Abraham Bassan
About Abraham Bassan
Independent director at Septerna, Inc. since November 2021; age 40 as of April 21, 2025. Venture-backed operator and investor with roles spanning cell therapy and oncology; Principal at Samsara BioCapital, interim CEO/President/Director at Link Cell Therapies (private), former President of Cargo Therapeutics (then private), and prior program biology leadership at Revolution Medicines; education includes B.A. in Molecular Biology (Princeton) and M.S. in Developmental Biology (Stanford) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Link Cell Therapies Inc. (private) | Interim CEO, President, Director | May 2022–present | Senior leadership; company-building |
| Cargo Therapeutics, Inc. (then private; now Nasdaq: CRGX) | President | Feb 2021–May 2022 | Led clinical-stage cell therapies operations |
| Revolution Medicines, Inc. (Nasdaq: RVMD) | Director, Program Biology | Dec 2014–Jul 2017 | Oncology program biology leadership |
| Aurora Medical, Inc. (private) | Founder & CEO | Sep 2012–Sep 2014 | Molecular diagnostics venture creation |
| bluebird bio, Inc. (Nasdaq: BLUE) | Associate Director, Program Management | 2010–2012 | Project management for gene therapy programs |
| Third Rock Ventures | Associate (earlier career) | — | Played leading role in investment in bluebird bio; ideation of Blueprint Medicines |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Cargo Therapeutics, Inc. (Nasdaq: CRGX) | Director | Current | Public company board service |
| Graphite Bio, Inc. (merged with LENZ Therapeutics, Inc. (Nasdaq: LENZ)) | Director | Jun 2020–Mar 2024 | Prior public board service |
| Various privately held biotech companies | Director | Various | Multiple private boards |
| Samsara BioCapital | Principal | Apr 2021–present | Affiliation with >5% holder of SEPN |
Board Governance
- Class I director; standing for re-election at the June 17, 2025 annual meeting; director since 2021 .
- Committees: Audit Committee member (Audit Chair: Shalini Sharp) ; Chair, Nominating & Corporate Governance Committee (members: Bassan (chair), Bernard Coulie, Alan Ezekowitz) .
- Independence: Board determined all members except CEO Jeffrey Finer and Alan Ezekowitz are independent under Nasdaq and SEC rules; independence determinations explicitly considered associations with >5% holders .
- Attendance: Full board met 17 times in FY2024; each incumbent director attended or participated in ≥75% of aggregate board and committee meetings for which they served .
- Governance structure and oversight: Separate Chair and CEO roles; committees operate under SEC/Nasdaq-compliant charters; nominating committee currently includes one non-independent member under permitted phase-in exemption with majority independent and full independence required within one year of listing .
Fixed Compensation
| Item | Amount | Period/Terms | Notes |
|---|---|---|---|
| Fees earned (cash) | $10,625 | FY2024 | Actual cash paid for director service |
| Board annual cash retainer (policy) | $40,000 | Effective upon IPO | Non-employee director compensation policy |
| Non-executive Chair additional retainer (policy) | $30,000 | Effective upon IPO | Applies to Chair, not Bassan |
| Audit Committee member retainer (policy) | $7,500 | Effective upon IPO | Non-chair member |
| Audit Committee chair retainer (policy) | $15,000 | Effective upon IPO | Not applicable to Bassan |
| Compensation Committee member/chair (policy) | $6,000 / $12,000 | Effective upon IPO | Not applicable to Bassan |
| Nominating & Corporate Governance member/chair (policy) | $5,000 / $10,000 | Effective upon IPO | Bassan is committee chair |
Performance Compensation
| Grant | Date | Shares (Options) | Exercise Price | Vesting/Performance | Fair Value | Expiration |
|---|---|---|---|---|---|---|
| Director Options (pre-IPO) | Sep 2024 (vesting commencement at IPO effective date) | 13,356 | $6.81 | Pre-IPO grant required satisfaction of service and performance condition tied to IPO or sale; after IPO, 1/16 vest quarterly; full acceleration upon sale event | $114,995 (grant date fair value) | 9/22/2034 (plan terms per cohort) |
| Annual Director Grant (Form 4) | Jun 17, 2025 | 16,623 | $10.24 | Vests in full at earlier of Jun 17, 2026 or next annual stockholder meeting; continued service required | — | 06/16/2035 |
Performance metrics: Pre-IPO director grants included a performance-based condition linked to consummation of the IPO or a sale event; subsequent vesting is time-based and accelerates on sale per plan .
