Jörg Neermann
About Jörg Neermann
Independent Class II director of Immunic, Inc. since 2019; age 58; elected to serve through the 2028 annual meeting subject to stockholder approval. Venture investor and former VC managing director with a PhD in biotechnology (Technical University of Brunswick), studies at MIT and economics studies at Harvard Business School; currently a venture partner at Vorwerk Ventures (since 2023). Board determined he is independent under Nasdaq rules and he attended at least 75% of board and committee meetings in 2024.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vorwerk Ventures | Venture Partner | 2023–present | VC governance; life sciences investing |
| Curexsys GmbH | Chief Executive Officer | May 2021–Sep 2022 | Led privately held German biotech |
| LSP Services Deutschland GmbH (for LSP V Coöperatieve U.A.) | Managing Director | Jan 2007–early 2021 | Invested in unlisted securities; fund was a Company stockholder |
| Deutsche Venture Capital (Deutsche Bank) | Managing Director | Prior to LSP (dates not specified) | Led healthcare investment franchise |
| Atlas Ventures (Germany) | Investor | Prior to Deutsche Venture Capital | Healthcare investments |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Vivoryon N.V. (Euronext Amsterdam) | Non-Executive Director | Sep 2011–Jun 2023 | Alzheimer’s therapeutics oversight |
| Idea AG (private German company) | Non-Executive Director | Current | Board governance |
| ViCentra B.V. | Supervisory Board Member | Until Jan 2021 | Medical device oversight |
| Eyesense GmbH | Supervisory Board Member | Until Jan 2021 | Health tech oversight |
| Ventaleon GmbH | Supervisory Board Member | Until Dec 2020 | Biotech oversight |
| Kuros AG | Board Member | Until May 2017 | Biotech oversight |
| Imcyse S.A. | Board Member | Until Jan 2021 | Autoimmunity therapeutics oversight |
| Betula29 GmbH | Owner & Managing Director | Current | Private company management |
Board Governance
- Board class: Class II; director since 2019; standing for re-election to serve until 2028. Independent under Nasdaq rules.
- Committees:
- Audit Committee: Member. Audit Committee held 4 meetings in 2024.
- Nominating & Governance Committee: Chair. Committee held 3 meetings in 2024. Oversight includes board composition, director assessment, chair assignments, cybersecurity oversight, FCPA policy, and code of ethics compliance.
- Attendance: Board held 6 meetings in 2024; each director (including Dr. Neermann) attended at least 75% of board and applicable committee meetings. Directors at the time attended the 2024 annual meeting.
- Independence and risk oversight: Board affirmed independence for six of eight directors, with committee-level risk oversight (Audit: financial reporting and related-party; Compensation: compensation risk; Nominating & Governance: governance, independence, conflicts).
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual base retainer | $40,000 | Non-employee director cash retainer (paid quarterly) |
| Audit Committee member fee | $10,000 | Member (chair receives $20,000) |
| Nominating & Governance Committee chair fee | $10,000 | Chair (members receive $5,000) |
| Cash fees earned (2024) | $60,000 | Reported for 2024 |
- Policy includes lead independent director retainer ($10,000), not applicable to Dr. Neermann.
Performance Compensation
| Award Type | Grant Detail | Vesting | 2024 Grant-Date Fair Value (USD) |
|---|---|---|---|
| Non-Statutory Stock Options (Annual award) | Annual option award for continuing directors; increased to 50,000 in 2024 and, via one-time increase, aligned to up to 100,000 shares in 2024 | Annual awards vest in 12 monthly installments (service-based) | $125,275 (2024 option awards fair value) |
| Initial Option Awards (for new directors) | Increased to 100,000 shares in 2024 (from 32,000) | Vest in 36 monthly installments | — |
- No disclosed director performance metrics (e.g., TSR, EBITDA) tied to director equity; awards are service-vested. Hedging in company securities is prohibited for directors under the Insider Trading Policy.
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict Considerations |
|---|---|---|---|
| Vivoryon N.V. | Public (Euronext) | Non-Executive Director (former) | No disclosed related-party transactions with Immunic in 2024; governance experience beneficial |
| Idea AG | Private | Non-Executive Director (current) | No disclosed related-party transactions with Immunic in 2024 |
| LSP Services Deutschland GmbH | Private | Managing Director (former; until early 2021) | Provided services to LSP V Coöperatieve U.A., a Company stockholder; he left early 2021; board affirms current independence |
Expertise & Qualifications
- Scientific and finance background: PhD in biotechnology (Technical University of Brunswick) with studies at MIT; economics studies at Technical University of Brunswick and Harvard Business School. Extensive venture capital leadership and healthcare investment experience.
Equity Ownership
| Holder | Shares (Direct/Indirect) | Options (Exercisable ≤60 days) | Total Beneficial Ownership | Ownership % |
|---|---|---|---|---|
| Dr. Jörg Neermann | 100,000 | 155,959 | 255,959 | <1% |
- No pledging or related-party transactions disclosed; hedging/derivatives prohibited by policy.
Governance Assessment
- Strengths: Independent director with deep biotech VC expertise; chairs Nominating & Governance Committee overseeing board composition, independence, cybersecurity and ethics; consistent attendance; no related-person transactions disclosed; hedging prohibited, supporting alignment.
- Compensation/Alignment: 2024 mix tilted to equity ($125,275 options fair value vs $60,000 cash), supporting shareholder alignment via option-based compensation; awards are time-based, not performance-metric driven.
- Potential conflict watchpoints: Historical affiliation with LSP (a Company stockholder) ended early 2021; board affirms current independence and the N&G committee oversees conflicts, reducing current conflict risk.
- RED FLAGS: None disclosed in 2024—no related-party transactions >$120,000; no attendance shortfalls; no hedging or pledging disclosed. Continue monitoring for any future related-party engagements and director equity policy changes.