Min Cui
About Min Cui
Min Cui, Ph.D. is an independent Class B Director of Nuvation Bio, appointed in April 2024 in connection with the Company’s acquisition of AnHeart Therapeutics Ltd.; he is age 56 and serves on the Compensation Committee . Dr. Cui is the founder and Managing Director of Decheng Capital (since 2011) with prior operating and investment roles across biotech and medtech, and holds a B.S./M.S. in Molecular Biology from Peking University and a Ph.D. in Cancer Biology from Stanford University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Decheng Capital LLC | Founder; Managing Director | Since 2011 | Led healthcare venture investments and served on numerous portfolio boards |
| Bay City Capital | Principal | 2006–2011 | Venture investing in life sciences |
| Southern Research Institute | Director of Strategic Investment | Prior to 2006 (sequence indicated) | Drug R&D investment strategy |
| Pan Pacific Pharmaceuticals | Chief Scientific Officer; EVP | 1998–2002 | Co‑founder; scientific leadership |
| Hucon Biopharmaceuticals | CEO; President | 2003–2005 | Executive leadership of PRC pharma |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Accuragen, Nanjing Bioheng, EpimAb, Harton, Mammoth Biosciences, Mirvie, Shape Therapeutics, Siro Diagnostics, VintaBio | Director (private companies) | Current (as disclosed) | Board oversight in biotech/medtech |
| Western University of Health Sciences | Board of Trustees | Current | Governance oversight |
| Organization (Prior Public/Notable Boards) | Role | Outcome/Notes | Tenure (if disclosed) |
|---|---|---|---|
| Alpine Immune Sciences | Director | Acquired by Vertex Pharmaceuticals | Not disclosed |
| ARMO BioSciences | Director | Acquired by Eli Lilly | Not disclosed |
| China Biologic Products | Director | Public company | Not disclosed |
| Cue Health Inc. | Director | Public company | Not disclosed |
| Cirina | Director | Acquired by GRAIL | Not disclosed |
| GeneWEAVE | Director | Acquired by Roche Molecular Systems | Not disclosed |
| GenturaDx | Director | Acquired by Luminex | Not disclosed |
| GRAIL | Director | Acquired by Illumina | Not disclosed |
| ImmPACT Bio USA | Director | Acquired by Lyell Immunopharma | Not disclosed |
| Ion Torrent | Director | Acquired by Life Technologies | Not disclosed |
| LevitasBio; Sino MedicalDevice; Velos Biopharma | Director | Velos acquired by Merck | Not disclosed |
Board Governance
- Independence: The Board affirmatively determined Dr. Cui is independent under NYSE listing standards .
- Committee assignments: Compensation Committee member (Chair: W. Anthony Vernon) .
- Attendance: In 2024 the Board held 14 meetings; each director attended ≥75% of Board and committee meetings where they served. Compensation Committee met 12 times; Nominating Committee 2; Audit Committee 5 .
- Board structure: Board Chair is David Hung; Lead Independent Director is Robert B. Bazemore Jr. .
- Class designation: Dr. Cui is a Class B Director (elected by Class B stockholders) with term continuing until the 2027 Annual Meeting .
Fixed Compensation
| Component | Policy Amount | 2024 Amount for Dr. Cui |
|---|---|---|
| Annual cash retainer (non‑employee directors) | $40,000 | $0 (voluntarily forfeited) |
| Lead Independent Director additional retainer | $30,000 | N/A (not applicable) |
| Committee chair/member fees – Audit | Chair $15,000; Member $7,500 | $0 (voluntarily forfeited) |
| Committee chair/member fees – Compensation | Chair $12,000; Member $6,000 | $0 (voluntarily forfeited) |
| Committee chair/member fees – Nominating & Governance | Chair $10,000; Member $5,000 | $0 (voluntarily forfeited) |
- Policy: Reasonable expense reimbursement for meeting attendance .
Performance Compensation
| Equity Instrument | Grant Practice | 2024 Outcome for Dr. Cui | Vesting/Metrics |
|---|---|---|---|
| Annual director stock option (grant date FV ~$385,000) | Granted at Annual Meeting; vests in full by next Annual Meeting or 1 year | Forfeited (no option award recognized) | N/A for Dr. Cui (forfeited) |
| Initial director stock option (FV ~$770,000 for new directors) | Vests monthly over 3 years | Forfeited (no option award recognized) | N/A for Dr. Cui (forfeited) |
No director performance metrics (e.g., TSR, operational goals) are disclosed for non‑employee director compensation, and Dr. Cui declined all equity awards in 2024 .
Other Directorships & Interlocks
- Current public boards: None disclosed for Dr. Cui; current roles are on private company boards and a university board .
- Committee interlocks: Company reports no Compensation Committee interlocks or insider participation for current members (Bazemore, Cui, Vernon); none were officers or employees in past three years .
- Shared directorships: Noted for other directors (Hung and Vernon at Novocure), not for Dr. Cui .
Expertise & Qualifications
- Advanced scientific training: Ph.D. in Cancer Biology (Stanford), B.S./M.S. in Molecular Biology (Peking University) .
- Operator-investor background: Founded Decheng Capital; prior C‑suite roles at Pan Pacific and Hucon; venture roles at Bay City Capital; strategic investment leadership at Southern Research Institute .
- Board experience: Extensive across biotech and medtech, with multiple successful exits to global strategics .
Equity Ownership
| Holder/Vehicle | Class A Shares | % of Class A Outstanding | Notes |
|---|---|---|---|
| Entities affiliated with Decheng Anbio Limited | 25,954,439 | 7.7% | Aggregates positions across SPV, Fund III and Global Healthcare Fund; Dr. Cui is director/manager across the general partners/vehicles described |
| Stock options (director) | 0 | N/A | Dr. Cui held no director options and forfeited awards |
| Hedging/Pledging | Prohibited | N/A | Company anti‑hedging/anti‑pledging policy applies to directors |
- Form 4 reference: Beneficial ownership and entity affiliations disclosed via Form 4 filed by Dr. Cui on September 5, 2024 .
Governance Assessment
- Alignment: Strong “skin‑in‑the‑game” through 7.7% beneficial ownership via Decheng‑affiliated vehicles; notably, Dr. Cui voluntarily forfeited all director cash and equity compensation in 2024, signaling alignment and reduced cash conflicts .
- Independence and engagement: Board determined Dr. Cui is independent; Compensation Committee member; Board and committees were active in 2024, with all directors meeting the ≥75% attendance threshold .
- Potential conflicts: Appointment coincident with the AnHeart acquisition and significant Decheng holdings create a structural related‑party proximity; however, the Board’s Related‑Person Transactions policy and Audit Committee oversight are in place, and independence was affirmed with no material disqualifying relationships disclosed for Dr. Cui .
- Policies and safeguards: Anti‑hedging/pledging policy; formal related‑party review; independent Compensation Committee (engaged FW Cook for benchmarking) .
RED FLAGS: None disclosed specific to Dr. Cui (no hedging/pledging, no director pay, no reported related‑party transactions). Monitoring advisable around ongoing transactions with Decheng‑affiliated entities given substantial ownership and appointment context .