Other Directorships & Interlocks
| Entity | Relationship | Overlap/Ownership |
|---|---|---|
| Samsara BioCapital | Bassan is Principal | Samsara beneficially owns 2,768,520 SEPN shares (6.2%); implies investor-affiliated director status |
| RA Capital | No direct role; peer director (Jake Simson) is Partner | RA Capital beneficially owns 15.7% via funds; separate investor influence on board |
| Third Rock Ventures | No direct role; peers (Tong/Ezekowitz) affiliated | Third Rock beneficially owns 23.4%; service agreement with TRV provided interim CMO services (Ezekowitz) |
Expertise & Qualifications
- Life sciences domain depth (program biology, oncology, gene therapy) and venture capital experience; board service across public and private biotech companies .
- Academic credentials in molecular/developmental biology; operator experience in founding and scaling biotech ventures .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Abraham Bassan | 1,669 | <1% | Shares issuable upon exercise of options exercisable within 60 days of April 21, 2025 |
| Options held (as of Dec 31, 2024) | 13,356 | — | Director options granted in Sep 2024; vesting as described above |
- Pledging/hedging: Company insider trading policy highlights risks of margin/pledging and expressly prohibits short sales, derivative transactions, and any hedging transactions in company securities by directors, officers, employees and certain consultants .
- Ownership guidelines: No director stock ownership guidelines disclosed in the proxy; equity compensation is used to align interests .
Insider Trades
| Date | Type | Security | Quantity | Price | Vesting/Notes |
|---|---|---|---|---|---|
| Jun 17, 2025 | Grant (Form 4) | Stock Options | 16,623 | $10.24 | Vests fully at earlier of Jun 17, 2026 or next annual meeting; expires Jun 16, 2035 |
Governance Assessment
- Independence and committee leadership: Bassan is independent and chairs the nominating & corporate governance committee—positive for board refreshment and oversight of governance standards .
- Committee composition caveat: Nominating committee includes one non-independent member (Ezekowitz) under allowed phase-in; majority is independent and full compliance required within one year—monitor for completion of phase-in to maintain governance quality .
- Audit oversight: As audit committee member, Bassan participates in oversight of external audit, financial reporting, internal controls, and related-party transaction reviews—supports investor confidence .
- Attendance: Meets or exceeds the ≥75% participation threshold; full board met 17 times—indicative of active board engagement .
- Ownership alignment: Beneficial ownership is de minimis (<1%) with director equity grants providing alignment; company prohibits hedging/derivatives—alignment via options but low outright share ownership may be viewed as modest skin-in-the-game .
- Investor affiliations: Principal at Samsara, a >5% holder of SEPN, indicating potential perceived conflicts; board explicitly considered such affiliations in independence determinations; related-party transactions policy assigns audit committee primary review—mitigates, but monitor voting dynamics and transaction reviews .
- Director compensation structure: Cash retainers modest; equity grants (initial and annual) with service-based vesting and acceleration on sale events align incentives but acceleration features can raise pay-risk alignment questions in change-of-control scenarios—consistent with disclosed policy .
Red Flags to monitor
- Investor-affiliated director status (Samsara) amidst material shareholder ownership could raise conflict-of-interest concerns in financing or strategic transactions; rely on audit committee RPT policy and board independence affirmations .
- Temporary presence of non-independent member on nominating committee under phase-in exemption—ensure transition to full independence within required timeframe .
Positives
- Governance leadership (committee chair) and audit committee role; robust meeting cadence and participation; prohibitions on hedging enhance alignment .
Notes and Sources
- Proxy statement (DEF 14A) published April 29, 2025 provides director biography, committee assignments, independence, attendance, compensation policy, director compensation, equity grants, principal stockholders, and related-party policies .
- Form 4 (June 20, 2025) detailing annual director option grant on June 17, 2025: 16,623 options at $10.24, vesting at earlier of one year or next annual meeting, expiring 2035-06-16 .