Ilan Levin
About Ilan Levin
Independent director of Silexion Therapeutics Corp (SLXN). Age 59; appointed to the Silexion board in 2024 and continues to serve following the August 15, 2024 business combination with Moringa Acquisition Corp . Previously co‑founder, Chairman and CEO of Moringa; earlier held senior roles at Objet/Stratasys (Board/Executive Committee member 2000–2018; CEO 2016–2018) and CEO of CellGuide (2004–2009). Education: LL.B., Tel Aviv University; B.A.Sc. Industrial Engineering, University of Toronto .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Moringa Acquisition Corp | Co‑founder, Chairman & CEO | Not disclosed | Led SPAC that combined with Silexion on Aug 15, 2024 . |
| Objet/Stratasys (Nasdaq: SSYS) | Board & Executive Committee; President, Vice Chairman; CEO (2016–2018) | 2000–2018 | Senior leadership at 3D printing leader; extensive public company experience . |
| CellGuide | Chief Executive Officer | 2004–2009 | Ran software-based GPS developer . |
| Various Israel tech companies | Director/Advisor | Since 1997 | Broad governance experience in Israel tech ecosystem . |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Vision Sigma (TASE: VISN; IT) | Chairman | Current | Israel-based real estate & investment company . |
Board Governance
- Committee assignments: Member, Corporate Governance & Nominating Committee .
- Committee chairs: Not listed as chair of any committee (Audit: Abramov chair; Compensation: Alon chair) .
- Independence: Board determined Levin meets Nasdaq “independent director” definition .
- Attendance: In 2024 (post‑Closing), Board held 7 meetings; no director attended fewer than 75% of Board/committee meetings on which they served .
- Years of service on SLXN board: Since 2024 .
- Lead Independent Director, executive sessions: Not disclosed .
Fixed Compensation (Director)
| Year | Cash Retainer | Committee/Chair Fees | Consulting Fees | Notes |
|---|---|---|---|---|
| 2024 | $0 | $0 | $45,000 | Consulting at $10,000/month for 4.5 months post‑Closing under the Business Combination Agreement; paid to Levin (not a director cash fee) . |
| 2024 Director Cash Policy | “We did not pay any cash fees to [non‑employee] directors” | — | — | Company states no director cash fees; equity granted instead . |
Performance Compensation (Director)
- Annual equity to non‑employee directors at Closing: Company states it granted 22,070 RSUs (post 1‑for‑9 split) to each non‑employee director for board service; all fully vested at Closing (Aug 15, 2024) .
- No performance‑metric (PSU/TSR/EBITDA) structures disclosed for directors; no director bonus metrics disclosed .
Other Directorships & Interlocks
| Company | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Vision Sigma (TASE: VISN) | Public (Israel) | Chairman | No disclosed commercial ties to SLXN . |
| Moringa Sponsor, LP / Greenstar, L.P. (PIPE investor) | Private partnerships | Levin is sole director and sole equity owner of the Israeli company that is the sole GP of both entities | These entities hold/held SLXN securities and a convertible sponsor note; related‑party exposure (details below) . |
Expertise & Qualifications
- Capital markets and SPAC execution; board/CEO experience at Stratasys (global 3D printing leader) .
- Legal and industrial engineering training (LL.B., B.A.Sc.) .
- Service on corporate governance & nominating committee at SLXN .
Equity Ownership
| As-of Date | Beneficial Ownership (Shares) | % Outstanding | Composition/Notes |
|---|---|---|---|
| May 30, 2025 (pre 1‑for‑15 split) | 229,624 | 2.6% | Beneficial owner as disclosed in 2025 AGM proxy; percentage based on 8,692,392 shares outstanding . |
| July 15, 2025 (post 1‑for‑15 split) | 15,309 | 2.6% | Comprised of: 9,906 “Sponsor Investment Shares,” 2,614 converted private shares, 1,307 underlying warrants (exercisable 30 days post‑Closing), and 1,482 PIPE shares held by Greenstar, L.P.; Levin controls the GP of both Moringa Sponsor, LP and Greenstar, L.P. . |
Additional alignment details:
- Options held by Levin as director: None disclosed; warrant position of 1,307 underlying shares via Sponsor .
- Pledging/hedging: Not disclosed.
- Ownership guidelines/compliance: Not disclosed.
