2024 or 2023”; his 2023 payout was categorized as nonequity incentive plan compensation, not a bonus .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Nonequity Incentive Plan (2023) | Not disclosed | Not disclosed | Achieved (amount reflects $52,212 paid) | $52,212 | Cash, no vesting |
| Annual Cash Bonus (2024) | Not applicable to Ross | — | — | $0 | — |
- Company bonus metrics for 2024 were defined for CEO/CFO (not Ross): dosing patients in IMX‑110/NXC‑201, tech transfer to U.S., manufacturing supply, and capital/hiring, each 20% weighting; these do not apply to Ross’s bonus in 2024 (none paid) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | 15,000 shares (solely via options exercisable within 60 days) (9) |
| Ownership % of outstanding | <1% |
| Options – exercisable | 15,000 at $1.86; expiration 7/5/2031 |
| Options – unexercisable | 0 as of 12/31/2024 per table; footnote indicates monthly vesting to 7/5/2025 (see note) |
| Vesting schedule (note) | Granted 7/5/2023; vests in equal monthly installments over 4 years; fully vested by 7/5/2025 |
| Shares pledged | None pledged as of 12/31/2024 |
| Hedging/derivatives | Prohibited (no short sales, hedging, or derivative transactions) |
| Ownership guidelines | Not disclosed in proxy for executives |
- Reconciling vesting: the “Outstanding Equity Awards at Dec 31, 2024” table shows the 15,000 options as exercisable, yet footnote (6) describes monthly vesting through 7/5/2025; this suggests accelerated or administrative status allowing exercisability at year‑end; company footnote remains governing schedule .
Employment Terms
- Role and start date: Acting Chief Medical Officer and Head of Clinical Development since June 2021 .
- Agreement: No formal employment agreement; paid hourly and granted options; mutual confidentiality/NDA with Graham Ross Oncology Consulting Services Ltd signed 6/24/2021 .
- Equity grant: 15,000 options on 7/5/2023 at $1.86, vest monthly over 4 years, fully vested 7/5/2025; expiration 7/5/2031 .
- Severance and change‑of‑control: Not disclosed for Ross (no formal employment agreement described; no severance or CoC terms disclosed) .
- Clawbacks: 2021 Omnibus Plan amended to include clawback provisions in 2023 to comply with applicable law .
- Anti‑hedging/pledging: Policy prohibits hedging/short sales; pledging requires pre‑clearance; none pledged as of 12/31/2024 .
Investment Implications
- Pay‑for‑performance alignment: Ross’s compensation is primarily cash at modest levels and a small option grant (15,000), with a 2023 nonequity payout of $52,212; absence of annual bonuses in 2024 indicates limited variable cash alignment .
- Selling pressure: Minimal—only 15,000 options, expiring 2031, with vesting scheduled through 7/5/2025; no pledging; hedging prohibited .
- Retention risk: No formal employment agreement or severance; hourly compensation model suggests flexibility but could elevate retention risk vs. peers with multi‑year contracts; however, the modest equity stake limits misaligned incentives .
- Governance and risk controls: Clawback framework in the 2021 Plan and strict insider‑trading policy reduce governance risk; no legal proceedings disclosed for officers/directors in past ten years .
- Execution track record: Strong prior record (PERJETA registration at Roche) and clinical progress at Immix (FDA RMAT designation for NXC‑201) underpin clinical leadership; company remains pre‑revenue with ongoing net losses typical of clinical‑stage biopharma, requiring continued capital access .