Patrice Rioux
About Patrice Rioux
Patrice P. Rioux, MD, PhD, has served as Acting Chief Medical Officer of Monopar Therapeutics since December 2016 and provides CMO‑level services via his firm pRx Consulting, LLC, typically one workday per week . He is co‑founder, Director, and CEO of Thiogenesis Therapeutics Corp., and holds an MD (Faculté de Médecine Pitié‑Salpêtrière, Université Paris VI), a PhD in Mathematical Statistics (Université Paris VII), and a Degree of Pharmacology in pharmacokinetics/clinical pharmacology (Pitié‑Salpêtrière) . Monopar listed his age as 70 in 2021 and 73 in 2024; tenure at Monopar began in December 2016 . During his tenure, Monopar received HREC clearance and initiated a Phase 1 dosimetry trial for MNPR‑101‑Zr radiodiagnostic in Australia in 2024, aligning with his clinical leadership remit .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Monopar Therapeutics | Acting Chief Medical Officer | Since Dec 2016 | Oversight of clinical development, regulatory strategy; liaison to CEO |
| pRx Consulting, LLC | President/Consultant (CMO services) | Since Jun 2004 | Provides development, clinical/regulatory consulting; avg. 1 day/week to Monopar |
| Monopar Therapeutics, SARL (France) | Director | Active during consulting terms | Governance for French subsidiary |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Thiogenesis Therapeutics Corp. | Co‑founder, Director, CEO | Ongoing | Executive leadership; biotech development |
Fixed Compensation
| Year | Compensation Element | Terms | Amount/Detail |
|---|---|---|---|
| 2023 | Consulting fee (pRx) | Monthly retainer | $2,000 per month |
| 2023 | Stock options | Board‑approved grant to Dr. Rioux | 10,000 options; exercise price = Nasdaq closing on later of Board approval or 1/1/2023; vests pro‑rata monthly over 12 months; vesting ends on termination |
| 2024 | Consulting fee (pRx) | Monthly retainer | $2,000 per month |
| 2024 | Stock options | Board‑approved grant to Dr. Rioux | 10,000 options; exercise price = Nasdaq closing on later of Board approval or 1/1/2024; vests pro‑rata monthly over 12 months; vesting ends on termination |
Structure: Independent contractor via pRx; no base salary or target bonus disclosed for Rioux; fees and option grants are under Monopar’s 2016 Stock Incentive Plan .
Performance Compensation
- No performance bonus targets, PSU/RSU grants, or disclosed performance metrics tied to Rioux’s compensation; his option grants vest time‑based monthly under consulting agreements .
- Monopar’s Stock Incentive Plan allows performance‑based awards generally, but Rioux’s specific grants are not performance‑conditioned in filed agreements .
Equity Ownership & Alignment
| As‑of Date | Holder | Shares Beneficially Owned | Percent of Class | Notes |
|---|---|---|---|---|
| April 16, 2021 | Patrice P. Rioux | 69,296 | “*” (under 1%) | Beneficial ownership as reported; total shares outstanding 12,569,933 |
- Stock ownership guidelines: Not disclosed for Rioux. Pledging/hedging: Company’s Insider Trading Policy mandates pre‑clearance, blackout periods, and prohibits short sales and certain derivative transactions; no explicit pledging disclosure found .
- Change‑of‑control: Under Monopar’s Stock Incentive Plan, unvested options generally become fully exercisable upon a Change of Control; restrictions on stock awards lapse (subject to 409A constraints) .
Employment Terms
- Contract form: Consulting Agreement between Monopar and pRx Consulting, LLC (Dr. Rioux as President) effective 1/1/2023 and 1/1/2024; 12‑month term; either party may terminate without cause with 10 days’ notice .
- Scope & time: Duties include general CMO responsibilities, clinical trial design, statistical modeling, clinical operations oversight, regulatory strategy, investor due diligence; average one workday per week; reports to CEO .
- Competition & confidentiality: pRx will not perform Services for direct competitors absent mutual written agreement; confidentiality agreements and IP assignment obligations are in place (CDA dated 9/29/2021; inventions assigned to Monopar) .
- Fees & expenses: $2,000/month; expenses reimbursable with prior approval; pRx responsible for facilities/equipment; independent contractor status (taxes, insurance) .
- Dispute resolution & law: Arbitration in Chicago, IL; Illinois law governs; attorneys’ fees to prevailing party; severability and integration clauses standard .
- Clawback policy: Monopar adopted a Nasdaq‑compliant compensation recoupment policy for executive officers (applies to incentive‑based compensation following restatements); scope depends on award type and restatement circumstances .
- Equity plan terms: 2016 Stock Incentive Plan (as amended) governs awards; no option repricing without shareholder approval; detailed vesting/exercisability, change‑of‑control, and tax/409A provisions apply .
Investment Implications
- Alignment: Low cash retainer and modest time‑based option grants suggest limited immediate insider selling pressure and moderate alignment via equity awards; prior beneficial ownership indicates some skin‑in‑the‑game, though <1% stake as of 2021 .
- Retention risk: As an independent contractor with 10‑day termination right and external CEO role at Thiogenesis, retention and time allocation risks are present; however, defined scope and reporting lines partially mitigate operational uncertainty .
- Event risk: Plan‑level change‑of‑control acceleration could increase realized equity compensation upon a transaction; absence of severance in consulting terms limits cash obligations on departure .
- Governance & controls: Insider trading controls (blackouts, pre‑clearance) reduce opportunistic trading; company‑wide clawback policy adds guardrails on incentive pay tied to financial measures .
Not disclosed: Say‑on‑pay outcomes for Rioux (not an NEO in recent proxies), stock ownership guidelines compliance, Form 4 trading history, and performance pay linkages specific to Rioux.