Michael Abecassis
About Michael M. Abecassis
Michael M. Abecassis, MD, MBA, is an independent director of PharmaCyte Biotech (PMCB) who has served on the Board since July 2017. He is a transplant surgeon and academic leader; currently Dean of the University of Arizona College of Medicine – Tucson (since Nov 2019). He earned his MD from the University of Toronto (1983) and an MBA from Northwestern’s Kellogg School of Management (2000). Age: 66 (as of March 10, 2025) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Iowa | Assistant Professor of Surgery; Director of Liver Transplantation and Hepatobiliary Surgery | Began post‑training (dates not specified) | Established leadership in HPB surgery and transplantation |
| Northwestern University (Feinberg School of Medicine) | Director of Liver Transplantation | 1992– (role start) | Initiated Northwestern’s liver transplant program |
| Northwestern University (Feinberg) | Chief, Division of Transplantation; James Roscoe Miller Distinguished Professor (tenured) | 2004– | Led transplant program and faculty |
| Northwestern Comprehensive Transplant Center | Founding Director | 2009– | Built and led the center |
| Northwestern University (Feinberg) | Dean for Clinical Affairs | 2008–2011 | Oversight of clinical affairs |
| PMCB Board | Independent Director | Appointed July 3, 2017–present | Board service started July 2017 |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| University of Arizona College of Medicine – Tucson | Dean | Nov 2019–present | Current primary role |
| Transplant Genomics Inc. (Eurofins subsidiary) | Co‑founder | Not disclosed | Biomarkers for transplant rejection |
| Professional Societies & Advisory | Member/Leader | Various | President, American Society of Transplant Surgeons (2010–2011); service on NIH sections, Medicare Coverage Advisory Committee, and UHC Physician Advisory Board |
Board Governance
- Independence: The Board determined Abecassis is an independent director under Nasdaq rules .
- Committees:
- Compensation Committee: Member; Chair is Jonathan Schechter .
- Strategic Scientific Committee: Chair; receives an additional $3,500 monthly retainer .
- Audit Committee: Not a member (members: Weinstein–Chair, Walker, Schechter) .
- Nominating Committee: Not a member (members: Walker–Chair, Schechter, Weinstein) .
- Attendance: In FY 2024, no director attended fewer than 75% of Board and committee meetings .
- Board leadership: Roles of CEO and Chair are combined due to company size; no lead independent director .
Fixed Compensation
| Component | Policy / Amount | Notes |
|---|---|---|
| Annual cash retainer | $60,000 | For all non‑employee directors |
| Committee chair fee | +$10,000 per chairmanship | Applies to Audit, Compensation, Nominating |
| Strategic Scientific Committee chair | $3,500 per month | Specific to Abecassis as chair |
| FY2024 Fees Earned (Abecassis) | $186,000 | Reported for year ended Apr 30, 2024 |
Performance Compensation
| Equity Element | Grant Policy | Vesting | FY2024 Grants (Abecassis) | Plan Safeguards |
|---|---|---|---|---|
| Annual option grant | Options with $60,000 grant date FV to each non‑employee director; new director one‑time $50,000 option | Annual grant vests at the next annual meeting; new director grant vests immediately | $110,000 option awards (grant date FV) | Min 1‑year vesting for awards (limited exceptions); no option/SAR repricing without stockholder approval; no liberal share recycling |
No director performance metrics are disclosed; director equity is time‑based and subject to plan governance provisions (e.g., minimum vesting, no repricing) .
Other Directorships & Interlocks
| Company | Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|
| None disclosed | — | — | No other public company board roles disclosed in PMCB’s 2025 proxy biography for Abecassis |
Expertise & Qualifications
- Clinical and academic leadership in transplantation and HPB surgery; NIH-funded principal investigator for 20+ consecutive years .
- Board and policy experience (ASTS President 2010–2011; Medicare Coverage Advisory Committee; NIH panels; UHC Physician Advisory Board) .
- Business/translation exposure (co‑founder of Transplant Genomics; MBA) .
Equity Ownership
| Metric | Mar 20, 2024 | Feb 1, 2025 | Sep 15, 2025 |
|---|---|---|---|
| Total beneficial ownership (shares) | 65,384 (includes options) | 103,059 (includes options) | 103,059 (includes options) |
| Ownership % of outstanding | <1% (asterisked) | 1.5% | 1.49% |
| Options included in above | 62,582 options | 100,257 options | 100,257 options |
Option detail at FY2024 year‑end:
- Options outstanding as of Apr 30, 2024: 99,257; of which 61,248 vested .
Alignment safeguards:
- Insider Trading Policy prohibits hedging and monetization transactions in company securities; pre‑clearance required for certain insiders .
- No share pledging by Abecassis disclosed in proxies reviewed .
Governance Assessment
- Strengths:
- Independent director with deep domain expertise in transplantation and academic leadership; serves on Compensation Committee and chairs Strategic Scientific Committee, enhancing board coverage of scientific priorities .
- Strong governance features in the equity plan (minimum vesting, no repricing, director grant cap), plus anti‑hedging policy, support investor alignment .
- Attendance: met expectations (≥75% for FY2024) .
- Potential Watch Items / RED FLAGS (historical context):
- At appointment (2017), director letter provided large fully‑vested annual grants (500,000 restricted shares plus 500,000 options; in addition to $12,500/quarter cash), which is aggressive and misaligned with current best practice. This appears superseded by the 2023 director compensation policy with tighter controls, but highlights legacy risk posture .
- Significant year‑over‑year increase in Abecassis’ director pay from FY2023 to FY2024 driven by adoption of new policy and special committee chair retainer (FY2023 total $38,799 vs FY2024 total $296,000). Investors may wish to monitor alignment vs workload and committee responsibilities .
Shareholder sentiment signal:
- Say‑on‑pay support was high: 2024 For 1,922,352 / Against 186,215; 2025 For 1,094,399 / Against 113,815 (non‑binding), suggesting broad approval of compensation practices during Abecassis’ tenure .
Related‑party exposure:
- No related‑party transactions involving Abecassis disclosed in PMCB’s proxies; Audit Committee reviews and pre‑approves related‑party transactions under its charter .
Compensation committee context:
- Compensation Committee members: Walker, Abecassis, Schechter (Chair). The committee is independent under Nasdaq rules; it administers the equity plans .
Overall implications for investors:
- Abecassis brings strong clinical/regulatory depth and chairs a key scientific committee, supporting board effectiveness on R&D and translational strategy. Current plan design and insider trading policy support alignment; however, the historical 2017 director grant structure and the sharp 2024 pay step‑up (including special committee retainer) warrant continued monitoring to ensure pay remains commensurate with time and responsibility .