Michele Korfin
Organogenesis HoldingsAbout Michele Korfin
Michele Korfin (age 53) is an independent director at Organogenesis (ORGO) serving since 2022. She is currently CEO of Australis Pharmaceuticals (private), and previously was COO/Chief Commercial Officer at Gamida Cell (Nasdaq: GMDA), COO at TYME Technologies (Nasdaq: TYME), VP of Market Access at Kite Pharma (now Gilead), and held a decade-plus of leadership roles at Celgene (now BMS). She holds an MBA from Harvard Business School and a BS in Pharmacy from Rutgers; she is a Registered Pharmacist in New Jersey. Her core credentials span commercialization of advanced cell therapies (Omisirge launch), market access and payer strategy (Yescarta), and large-scale oncology operations and sales leadership.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Gamida Cell Ltd. (Nasdaq: GMDA) | Chief Operating & Chief Commercial Officer | 2020–2024 | Led operations strategy and execution for Omisirge; oversaw launch initiatives and NK Cell platform strategy |
| TYME Technologies, Inc. (Nasdaq: TYME) | Chief Operating Officer | 2018–2020 | Operational leadership at oncology biotech focused on cancer metabolism |
| Kite Pharma, Inc. (Gilead) | VP, Market Access | 2016–2018 | Led payer relations, reimbursement, government affairs for Yescarta; supported manufacturing/supply chain for commercialization |
| Celgene Corporation (BMS) | Various strategic/operational roles | >10 years | Oversaw global development for Revlimid; led oncology sales force (>120 reps) for Abraxane |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Australis Pharmaceuticals (private) | Chief Executive Officer | Current | Private oncology biotechnology company |
| BioNJ | Board of Trustees | Prior | Non-profit representing NJ biotechnology industry |
Board Governance
- Board service and independence: Independent director; nominated for re‑election in 2025 . Member of the Compensation Committee; not a chair and not on Audit/Nominating .
- Committee structure/meetings: Audit met 6× in 2024; Compensation met 8×; Nominating met 3× .
- Attendance: Board met 7× in 2024; no director other than Alan A. Ades attended <75% of board/committee meetings—implies Korfin met ≥75% attendance .
- Lead Independent Director: Arthur S. Leibowitz; CEO/Chair roles combined (Gillheeney Sr.) with Lead Independent balancing structure .
- Compensation committee governance: All members are independent/non‑employee; uses independent consultant (Pearl Meyer) for benchmarking, PSU design; no interlocks or insider participation .
Fixed Compensation
| Component (FY2024) | Amount ($) | Notes |
|---|---|---|
| Annual Director Retainer | 55,000 | Standard for independent directors |
| Compensation Committee Member Fee | 10,000 | Member (not Chair) |
| Total Cash Fees | 65,000 | Sum of retainer plus committee fee |
Performance Compensation
| Equity Award | Grant Date | Shares/Units | Grant Date Fair Value ($) | Vesting |
|---|---|---|---|---|
| RSUs (annual director grant) | Feb 2024 | 51,020 | 175,000 | Typical one‑year vest; 2024 grant vested Feb 15, 2025 |
- Performance linkage: Director equity grants are time‑based; no performance metrics disclosed for director compensation (annual director RSUs typically vest on one‑year anniversary). Change‑in‑control agreement provides full acceleration of time‑based director equity if serving immediately prior to a change in control.
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Korfin.
- Interlocks: Compensation Committee disclosed no interlocks/insider participation; no ORGO executives serve on boards of entities with reciprocal executive overlaps.
Expertise & Qualifications
- Education/licensure: MBA (Harvard), BS Pharmacy (Rutgers), Registered Pharmacist (NJ).
- Technical/industry: Commercialization and operations across cell/gene therapy and oncology; market access and payer strategy; supply/manufacturing readiness; global development oversight; oncology sales leadership.
- Board qualifications: Pharmaceutical industry operating and commercialization experience; management in public/private healthcare companies.
Equity Ownership
| Holder | Shares Beneficially Owned | Rights to Acquire (60 days) | Total | % Outstanding | Notes |
|---|---|---|---|---|---|
| Michele Korfin | 140,670 | — | 140,670 | <1% | As of April 11, 2025; no options/RSUs vesting within 60 days counted in “Right to Acquire” |
| RSUs Outstanding (12/31/2024) | 51,020 | — | 51,020 | — | RSUs outstanding at FY2024 year‑end; vested Feb 15, 2025 |
- Hedging/pledging: Company policy prohibits short sales, hedging, and purchasing on margin for directors and employees.
Governance Assessment
- Strengths:
- Independence and committee service on Compensation Committee; governance processes include independent consultant benchmarking and PSU adoption for executives in 2025, signaling disciplined pay oversight.
- Attendance threshold met; equity-heavy director pay (~73% equity: $175k RSUs vs $65k cash) aligns director incentives with shareholders.
- Robust policies: Insider trading controls (anti‑hedging/margin), clawback policy compliant with Nasdaq Rule 10D‑1.
- Say‑on‑pay support: 92% approval in 2024—broad shareholder support for executive pay framework (contextual signal of governance credibility).
- Potential risks/considerations:
- Significant Stockholder Group and Avista preferred director/observer rights indicate influential holders; however, Korfin is independent and not part of these groups.
- Related‑party transactions exist (facilities leases and 2024 repurchases) with other directors/affiliates, but no ties to Korfin identified.
- RED FLAGS: None identified for Korfin (no related‑party exposure, no hedging/pledging, no attendance shortfall, no pay anomalies disclosed).