John Bathery
InMed PharmaceuticalsAbout John Bathery
John Bathery, age 56, is an independent director of InMed Pharmaceuticals, appointed on October 14, 2025. He brings 30+ years of pharmaceutical experience, including leading global business development operations at Takeda and closing transactions with aggregate financial terms exceeding $60 billion; he also serves on the board of iBIO (Illinois Biotechnology Innovation Organization) since 2018 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Takeda Pharmaceuticals | Head, Global Business Development Operations & Externalization | Dec 2018 – present | Led M&A, licensing, divestments; closed deals >$60B |
| Takeda Pharmaceuticals | VP, Head of Business Development, U.S. Business Unit | Jan 2016 – Dec 2018 | Led U.S. BD; licensing and acquisitions |
| Takeda Pharmaceuticals | Senior Director/Director, Global Business Development | Oct 2009 – Jan 2016 | Global BD responsibilities |
| TAP Pharmaceuticals; Unimed Pharmaceuticals; Abbott Laboratories | Roles of increasing responsibility | Dates not specified | Licensing, program management, operations |
External Roles
| Organization | Role | Tenure | Public/Private/Non-profit |
|---|---|---|---|
| iBIO (Illinois Biotechnology Innovation Organization) | Director | 2018 – present | Non-profit |
Board Governance
- Committee memberships: Audit Committee, Compensation Committee, Governance and Nomination Committee; no chair roles indicated for Bathery .
- Independence: Board determined Bathery is independent under SEC, Nasdaq, and Canadian rules; only the CEO (Eric A. Adams) is non-independent .
- Attendance: Appointed in October 2025, so no FY2025 attendance (Board met 9 times; committees met 4–5 times) .
- Chair of the Board: Andrew Hull (independent) since December 2022; Board separates CEO and Chair roles to enhance oversight .
- Executive sessions: “In camera” sessions held regularly—nine at Board, four Audit, five Compensation, four Governance during FY2025 .
Fixed Compensation
| Component | Amount/Policy | Notes |
|---|---|---|
| Annual retainer (non-employee director) | $50,000 | Inclusive of committee participation fees; effective Oct 1, 2024 |
| Chair of the Board fee | +$10,000 | Paid in addition to retainer |
| Audit Committee Chair fee | Up to +$10,000 | Additional annual fee |
| Compensation Committee Chair fee | Up to +$5,000 | Additional annual fee |
| Governance & Nomination Chair fee | $0 | No additional fee currently |
| Meeting fees | None | No per-meeting fees; expenses reimbursed |
FY2025 director fee outcomes exclude Bathery (appointed Oct 2025); reported fees: Hull $63,750; Baldasare $57,500; Lemerond $53,750; Grove $30,694 .
Performance Compensation
| Equity Component | Grant Timing | Pricing | Vesting | Expiration |
|---|---|---|---|---|
| Annual stock options (non-employee directors) | Immediately after director election at AGM | Exercise price set at close on AGM date | 100% on 1-year anniversary or immediately prior to next AGM | 5 years from grant |
Equity awards for directors are options; no RSUs/PSUs disclosed for directors. Options for executives/NEOs follow separate monthly vest schedules as applicable; director option practices are as above .
Other Directorships & Interlocks
| Person | Other Public Company Boards | Committee Roles Elsewhere | Interlocks/Conflict Notes |
|---|---|---|---|
| John Bathery | None disclosed | iBIO board (non-profit) | No related-party transactions involving Bathery disclosed; company policy requires approval of related person transactions >$120k . |
Expertise & Qualifications
- 30+ years pharmaceutical industry experience across corporate development and partnerships; effective leader guiding global initiatives .
- Led evaluations and negotiations across M&A, in/out-licensing, divestments; closed transactions >$60B .
- Deep BD operations background from Takeda; prior roles at TAP, Unimed, Abbott .
- Active ecosystem engagement via iBIO board since 2018 .
Equity Ownership
| Holder | Form of Ownership | Amount | % of Outstanding | Notes |
|---|---|---|---|---|
| John Bathery | Options exercisable within 60 days | 196 | 0.01% | Based on 2,804,186 shares outstanding (Oct 22, 2025); partially diluted basis for insiders 2,828,251 |
- Hedging prohibited: Directors cannot hedge or short company stock under Insider Trading Policy .
- Pledging: No pledging policy disclosure found in the proxy .
- Ownership guidelines: Directors encouraged to increase ownership; specific numerical guidelines not disclosed .
Governance Assessment
- Independence and committee load: Bathery serves on all three key committees (Audit, Compensation, Governance & Nomination), reinforcing independent oversight breadth; no chair roles indicated, suggesting a focus on contribution rather than control .
- Attendance/engagement: Appointed late FY2025; no attendance record yet; Board and committees showed full engagement (9 Board meetings; robust in-camera sessions), providing strong governance scaffolding into Bathery’s tenure .
- Ownership alignment: Beneficial ownership is minimal (0.01% via 196 options currently exercisable), with annual director option grants expected post-election; alignment relies on option-based exposure rather than material shareholdings—neutral to slightly weak alignment signal at present .
- Conflicts/related parties: No related-party transactions involving Bathery disclosed; company maintains a formal related person transaction approval policy and indemnification; Bathery’s Takeda employment could present situational conflicts if INM transacts with Takeda, but none disclosed .
- Compensation governance: Compensation Committee (independent, chaired by Lemerond) uses external consultant AON/Radford, targets cash at ~25th percentile and equity ~50th percentile to conserve cash and align incentives—positive governance practice .
- Risk indicators: No cease trade orders, bankruptcies, penalties, or sanctions reported for nominees; Section 16(a) filings reported timely—clean compliance signal .
- Transition watch: Current Audit Chair (Baldasare) not standing for re-election, implying forthcoming Audit Committee leadership changes; Bathery’s audit committee presence provides continuity, but chair reassignment is a governance focal point for investors .
RED FLAGS
- Low personal ownership (0.01%) may limit direct economic alignment until annual option grants accumulate; monitor equity accumulation and any adoption of ownership guidelines .
- Potential situational conflicts due to senior role at Takeda if INM enters transactions with Takeda; rely on related-party approval policy and committee independence to mitigate .
POSITIVE SIGNALS
- Broad committee participation across Audit, Compensation, and Governance indicates strong engagement and governance fluency .
- Independent Board leadership structure and frequent executive sessions support objective oversight .
- Use of external compensation benchmarking and conservative cash comp strategy aligns with shareholder capital preservation in a pre-commercial biotech .