Juliette Audet
About Juliette Audet
Juliette Audet is Chief Strategy and Business Officer at NewAmsterdam Pharma (NAMS), appointed CBO on April 1, 2024 and promoted to Chief Strategy & Business Officer in May 2025; she is 39 years old, holds an MBA with distinction from Harvard Business School and an M.Sc. in Physics from EPFL, and previously served on NAMS’ Board (2020–April 2024) . Company-level performance during her tenure included strong TSR in 2024 (value of initial $100 investment rose to $235.78 vs peer group $104.00) amid continued net losses (Net Income: -$242M in 2024, -$177M in 2023) . Her background spans Forbion partner/principal and Novartis Venture Fund principal roles, plus prior McKinsey and Novartis AG commercial experience .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| NewAmsterdam Pharma Company N.V. | Director (Board) | 2020–Apr 2024 | Early investor/director; helped out-license obicetrapib, set up operations, recruit management team |
| Forbion | Partner | Jan 2021–Mar 2024 | Built NewAmsterdam; business development and financing expertise |
| Forbion | Principal | Oct 2019–Dec 2020 | Investment and portfolio support in life sciences |
| Novartis Venture Fund (Cambridge, MA) | Principal | Jan 2018–Jul 2019 | Venture investing; supported biopharma portfolio |
| Novartis AG / Commercial Division | Various commercial roles | Not specified | Commercial operations experience |
| McKinsey & Company | Consultant (Pharma/Biotech focus) | Not specified | Strategy work for pharma/biotech; BD insights |
External Roles
- No current public-company directorships disclosed for Audet; she resigned from the NAMS Board upon becoming CBO on April 1, 2024 .
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Base Salary (annualized, CHF→USD) | $429,672 | Paid in Swiss francs; converted at $1.1337/CHF average (Apr–Dec 2024) |
| Target Annual Bonus (% of base) | 40% | NEO target opportunities table |
| Actual Bonus Paid (2024) | $188,406 | Overall performance 150% on pro-rata 9 months; CHF→USD at $1.1047/CHF |
Performance Compensation
| Metric | Weighting | Target | Actual/2024 Achievements | Payout | Vesting |
|---|---|---|---|---|---|
| Clinical development milestones | 40% (up to +75% for stretch) | Phase 3 progress across LDL-C programs | Positive Phase 3 topline results: BROOKLYN, TANDEM, BROADWAY; PREVAIL enrollment >9,500; REMBRANDT initiation | Incorporated in overall performance factor (Audet: 150%) | Cash bonus paid in early 2025 |
| CMC supply/launch readiness | 5% | On-time supply; readiness | Ongoing manufacturing readiness for clinical and launch | Included in overall factor | N/A |
| Finance (funding/runway) | 20% | Adequate capital | Two upsized offerings: Feb 2024 net $190.0M; Dec 2024 net $453.4M | Included in overall factor | N/A |
| IP/Operations/BD | 15% (up to +25% for stretch) | Patents, hires, BD | USPTO issued composition patent listed-to-be in Orange Book; hiring for key roles; BD activities initiated | Included in overall factor | N/A |
| Commercial/Medical Affairs | 20% | Launch plan execution | World-class commercial/MSL build; offices in NL/FL/PA; launch plan development | Included in overall factor | N/A |
- 2024 overall performance determination led to Audet’s 150% payout of target bonus (pro-rated) .
