Anula Jayasuriya
Lineage Cell TherapeuticsAbout Anula Jayasuriya
Dr. Anula Jayasuriya, M.D., Ph.D., M.B.A., age 68, has served as an independent director of Lineage Cell Therapeutics (LCTX) since May 2021. She is a healthcare-focused venture investor and former pharma executive: Co‑Founder/Managing Director of Kidron Capital (since Jan 2022) and EXXclaim Capital (since Jul 2017); previously co‑founded and managed Evolvence India Life Science Fund (2006–2017), and held executive roles at Genomics Collaborative and Hoffmann‑La Roche. She earned a B.A. (Harvard, summa cum laude), M.Phil. (Cambridge), M.D./Ph.D. (Harvard Medical School), and M.B.A. with distinction (Harvard Business School) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Evolvence India Life Science Fund | Co‑Founder; Fund Manager | 2006–Jul 2017 | Co‑founded and managed India-focused life sciences PE fund |
| Skyline Ventures | Partner | 2001–2002 | Early‑stage venture investing |
| TVM (German/US VC) | Partner (prior to Skyline) | n/a | Venture investing in life sciences |
| Genomics Collaborative, Inc. | VP, Business Development | 1999–2000 | Corporate development |
| Hoffmann‑La Roche | VP, Global Drug Development | 1994–1998 | Global development leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Kidron Capital | Co‑Founder & Managing Director | Jan 2022–Present | Women’s health-focused venture fund |
| EXXclaim Capital | Co‑Founder & Managing Director | Jul 2017–Present | Women’s health innovation VC |
| Jaguar Health, Inc. (JAGX) | Director | Current | Public company directorship |
Board Governance
- Independence: The Board determined Dr. Jayasuriya is “independent” under NYSE American Section 803(A) .
- Committee assignments (as of Apr 18, 2025): Nominating & Corporate Governance Committee – Member; not a chair of any committee .
- Attendance and engagement:
- Board met 7 times in 2024; no director attended fewer than 75% of Board and committee meetings on which they served .
- Non‑employee directors meet in executive session at least quarterly .
- Seven of eight directors attended the prior annual meeting of shareholders .
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Board cash fees (earned) | $57,500 | $57,500 |
| Indicative components | Base director retainer $50,000; Nominating & Corporate Governance member $7,500 (program terms) | Base director retainer $50,000; Nominating & Corporate Governance member $7,500 (current program) |
Program terms (non‑employee directors): Annual cash fees per role — Chair $90,000; Director $50,000; Audit Chair $20,000/Members $10,000; Compensation Chair $15,000/Members $7,500; Nominating Chair $15,000/Members $7,500; Financial Strategy Chair $15,000/Members $7,500 (changes effective July 1, 2024) .
Performance Compensation
| Year | Equity Type | Standard Shares/Grant (Directors) | Dr. Jayasuriya Grant-Date Fair Value | Vesting | Notes |
|---|---|---|---|---|---|
| 2023 | Stock options | 50,000 (annual grant) | $70,500 | Options vest 1 year after grant | Standard annual non‑employee director option grant |
| 2024 | Stock options | 75,000 (annual grant) | $71,558 | Options vest 1 year after grant | Annual grants historically on July 1 |
Additional plan features affecting director equity:
- Clawback: Company has a Dodd‑Frank and NYSE American–compliant clawback policy; awards subject to recoupment .
- Change‑in‑control: If awards are not assumed/continued, unassumed awards accelerate in full (at target or actual performance, as applicable) prior to closing per plan terms .
- Non‑employee director annual compensation cap: $1,000,000 (cash + equity, grant‑date value) .
Other Directorships & Interlocks
| Company | Role | Potential Interlock/Conflict Notes |
|---|---|---|
| Jaguar Health, Inc. (JAGX) | Director | No related‑party transactions disclosed involving Dr. Jayasuriya; Board affirmed independence . |
Expertise & Qualifications
- Advanced education (M.D., Ph.D., M.B.A.) with distinguished academic record; deep scientific and medical training .
- Venture and private equity leadership in women’s health and life sciences; prior big‑pharma development leadership .
- Brings business, scientific, medical, and financial experience across clinical, executive, entrepreneurial, and investment roles .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership (Apr 18, 2025) | 250,000 shares; <1% of outstanding |
| Options outstanding (Dec 31, 2024) | 315,000 options (aggregate outstanding for Dr. Jayasuriya) |
| Stock ownership guidelines | Directors must hold at least 10,000 shares within 3 years of Board election; as of Apr 18, 2025, all directors met/exceeded guidelines |
| Hedging/pledging | Insider trading policy prohibits short sales, hedging transactions, holding in margin accounts, and pledging of company securities |
Governance Assessment
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Strengths
- Independent director with meaningful sector expertise; serves on Nominating & Corporate Governance Committee, supporting board refreshment and oversight .
- Strong meeting engagement indicators at the board level (≥75% attendance threshold met; regular executive sessions) supporting oversight quality .
- Pay structure is equity‑heavy via annual stock options that vest after one year, aligning with shareholder outcomes; clawback and non‑employee director pay cap add guardrails .
- Ownership alignment: meets stock ownership guidelines; policy prohibits hedging/pledging, reducing misalignment risk .
-
Watch items
- Largest shareholder influence (Broadwood) is a board‑level consideration; however, the Board expressly affirmed Dr. Jayasuriya’s independence after reviewing related relationships and transactions; no related‑party transactions disclosed pertaining to her since 1/1/2023 .
- Director equity consists of options (not RSUs/PSUs); while levered to upside, there are no performance metrics tied to director equity awards (standard for U.S. small/mid‑cap biotech boards) .