Maria Törnsén
About Maria Törnsén
Independent director at Immunic, Inc. (IMUX) since July 2022; Class III director with current term expiring in 2026. Age 46 (as of April 14, 2025) and holds an MSc in International Business Administration from Lund University, Sweden, with deep biopharma commercialization leadership across rare diseases and neurology .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Calliditas Therapeutics AB | President, North America | Jan 2024 – Mar 2025 | Led NA commercial operations |
| Passage Bio | Chief Commercial Officer | Jul 2021 – Dec 2022 | Built commercial org and strategy |
| Sarepta Therapeutics | SVP & GM, U.S. Commercial | 2019 – 2021 | Led market access, reimbursement, sales, patient services, marketing |
| Sanofi Genzyme | VP, Global TA Head (rare neurology/metabolic/endocrine) | 2017 – 2019 | Managed $1.6B portfolio; commercial lead on alliances |
| Shire | Endocrine & Rare Diseases commercial leadership | 2011 – 2017 | Rose to VP, Head of Endocrine Rare Disease Sales (U.S.) |
| Merck KGaA; Eli Lilly | Global marketing; Product Specialist | Early career | Commercial/marketing foundations |
External Roles
No other public company directorships for Ms. Törnsén disclosed in the 2025 proxy .
Board Governance
- Independence: Board determined Ms. Törnsén is independent under Nasdaq rules; Mr. Phillips is Lead Independent Director .
- Committees: Audit Committee member; Compensation Committee member. Audit Committee chaired by Barclay Phillips; Compensation Committee chaired by Tamar Howson .
- Financial Expert: Board determined Ms. Törnsén qualifies as an Audit Committee Financial Expert and meets Nasdaq financial sophistication requirements .
- Attendance and activity: Board met 6 times in FY2024; each director attended at least 75% of board and applicable committee meetings. Audit Committee held 4; Compensation Committee held 8; Nominating & Governance held 3 meetings in 2024 .
- Related party transactions: Company reports no related person transactions >$120,000; standing policy requires Audit Committee review and 75% disinterested director approval; directors must recuse if interested .
- Hedging/derivatives: Insider trading policy prohibits hedging or similar transactions and trading in derivatives on Company securities .
Fixed Compensation
| Component | FY2024 Amount (USD) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $57,125 | Policy base retainer $40,000; Audit member $10,000; Compensation member $7,500; paid quarterly |
| Committee Chair Fees | $0 | Not a chair |
| Meeting Fees | $0 | Not specified in policy |
| All Other Compensation | — | None disclosed |
| Total | $158,390 | Sum of cash + option grant value |
Performance Compensation
| Equity Award Policy Element | Detail |
|---|---|
| Initial Option Award (new director) | 100,000 shares in 2024; vests in 36 monthly installments, subject to service |
| Annual Option Award (continuing director) | Increased to 50,000 in 2024; Board approved a one-time increase so each non-employee director received up to 100,000 options in 2024; vests in 12 monthly installments, subject to service |
| Valuation Basis | Grant-date fair value under ASC 718 |
| FY2024 Option Awards (fair value) | $101,265 for Ms. Törnsén |
Other Directorships & Interlocks
- No interlocks or other public company board roles disclosed for Ms. Törnsén in IMUX’s proxy .
- Lead Independent Director and committee chairs identified (Phillips, Howson, Neermann), with no disclosed conflicts tied to Ms. Törnsén .
Expertise & Qualifications
- Expertise: Product commercialization strategy across rare diseases and neurology; alliance/commercial leadership including a $1.6B portfolio at Sanofi Genzyme .
- Qualifications: Audit Committee Financial Expert designation; financial sophistication under Nasdaq; independence confirmed by the Board .
Equity Ownership
| Holder | Beneficial Ownership (Shares) | % of Outstanding | Composition |
|---|---|---|---|
| Maria Törnsén | 118,777 | <1% | Consists of options exercisable within 60 days of March 31, 2025 |
| Shares Outstanding (reference) | 90,150,869 | — | As of March 31, 2025 |
- Pledging/Hedging: Company policy prohibits hedging and derivatives on Company securities; pledging not explicitly addressed in proxy excerpt .
Governance Assessment
- Positive signals: Independent status, Audit Committee Financial Expert designation, and active membership on Audit and Compensation Committees support board effectiveness and financial oversight . Attendance met governance thresholds; committees were active in 2024 (Audit 4; Compensation 8) .
- Alignment and incentives: Director pay mixes cash retainer/committee fees with equity options; FY2024 shows $57,125 cash and $101,265 option grant value for Ms. Törnsén, indicating meaningful equity linkage to shareholder outcomes via options . One-time increase to annual director option awards in 2024 (up to 100,000 options) reflects market alignment/retention, but implies dilution considerations managed under shareholder-approved plan limits .
- Conflicts/related-party: No related person transactions >$120,000; robust policy with Audit Committee oversight and recusal requirements reduces conflict risk .
- Risk controls: Insider trading policy bans hedging/derivatives; board’s risk oversight allocates compensation, financial reporting, and governance risks across committees, with Lead Independent Director structure in place .