Zung To
Kezar Life SciencesAbout Zung To
Senior Vice President (SVP) of Clinical Development since 2023 and promoted to Chief Development Officer in June 2025, Zung To brings ~35 years of industry experience spanning immunology, oncology, transplantation, and neuroscience, with >20 years in senior leadership roles; he holds a B.S. in Biological Sciences from UC Davis . At Kezar, he has led clinical development operations and presented the PORTOLA Phase 2 AIH trial design at a 2025 investor event, indicating hands-on oversight of trial execution . For company performance context during his tenure, Kezar’s “Pay vs Performance” disclosure shows TSR value of a $100 investment of 42.11 (2022), 5.67 (2023), and 4.02 (2024), and net losses of $68.2M (2022), $101.9M (2023), and $83.7M (2024) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Kronos Bio | Vice President of Clinical Development Operations, Biometrics, Project Management, and Quality; Hematology Life Cycle Franchise Leader | Not disclosed | Led franchise long-term strategy and oversaw operations/biometrics to scale development execution |
| Jazz Pharmaceuticals | Vice President of Global Clinical Operations, Data Management, Strategic Sourcing | Not disclosed | Transformed clinical development infrastructure to accelerate oncology and neuroscience portfolio |
| Genentech/Roche | North America Regional Head of Late Stage Oncology Development Operations; Therapeutic Head of Early Clinical Development | 14 years | Senior leadership across early/late-stage programs; scaled late-stage ops regionally |
| Abgenix (acquired by Amgen) | Clinical Project Manager | Not disclosed | Program-level clinical operations management |
| Syntex (acquired by Roche) | Clinical Project Manager | Not disclosed | Program execution and clinical operations |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| — | — | — | No public external board or committee roles disclosed |
Performance Compensation
Stock Options
| Grant Date | Instrument | Number of Options | Exercise Price | Vesting Schedule | Expiration | Notes |
|---|---|---|---|---|---|---|
| 2025-07-01 | Employee Stock Option | 7,000 | $4.40 | 1/48 monthly starting 2025-07-01 | 2035-06-30 | Form 4; grant under Company plan; attorney-in-fact signature by CFO |
The vesting cadence (monthly) creates a steady accumulation of vested options but does not imply selling; no sales are disclosed in the cited Form 4 filing .
Company Bonus Framework (context)
| Metric Area | Weighting | 2024 Attainment | Description |
|---|---|---|---|
| Zetomipzomib LN clinical/operational goals | 75% | 95% | Corporate goals drove NEO bonus outcomes; To’s remit overlaps the clinical components |
| Protein secretion clinical program (solid tumors) | 12% | 95% | Operational progress weighting |
| Financial and business development activities | 13% | 95% | Corporate-level execution |
These bonus metrics/weights apply to named executive officers and reflect the company’s performance framework; specific cash bonus details for Zung To are not disclosed .
Equity Ownership & Alignment
| Item | Detail | Evidence |
|---|---|---|
| Officer Reporting Status | Filed initial Form 3 on 2025-04-16 (reporting person) | EDGAR index showing Form 3 for “To Zung Phoung” |
| Current Derivative Holdings (disclosed) | 7,000 employee stock options granted 2025-07-01 | Form 4 filing (grant, price, vesting, expiry) |
| Pledging/Hedging | Not disclosed in available filings | No pledging/hedging references found in cited filings |
Employment Terms
| Item | Status | Evidence |
|---|---|---|
| Role at Kezar | SVP, Clinical Development (2023–2025); promoted to Chief Development Officer (June 2025) | Team page; Business Wire Q2’25 update |
| Contract, severance, CIC terms | Not disclosed | No employment agreement terms for To found in DEF 14A or 8-Ks searched |
Performance & Track Record
- Assumed responsibilities for clinical trial execution and development operations following Kezar’s 2023 restructuring; named in the company’s press release as SVP, Clinical Development Operations .
- Speaker at Feb 27, 2025 virtual KOL event; presented PORTOLA Phase 2 AIH trial design and clinical strategy, evidencing direct oversight of trial execution .
- PORTOLA status: IDMC allowed the trial to proceed without modification; to date, no Grade 4/5 SAEs observed; enrollment completed with topline data targeted for 1H 2025, reflecting execution against clinical milestones .
- LN program context: PALIZADE safety update indicated serious AEs and fatalities across arms; learning incorporated into future AIH trials (enhanced patient workup/monitoring), highlighting risk management in clinical operations .
Company Performance Context
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Value of initial fixed $100 investment (TSR) | 42.11 | 5.67 | 4.02 |
| Net Income (Loss), $MM | (68.2) | (101.9) | (83.7) |
Investment Implications
- Execution leverage: As CDO overseeing AIH and broader development, To’s operational decisions are pivotal for PORTOLA readouts and regulatory engagement; the IDMC’s “proceed” status reduces near-term development risk in AIH and reflects credible safety oversight .
- Incentive alignment: The July 2025 option grant vests monthly over four years, creating ongoing equity exposure and retention incentives; while vesting cadence can lead to periodic Form 4 activity, no selling is evidenced in the cited grant filing .
- Organizational signal: Promotion to CDO in June 2025 suggests strong internal confidence and concentrates accountability for clinical execution—a positive for delivery against 1H 2025 AIH milestones .
- Transparency gap: Proxy-level cash compensation and severance/CIC terms are not disclosed for To (not a 2024 NEO), limiting pay-for-performance benchmarking; investors should monitor upcoming proxies and insider filings for evolving incentives .