Related-Party Exposure & Conflicts
- Sponsor control and shareholding: Levin controls the GP of Moringa Sponsor, LP and Greenstar, L.P., which beneficially hold SLXN equity and warrants; Levin disclaims beneficial ownership beyond pecuniary interest but exercises sole voting/investment control via the GP .
- Convertible sponsor promissory note: At Closing, SLXN issued an amended & restated sponsor note for $3.433 million to Moringa’s sponsor (controlled via Levin’s GP). Convertible into SLXN shares, including at future financing prices (up to 30% of shares sold in such financing) or at VWAP after 24 months; matures Feb 15, 2027 .
- Registration rights/lock‑up: Sponsor, PIPE investor and others have demand/shelf/piggyback rights under the A&R Registration Rights and Lock‑Up Agreement effective at Closing .
- Related‑party policy: Company had not yet adopted a formal related‑party transactions policy as of the 2025 AGM proxy; Audit Committee charter assigns it responsibility to review/approve related‑party transactions; code of conduct requires conflict avoidance .
- Consulting fees: $45,000 paid to Levin in 2024 under Business Combination Agreement for post‑Closing consulting work .
RED FLAGS
- Significant related-party nexus between Levin‑controlled sponsor entities and SLXN (equity holdings, registration rights, and a large convertible note with flexible conversion mechanics) which could influence financing terms and dilution outcomes .
- No formal related‑party policy in place as of the 2025 AGM proxy (mitigated in part by Audit Committee review mandate) .
Director Compensation (Comparative context)
| Director | 2024 Stock Awards ($) | 2024 Cash Fees ($) | 2024 Consulting Fees ($) | Notes |
|---|---|---|---|---|
| Ilan Levin | — | $0 | $45,000 | Consulting post‑Closing; company also states 22,070 RSUs were granted to each non‑employee director and fully vested at Closing . |
| Dror Abramov | $313,800 | — | — | Example of non‑employee director equity award valuation . |
| Avner Lushi | $313,800 | — | — | Example . |
| Shlomo Noy | $313,800 | — | — | Example . |
Note: The proxy states that all non‑employee directors received 22,070 RSUs (fully vested at Closing), yet the table shows no stock award value for Levin and instead shows a $45,000 consulting fee; this suggests Levin’s compensation in 2024 was structured differently (consulting vs director grant) or reported through affiliated entities .
Independence, Attendance & Engagement
- Independence: Board determined Levin is independent under Nasdaq rules; also serves on the corporate governance & nominating committee .
- Attendance: No director fell below 75% of Board/committee meetings during 2024; Board met 7 times (plus 3 written consents) .
Compensation Structure Analysis (Signals)
- Directors generally compensated in equity (RSUs) rather than cash fees; aligns with shareholder value creation, though 2024 director equity grants were fully vested immediately at Closing, reducing longer‑term holding incentives .
- Levin’s $45,000 consulting fee (transaction‑related) is atypical vs peers on the same board who received equity awards; raises questions on mix and alignment specific to Levin for 2024 .
Equity Ownership & Alignment (Signals)
- Meaningful stake controlled via sponsor/PIPE entities (2.6% pre and post reverse‑split snapshots), including warrants; creates skin‑in‑the‑game but also concentrates influence via sponsor relationships .
Governance Assessment
-
Positives:
- Independent classification; committee service on governance & nominating .
- Adequate attendance in 2024 .
- Deep public company leadership and capital markets expertise (Stratasys CEO; SPAC sponsor) .
-
Concerns and monitoring points:
- Related‑party concentration: Levin’s control of the sponsor GP and the sponsor’s $3.433M convertible note with flexible conversion terms pose dilution and conflict‑of‑interest risks; registration rights further facilitate liquidity for affiliated holders .
- Lack of a formal related‑party transactions policy (at time of proxy), despite Audit Committee review mandate .
- Director equity awards fully vesting at Closing reduced long‑term alignment; Levin’s 2024 package emphasized consulting fees over director equity, creating an atypical pay mix vs peers .
Overall implication for investors: Levin brings high‐value capital markets and operating experience that can benefit a capital‑dependent biotech; however, the sponsor‑linked financing structures and the absence (as of the proxy) of a formal related‑party policy warrant scrutiny of future equity financings, conversion events, and board oversight of conflicts to maintain investor confidence and protect minority shareholders .