- Equity incentives are primarily stock options; no RSUs/PSUs were disclosed for Audet’s NEO package .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership (Apr 15, 2025) | 74,022 shares; less than 1% of outstanding |
| Breakdown | 1,104 shares directly; options to purchase 72,918 shares exercisable within 60 days |
| Outstanding options (12/31/2024) | 250,000 unexercisable; grant date 4/1/2024; exercise price $21.37; expiration 4/1/2034 |
| Vesting schedule (options) | 25% on 1st anniversary (4/1/2025), then equal monthly installments for 36 months, subject to continued service |
| Anti-hedging/pledging policy | Hedging, short sales, and pledging/margin accounts prohibited for officers/directors |
| Pledged shares | None pledged by executives/directors (company statement) |
Employment Terms
| Term | Provision |
|---|---|
| Employment agreement | Via Globalization Partners Switzerland SA (Mar 21, 2024) with eligibility for base salary, annual bonus, equity (LTIP), and benefits |
| Severance (without Cause/for Good Reason) | 12 months base salary, bonus earned/payable + pro-rata bonus for year of termination; no excise tax gross-ups; at-will employment |
| Change-in-control (double trigger) | Same severance if termination within 3 months before/12 months after CoC; all time-based options/equity accelerate; certain vested options exercise window extended |
| Quantified CoC economics (as of 12/31/2024) | Cash: $601,541; LTI acceleration: $1,082,500; Total: $1,684,041 |
| Clawback | Incentive compensation subject to recoupment upon accounting restatement under SEC/Nasdaq Rule 10D-1/5608 |
| Policies | No hedging/pledging; no material perquisites; options not repriced; no excise tax gross-ups |
Company Financial Context (Pay-for-Performance)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($) | $102,694,000* | $14,090,000* | $45,563,000* |
| EBITDA ($) | -$3,548,000* | -$182,918,000* | -$176,176,000* |
| Net Income ($) | -$22,634,000* | -$176,937,000* | -$241,598,000* |
Values retrieved from S&P Global.*
| Metric | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 |
|---|---|---|---|---|
| Revenues ($) | $12,772,000* | $2,978,000* | $19,145,000* | $348,000* |
| EBITDA ($) | -$43,178,000* | -$68,873,000* | -$35,590,000* | -$55,079,000* |
| Net Income ($) | -$92,177,000* | -$39,527,000* | -$17,364,000* | -$72,005,000* |
Values retrieved from S&P Global.*
Additional disclosed pay-versus-performance data: Company TSR increased to 235.78 (initial $100 investment basis) in 2024 vs 102.48 in 2023; peer group TSR was 104.00 in 2024 and 104.59 in 2023; Net Income was -$242M (2024) and -$177M (2023) .
Compensation Committee Analysis
- Peer group used for 2024 NEO pay setting: 24 Phase 2/3 biopharma peers (e.g., IDEAYA, Immunovant, Structure Therapeutics, Krystal, Viking, Madrigal, etc.) with criteria on market cap, revenue, employee count, and public age; Radford survey supplemented for LTIs .
- Best-practice governance includes pay-for-performance emphasis, balanced metrics, independent compensation consultant (Aon), clawback adoption, and double-trigger CoC provisions; prohibited hedging/pledging and tax gross-ups .
Related Policies and Governance
- Insider trading policy and governance documents published; code of ethics provides whistleblower protection .
- 2025 AGM proposals included a non-binding advisory vote on 2024 NEO compensation and frequency for future say-on-pay votes .
Investment Implications
- Alignment levers: Audet’s compensation is equity-heavy with a 250,000 option grant at $21.37 (10-year term) and time-based vesting, directly linking value to long-term share appreciation and retention through 4-year vest cadence . Prohibition of hedging/pledging and adoption of an SEC/Nasdaq-compliant clawback reinforce alignment .
- Retention/CoC: Double-trigger change-in-control terms (12 months cash + pro-rata bonus; full acceleration of time-based equity) are market-standard; quantified CoC package (~$1.68M as of year-end 2024) is moderate relative to CEO/C-suite, balancing retention with shareholder protections (no excise tax gross-ups) .
- Ownership and selling pressure: Beneficial ownership is small (<1%); exercisable options (72,918 within 60 days of Apr 15, 2025) suggest predictable vest-driven potential sale windows, though company policy constraints and lack of hedging/pledging mitigate misalignment risk .
- Performance link and execution risk: 2024 bonus metrics tied to concrete clinical, financing, IP, and commercial milestones—many achieved (three Phase 3 positives; significant capital raises; launch readiness), supporting pay outcomes (Audet 150% of pro-rated target) . Nonetheless, persistent losses and pre-commercial status increase execution risk; equity-centric incentives are appropriate to motivate launch and commercialization milestones .
Note: An 8-K announced Audet’s appointment and board resignation on the same day, signaling governance alignment between management and board roles . Monitoring future Form 4 filings will help assess any emergent selling pressure; no specific insider transaction entries were identified in the document searches performed.