Edward Mathers
About Edward T. Mathers
Edward T. Mathers, age 64, is an independent director of OnKure Therapeutics, Inc. (OKUR) since the October 4, 2024 merger, after serving on Reneo’s board from December 2017 until the merger. He is a Partner at New Enterprise Associates, Inc. (NEA), with a career spanning senior roles at MedImmune, Inhale Therapeutic Systems, and 15 years at Glaxo Wellcome. He holds a B.S. in Chemistry from North Carolina State University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MedImmune, Inc. | EVP, Corporate Development and Venture; led MedImmune Ventures | 2002–2008 | Corporate development, venture investing |
| Inhale Therapeutic Systems | VP, Marketing and Corporate Licensing & Acquisitions | Pre-2002 | Business development |
| Glaxo Wellcome (GlaxoSmithKline) | Various sales/marketing positions | 15 years | Commercial leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Trevi Therapeutics (NASDAQ: TRVI) | Director | Since Jul 2017 | Public life sciences |
| Inozyme Pharma (NASDAQ: INZY) | Director | Since Jan 2017 | Public life sciences |
| Rhythm Pharmaceuticals (FSE: 1RV.F) | Director | Since Mar 2010 | Public life sciences |
| Synlogic (NASDAQ: SYBX) | Director | Since Oct 2012 | Public life sciences |
| Senti Biosciences (NASDAQ: SNTI) | Director | Since Jul 2016 | Public life sciences |
| MBX Biosciences (NASDAQ: MBX) | Director | Since Jul 2020 | Public life sciences |
| ObsEva SA (OTC: OBSEF) | Former Director | Nov 2015–Jun 2023 | Prior public board |
| Mirum Pharmaceuticals (NASDAQ: MIRM) | Former Director | Nov 2018–Sep 2022 | Historical interlock with OKUR director Michael Grey (current Mirum Chair) |
| Akouos, Inc. | Former Director | Oct 2017–Dec 2022 | Prior public board |
| Lumos Pharma | Former Director | Jan 2014–Mar 2020 | Prior public board |
| Ra Pharmaceuticals | Former Director | Feb 2010–Apr 2020 | Prior public board |
| Liquidia Technologies | Former Director | Jul 2009–May 2019 | Prior public board |
Board Governance
- Committee assignments: Member, Compensation Committee (not Chair) .
- Independence: Board determined Mathers is independent under Nasdaq standards .
- Attendance: Board met eight times in FY2024; each director attended at least 75% of Board and committee meetings during their service period .
- Executive sessions: Non-employee and independent directors hold periodic executive sessions without management .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Fees earned/paid in cash (FY2024) | $49,021 | Includes $38,048 cash fees for Reneo service paid directly to NEA |
| Option awards (grant-date fair value, FY2024) | $247,557 | ASC 718 fair value; not economic realized value |
| Total (FY2024) | $296,578 | Sum of cash and option grant fair value |
- Director cash retainer framework post-merger: $40,000 board; $10,000 Comp Chair/$5,000 member; other committee retainers per policy. Mathers is a Comp Committee member ($5,000) under this policy .
Performance Compensation
| Award Type | Grant Size | Grant Date/Program | Vesting | Exercise Price |
|---|---|---|---|---|
| “Closing Award” stock options | 15,300 shares | Granted to each non-employee director at merger close | Monthly over 36 months, subject to service | Fair market value at grant; 10-year term |
| Annual stock option award | 7,650 shares | Each Annual Meeting post-merger | Vests in full by next Annual Meeting or 1-year anniversary | FMV at grant; 10-year term |
| Change-in-control treatment | N/A | CIC under Plan/outside director policy | Full vesting of director equity upon CIC if serving through immediately prior to CIC | N/A |
No explicit performance metrics (revenue/EBITDA/TSR) govern director compensation; awards are time-based options under the Plan .
Other Directorships & Interlocks
- Current public boards: TRVI, INZY, 1RV.F (Rhythm), SYBX, SNTI, MBX .
- Historical interlock: Mirum—Mathers former director (2018–2022); OKUR director Michael Grey is current Mirum Chair, indicating prior shared board exposure and potential information-network linkages .
Expertise & Qualifications
- Venture capital: Partner at NEA; extensive biotech and dealmaking background .
- Operating experience: EVP Corporate Development at MedImmune; senior BD roles at Inhale Therapeutic Systems; 15 years commercial roles at Glaxo Wellcome .
- Education: B.S. Chemistry, North Carolina State University .
Equity Ownership
| Measure | Amount | Detail |
|---|---|---|
| Beneficial ownership (Class A) | 7,450 shares | Consists solely of options exercisable within 60 days of Mar 1, 2025; less than 1% |
| Outstanding option awards | 20,200 shares | Options outstanding as of Dec 31, 2024 |
| Hedging/pledging | Prohibited | Company insider trading policy prohibits hedging and pledging by directors |
Board Governance Assessment
- Independence and committee role: Independent; serves on Compensation Committee with no disclosed interlocks/insider participation issues; committee met twice in FY2024 .
- Attendance/engagement: Meets minimum attendance standard; Board held eight meetings in FY2024 .
- Alignment: Director compensation includes equity via options with multi-year vesting; insider policy bans hedging/pledging, supporting alignment .
- Pay structure: Option-heavy compensation for directors (time-based) with annual caps; no discretionary cash bonuses for directors disclosed .
Potential Conflicts and RED FLAGS
- Cash fees paid to NEA: $38,048 of Mathers’ 2024 cash fees were paid directly to NEA, reflecting his affiliation; common practice for VC-affiliated directors but requires monitoring for perceived conflicts and independence in compensation-setting .
- Network interlocks: Historical overlap at Mirum with current OKUR director Michael Grey could be an information flow channel; not a disclosed related-party transaction but should be noted for governance monitoring .
- Related-party transactions: No transactions disclosed involving Mathers/NEA in the PIPE; however, multiple major holders participated in the PIPE, and the Audit Committee oversees related-party reviews .
No director-specific legal proceedings, pledging, or hedging violations disclosed; committee interlocks/insider participation statements indicate no reciprocal board/comp committee conflicts during FY2024 .
Notes
- OKUR’s policies include executive sessions for independent directors and a prohibition on hedging/pledging by insiders, supporting governance quality .
- Director compensation caps limit aggregate cash and equity value per fiscal year to $750,000 ($1,000,000 in initial service year), mitigating pay inflation risks .