Kurt von Emster
About Kurt von Emster
Independent director (Class I) age 57 as of May 19, 2025; on Jasper’s pre‑merger board from November 2019 to September 2021 and current board since September 2021. Managing Partner at Abingworth LLP (Partner since January 2015; Managing Partner since July 2015); previously co‑founded venBio LLC and held senior investing roles at MPM Capital and Franklin Templeton. Holds a B.S. in Business & Economics from UC Santa Barbara and is a Chartered Financial Analyst (CFA). Jasper’s board has affirmatively determined von Emster is independent under SEC and Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Abingworth LLP | Partner; Managing Partner | Partner since Jan 2015; Managing Partner since Jul 2015 | Leads biotech venture investing; governance across portfolio boards |
| venBio LLC | Co‑founder & Partner | May 2009–Jan 2015 | Built venture platform; biotech investing |
| MPM Capital | General Partner; Portfolio Manager, MPM BioEquities Fund | 2001–2009 | Launched and managed crossover biotech hedge fund |
| Franklin Templeton Investments | Portfolio Manager | Investment career started 1989; managed health/biotech funds in 1990s | Founded and managed sector funds |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Tizona Therapeutics, Inc. | Director | Since Nov 2020 | Private clinical-stage immuno-oncology |
| Orbus Therapeutics, Inc. | Director | Since Jul 2020 | Private neuro-oncology |
| Launch Therapeutics | Director | Since Aug 2021 | Private; development services |
| SFJ Pharmaceuticals Inc. | Director | Since Apr 2020 | Private drug development financing |
| Iambic Therapeutics | Director | Since Nov 2023 | Private AI-driven drug discovery |
| CymaBay Therapeutics (Nasdaq: CBAY) | Director | Apr 2009–Mar 2024; acquired by Gilead Mar 2024 | Prior public board |
| CRISPR Therapeutics AG | Director | Mar 2015–Jun 2019 | Prior public board |
| Vera Therapeutics (Nasdaq: VERA) | Director | Nov 2020–May 2022 | Prior public board |
| Vaxcyte (Nasdaq: PCVX) | Director | Jun 2019–Jun 2022 | Prior public board |
| Trishula Therapeutics | Director | Dec 2020–Nov 2021 | Prior private board |
Board Governance
- Committees: Chair, Nominating & Corporate Governance; member, Audit; member, Compensation; member, Research & Development .
- Independence: Board determined von Emster (and other non‑employee directors) are independent under SEC and Nasdaq standards .
- Attendance: Board held six meetings in FY2024; each director attended at least 75% of combined board and committee meetings; independent directors meet in executive session after each regular board meeting .
- Committee activity: R&D Committee held four meetings in FY2024; Nominating & Corporate Governance held two meetings and acted by written consent three times .
Fixed Compensation
Non‑Employee Director Policy – Retainers (2024)
| Committee/Board | Chairperson ($) | Each Other Member ($) |
|---|---|---|
| Board of Directors | $70,000 | $40,000 |
| Audit Committee | $15,000 | $7,500 |
| Compensation Committee | $10,000 | $5,000 |
| Nominating & Corporate Governance Committee | $8,000 | $4,000 |
| Research & Development Committee | $11,300 | $6,300 |
Kurt von Emster – 2024 Director Pay
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $66,800 | Aligns with Board member retainer plus Audit/Comp/R&D member fees and Nominating chair fee |
| Option Awards (Grant‑date fair value) | $161,489 | Under 2024 Equity Incentive Plan; ASC 718 fair value |
| Total | $228,289 | 2024 director compensation |
Performance Compensation
Equity Awards Mechanics (Director Policy Changes in 2024)
| Feature | Jan 1–Apr 18, 2024 | From Apr 19, 2024 |
|---|---|---|
| New Director Initial Stock Option | 9,400 shares; 25% vest at 1‑year, then 1/48 monthly | 15,000 shares; 25% vest at 1‑year, then 1/48 monthly |
| Annual Stock Option (at each AGM) | 4,700 shares; vest in full at 1‑year | 7,500 shares; vest in full at 1‑year |
Performance Metrics in Director Compensation
| Metric Category | Disclosure |
|---|---|
| Financial/ESG performance metrics tied to director equity or cash | None disclosed; director equity awards are time‑vested options per policy |
Other Directorships & Interlocks
- Abingworth/Carlyle linkage: Entities affiliated with The Carlyle Group Inc. (via Abingworth Bioventures VII LP) beneficially own 1,066,189 Jasper shares (7.1% of outstanding). Abingworth LLP (principal member of the Carlyle affiliate chain) has delegated investment and dispositive power over those securities; von Emster is Managing Partner at Abingworth LLP, creating a governance interlock to a 7.1% beneficial owner .
- Velan/Avego presence on board: Entities affiliated with Velan Capital/Avego beneficially own 1,471,903 shares (9.8%); another director (Vishal Kapoor) is a partner at Avego Management, indicating shareholder‑board ties (not directly tied to von Emster but relevant to overall board dynamics) .
Expertise & Qualifications
- Deep biotech investing and board governance experience across private and public therapeutics companies .
- Education and credentials: B.S. in Business & Economics (UC Santa Barbara); CFA charterholder .
Equity Ownership
| Holder | Direct Shares | Options Exercisable ≤60 Days | Total Beneficial Ownership | % of Class |
|---|---|---|---|---|
| Kurt von Emster | 2,117 | 20,004 | 22,121 | <1% |
| Options Outstanding (Dec 31, 2024) | — | 20,004 | — | — |
| Hedging/Pledging Status | — | — | Prohibited by Jasper’s Insider Trading Policy | — |
Governance Assessment
- Strengths: Multi‑committee engagement (Audit, Compensation, R&D) and chairing Nominating & Corporate Governance enhances board effectiveness and oversight breadth; independence affirmed under Nasdaq/SEC rules; attendance at least 75% suggests engagement .
- Ownership alignment: Holds 22,121 shares beneficially, including 20,004 options; director equity comprised of time‑vested options (annual grants), which provides some alignment albeit with option leverage; hedging and pledging prohibited, supporting alignment .
- Compensation reasonableness: Cash fees consistent with committee roles; equity grant policy scaled upward in April 2024 (initial and annual option sizes), increasing equity exposure for directors without performance conditions; no meeting fees disclosed, reducing pay inflation risk .
- Potential conflicts (monitoring needed): Abingworth/Carlyle 7.1% stake combined with von Emster’s role at Abingworth creates an interlock with a significant shareholder; board has considered relationships in independence determinations, but continued monitoring of related‑party exposures and committee decisions is prudent .
- Committee process quality: Compensation Committee uses an external consultant (Alpine Rewards) and assessed independence and conflicts; committee oversees clawback policy for executive officers and reviews incentive risk, supporting governance rigor .
RED FLAGS to watch: Upward shift in director equity grant sizes in 2024 without disclosed performance conditions; significant shareholder interlock via Abingworth/Carlyle affiliation; ensure continued transparency on recusals and independence in matters touching Abingworth/Carlyle interests .
